Updated over 4 years ago on . Most recent reply
Guaranteed rental income during economic uncertainty
Hey BP community!
I've come across so many landlords as of late who are in a tough spot due to NYC shutdowns, lockdowns, restrictions or whatever you want to call them. Tenants are out of work and eviction courts are halted for the time being. As rent is oftentimes their highest expense, many tenants are not paying all of their rent or any of it in some instances.
Landlords with vacant apartments are, rightfully so, extra cautious when looking to fill their empty apartments.
For some reason, NYC landlords don't seem to look at these programs any more favorably than they did a year ago and I'm curious to know if thats the general consensus around the country.
My question to the community is: does this current economic climate make Section 8 and other city/state/federal program recipients MORE attractive as prospective tenants?
Abel
- Abel Curiel
Most Popular Reply
It is a double-edged sword. It really comes down to what your outlook is for the Section 8 voucher programs. If some of these programs are losing funding or at risk of losing funding/donors, tenants could lose their vouchers and be unable to pay. Here in Massachusetts, you are not allowed to base your tenant decision on housing subsidies.