NJ Section 8 approval process

[Megan Brooks]

Hi fellow NJ landlords,

I received a rental application for a tenant and they are section 8. I don't have experience renting to section 8, I have read about the pros and cons on the various bigger pockets articles and forums. My question is, is it easy and fast to become an approved apartment through section 8? I'm still taking other applications but would like to know the process on this in case we decide to go with that tenant. Any other words of wisdom regarding section 8?

Thanks!

Megan

[Robert Webb]

Hello Megan,

I accepted a section 8 tenant for my condo a little over a year ago. I had no problems with the approval process. The tenant has to do most of the work. I had to provide comps to support my rental price to make sure its a fair market (pretty loose term in my opinion) and then they had to schedule a walk through and check out the unit. 

I had just rehabbed this home, so I had no issues, but from talking with the guy, its to make sure the unit is livable and not slummy. He also said the in home visit is to protect you as well, the landlord, that way is something breaks, it was documented before the tenant moved in.

My advise when it comes to section 8 - I wouldn't shy away just bc its section 8, but still keep your requirements as a landlord. My tenant had a steady job for years and decent credit (around 675) she just didn't make a ton of money. But she has been a great tenant. But still make sure they are good tenant just in a tough situation and I would say you should be fine. I would still steer clear of the 550 credit score applications with a poor rental history.

Hope this helps!

Robert Webb