Landlord of Voucher-Holders: Would you rent to this applicant?

[Nina Diehl]

I am currently in the process of screening tenants for my first investment property.  We've spent about $40,000 updating this house with HVAC, electrical, bathroom, kitchen with the plan of renting to a housing voucher tenant.

The home is in a working class area on a quiet block in a quiet neighborhood with many homeowners where modest homes are kept looking nice.

There is a potential tenant I am considering, but I am on the fence over whether to accept or not.

Positives:

-applicant communicates well regarding application process, is open about current living situation

-applicant is punctual for all meetings/viewing of house, etc

-applicant just received a housing voucher that will cover $1328 per month

-applicant home is clean and well-kept (I stopped by to check)

-non-smoker

-clean background check

-applicant has a job with a regular pay check.  1/3 of income covers applicant's portion of the rent

Negative:

-Over the last year, the applicant has had 5 late payments for which she received eviction notices.  This all occurred prior to receiving the voucher.  The applicant has NOT been evicted and appears to be working to make up for the missed payments according to bank statements.  The rent at applicant's current residence would account for 47% of her post-tax income.  

I'm leaning towards accepting the applicant, but I'm worried about the late payments.  However, I can see that there will be a change in finances with the housing voucher that would apply to my unit.

Would you accept this applicant?