Section 8 Or TRA – Which Is Better?
Q: Which rental assistance program is better for landlords, Section 8 or TRA? Lydia, Elizabeth, NJ
A: There are rental assistance programs at the municipal, state and federal level that can help needy tenants pay rent. Whether you are a landlord or a tenant considering one of these programs you should familiarize yourself with them before you sign up—find out what the requirements are, what percentage of rent is paid and for what period of time. Based on my experience as a landlord, I prefer the section 8 program to TRA because TRA provides only temporary rental assistance whereas Section 8 typically provides assistance for the life of the tenancy so the risk to the landlord is lower. Thanks for your question, Lydia.
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