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Rent Guarantee by the City
New York City Housing Authority (NYCHA), is the primary City agency that administers the “Section 8” rent subsidy program, named after Section 8 of the United States Housing Act of 1937.
Under this program, tenants typically pay a small portion of the total rent, while the majority comes as a direct deposit straight from NYCHA, on the first business day of every month, no matter what.
See a screenshot below of some bank activity. NYCHA pays each LLC the total it owes for all the apartments owned by that LLC.
Obviously, the government is a more reliable payer than ANY tenant

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