Need advice!

[dakcp2001]

We are moving out of state, and our home is up for sale. Suddenly friends and family are interested in renting my home. One friend in particular, a former coworker whom I love dearly is interested in having her daughter rent my home. I dont know her daughter at all. I hate to judge, but I know she has had some behavior issues back when I used to work with my friend.

I have never been a landlord, and I will be out of state. How will I handle if someone doesnt pay or if something breaks? How do you evict a friends daughter?

I just feel like this could be a very bad idea, renting to a friends family member. My neighbor also has a friend that is interested in renting. I dont know how to go about this, and I am terrified that my home will be ruined or that i wont get paid the rent.

 

[golfgal]

Don't rent to friends or family, ever.

 

[Mommee]

Everything in me screams "don't do it!!"



First you need to decide if you wanted to be a landlord to anyone. Then factor in the stickiness of the knowing that person or someone they know.

 

[Handbag Lady]

If you decide to do it, hire a management company since you won't be there to collect the rent (and to make sure it gets paid!) as well as to handle late-night emergencies. They will also handle the eviction if needed.

I would be cautious, but it might make financial sense to rent it out rather than sell at this time.

 

[Mermaid02]

We are moving out of state, and our home is up for sale. Suddenly friends and family are interested in renting my home. One friend in particular, a former coworker whom I love dearly is interested in having her daughter rent my home. I dont know her daughter at all. I hate to judge, but I know she has had some behavior issues back when I used to work with my friend.

I have never been a landlord, and I will be out of state. How will I handle if someone doesnt pay or if something breaks? How do you evict a friends daughter?

I just feel like this could be a very bad idea, renting to a friends family member. My neighbor also has a friend that is interested in renting. I dont know how to go about this, and I am terrified that my home will be ruined or that i wont get paid the rent.

I'd just sell it. You won't be around to make sure things are as they should be and renters will take advantage of that. Sell it.

 

[mickeysgal]

You're moving out of state. Do you really want the headache of another piece of property that's out of reach for you? Do you want the headache of wondering what is happening to it, whether it's being maintained, whether the rent and utilities will be paid? Cardinal Rule #1 - do not do business with family and friends. It tears families apart and destroys friendships. I'm sure there are expections to this rule of course. It's already not sitting right with you. Listen to your instincts.

 

[dakcp2001]

I'd just sell it. You won't be around to make sure things are as they should be and renters will take advantage of that. Sell it.

We want to sell it, but it isn't moving and appears as though it isnt going to sell anytime soon. So it will be unoccupied (other than my dad staying over once a month for work)

My gut instinct is just telling me that carrying it & knowing it isnt being damaged is better than possibly making some money toward the rent. I live in a state where it is nearly impossible to evict someone if they dont pay or cause damage. (Massachusetts)

Anyone a landlord in Mass?

 

[DawnM]

I would NOT rent to anyone who sent red flags my way. This sounds like a huge problem just waiting to happen.

Dawn

 

[dakcp2001]

You're moving out of state. Do you really want the headache of another piece of property that's out of reach for you? Do you want the headache of wondering what is happening to it, whether it's being maintained, whether the rent and utilities will be paid? Cardinal Rule #1 - do not do business with family and friends. It tears families apart and destroys friendships. I'm sure there are expections to this rule of course. It's already not sitting right with you. Listen to your instincts.

Nope, dont want to deal with it! And the bad feeling about this friend's child is making me even more apprehensive. The only thing tempting me is rent would help toward the mortgage, but not if we have to pay to fix everything if it gets damaged. I would feel much better evicting a stranger, lol.

But thank you, you said exactly what I feel and needed to hear.

 

[Barbossa]

Don't rent to friends or family, ever.

Corollary: Don't do business with friends or family. Ever.

 

[The Mystery Machine]

No way in heck am I renting to someone's coworker kid. That just screams pure hell in a basket to me.

As far as family, they will take advantage of you. They will late with the rent and expect more from you because you are family.

 

[C.Ann]

Don't rent to friends or family, ever.

Agreed.. I would go with a real estate management firm.. Let them handle any hassles.. It may cost you a bit, but it will be worth every dime you pay them..

Good luck!