Updated about 11 years ago on . Most recent reply
Renting to Family and Friends
Who rents to family and friends?
How has that worked out for you?
Personally, I won't do it. I know my family and they can be a pain in the ***.
My first Contract for Deed has just started with my Best Friends younger brother. Who I do trust.
Another example, I know a man who owns a 6 unit in Chicago and 4 of the units he has rented to family. They basically have all lived there for 20 years and it has not been a problem.
I would like to hear people's experiences.
Mainly the good. I know it is easy to hear about the bad, and how this cousin ruined my apartment.
Most Popular Reply
@John Van Uytven I did it once as an act of mercy. The relative was living with my dear grandmother and I had a vacancy. It went about as bad as I expected and I non-renewed at the end of a year. I NEVER would have done it other than in those circumstances. That was me "taking one for grandmaw."
The good part of that story was that is was a huge relief to my grandmother!