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I am interested in swapping my house for an apartment.  I found someone who has an apartment I like with a lease.  They will continue to pay their rent.  I will stay in their apartment; they will stay in my house.  My house has no monthly note.

In addition to a contract what can I do to help protect myself if they decide to stop paying on their lease?

I was thinking about having them advance pay at least one month ahead on their lease.  If they failed to keep their lease one month ahead at all times then I would start an eviction to remove them from my house.  I would put all of this in the contract.

Any other thoughts?


@Tyler Durden several questions come to mind:

I'm trying to get my head around "why?"

If you want to be sure you're covered, whay not have the lease on your house so that they pay you, and you handle the apartment payment.

lastly, is that really your name, or are you pulling Jack's leg?


The main reason is tax.  If I do it this way there is no income on my part to report.

If i collect rent then pay their lease I have income to report.

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