Work trade for rent - Pros and Cons

[Matt Gilroy]

Hello BP!

I have a SFH with a tenant moving out the end of this month. I have been getting bids to do a pretty good overhaul and remodel of the house in order to increase rents. One of the contractors I had give me a bid is an old high school friend. He suggested a potential trade for repairs for rent.

What are your thoughts on looking into this? What should I look out for? What should I include in a lease to ensure the work would be done timely and that when the work is done what the new rent is.

I’d love your thoughts and prior experience with anything like this.

Thanks in advance!

Matt