Q: Transitioning rental management from a hobby to a business

[Justin Wawrzyniak]

I am an investor in Indianapolis, who is about 8 months in on a house hack that has turned out fantastic. I purchased a SFR for $40k less than FMV and renovated the basement into a separate unit (essentially creating a duplex). The only problem....I approached the rental management like a hobby and not a business. I do all the repairs and maintenance when I can find time and I did not do a great job setting the boundaries with the current tenants. The silverlining is that I have amazing tenants. My question to the forum is this:

Q: Because I failed to set the tone of managing the property like a business (office hours, system for collecting rent, etc.) should I let the lease of the current tenants run out and get new ones in? That way I can start over fresh and set the tone early.

[Karen Margrave]

@Justin Wawrzyniak so because you're not happy with the way you structured your business you want to penalize your tenants and evict them?

I think it's a terrible idea. These are peoples lives, not a game that when you want to change the rules their lives get upended so that its easier for you.