Renting to Someone Within Same Company

[David Li]

Hello, 

We recently listed a home for rent and received multiple applicants within the first 2 days. One of these applicants actually works in the same company (but different campus in the same city) as I do. Is there any downside to renting to people like this? 

Thanks in advance!

[Jim K.]

@David Li

Yes. If your tenant works at the same place you or your spouse does, the whole place is going to learn about what you do on the side and how you do it. Probably doesn't seem to be important now, but how many rentals do you have? As you start to climb up the ladder, and the same people know your business at 16 doors as knew it at 4 doors, you get talked about more and more. Did you do something good for your tenant? You're a big softy. Did something not-so-nice out of necessity? It'll be spread around seven times as much as you'll be the nasty guy who's getting too big for his britches. Used the rent money to go on a nice vacation? Well, you told your tenant and you told her where you were going, so everyone wants pics and the next time your tenant pays rent she refers to it as "toppin' off yer wad."

Nobody at my job knows I own rental properties. I actively discourage this by pretending to be a barely functional alcoholic. My standard answer to what I'm doing on the weekend is that I'll be in my recliner, alone, watching whatever's on and putting away a fifth of Cutty. Nobody asks any more questions about my goddamned weekends after I bring up the Cutty.