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Tarheel

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19 minutes ago, USNRET said:

Good thing is that you are close by. I will never be in a long distance relationship again. Depends on how much the positive cash flow is.

Yep, have to agree with Mike.  Did the remote landlord thing for 5 years and 2000 miles away.  Not good.  But your situation sounds pretty good, I'd do it.

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If you trust her it's probably worth it. I would definitely have her sign an agreement. And DO NOT let her put any kind of utility in her name. I've heard some horror stories lately about the hassles of trying to evict someone. It can take up to a year to legally evict someone, local laws are different I'm sure.

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As a trustee of a family trust that bought a duplex as rental property with our two sons as tenants, I’m a residential landlord.  Whether such a plan is genius or madness remains to be seen.  So far, so good.  The duplex is 20 minutes from my house.  I wouldn’t want a long distance “absentee” landlord situation.

 

Chuck, as long as she doesn’t show up with an empty box truck to “. . . sit in the house . . .” it sounds like a good plan.

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34 minutes ago, DizRotus said:

As a trustee of a family trust that bought a duplex as rental property with our two sons as tenants.  Whether such a plan is genius or madness remains to be seen.  So far, so good.  The duplex is 20 minutes from my house.  I wouldn’t want a long distance “absentee” landlord situation.

 

Chuck, as long as she doesn’t show up with an empty box truck to “. . . sit in the house . . .” it sounds like a good plan.

My son was my tenant for about 5 years.  He could have stayed there forever as far I was concerned.  When he moved out I put the house on the market.

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Well if nothing else I am uncluttering a bit.  Books in the attic for 30 years with bug droppings, tupperware, misc piece of hardware.....all going.   Also fixed a rocker on the front porch (L bracket for arm), and filled up Damp Rid containers.  Never use the front door for entrance and have lost the key.  May change front and back locks and key the same.

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This a big change for you Tarheel, both renting and moving in with the LF, good for both of you and I hope it all works out fine. 

 

It's hard to not be sympathetic to who you rent to when things come up as we found out. If they are good people you want to help as much as you can but it seems, in the end, they turn around and look out for only themselves as should be expected. We just went through this but after a few days have someone new renting who appear to be fine, just remember to be fair but firm, you will be the only one to deal with problems when they are long gone.  

 We were lucky, no damage was done and it was left mostly clean, but they left a couple of months before we found out after letting them slide on rent for 3 months as the young husband lost his job with a young kid and wife at the end of the year. It was not the rent that was the problem but with no one there this left the chance for pipes to freeze, we were just lucky we never had a hard freeze yet, it was the only reason I didn't have pipes to repair. 

 

Good luck and just stay on top of it.

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House sitting is a little different from tenant.  You should set up the terms and boundaries how you see fit.  We used to house sit some awesome places on Oahu back in the early to mid 90's.  The mindset of the sitters is what is important.  A renter (tenant) traditionally feels a right to use and some to abuse.  A sitter should feel an obligation to be a caretaker and preservationist.  How you approach the concept with this person sets the tone.

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8 hours ago, Tarheel said:

Happy birthday WillyBob!  Buy yourself a nice bottle of single malt and send Carl the bill.

 

Considering a house share situation at my place since I am rarely there.  I have spent two nights there in the last six months since LF and I rescued the Jakester.  Rent would off set taxes, insurance, utilities that I now pay.

 

The female tenant is pretty much the polar opposite of me.  She is a night owl.....I'm a morning person.  She watches CNN....I don't.

What we have in common is liking dogs and both are neat as far as the house goes.  She would have access to everything but my suite and the music room. 

 

I built the house thirty years ago and have maintained it in great condition.  No children....no smoking....no roller skating inside.  I think she would take care of things and may even be OCD about order.

 

Thoughts?

Jake's training video

 

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