House Hack Question Tenant Wants Son to Move In

[Everett Morris]

I am currently house hacking my property to live for cheap. I have a tenant that pays well and hasn't given me any real problems. I came home one night this week, and she told me her son inherited a house from her ex-husbands mother. He is currently a college student, but I was told that he was taking the semester off. His uncle decided to sell his house to move into the inherited property. My tenant asked if her son could stay in the spare room she rents for storage for a couple of months until the uncle finds a house. After giving it some thought, I decided to possibly let that happen.

I came up with letting the son, who is over 21, stay in the spare room for 300 per month instead of 40 per month (the rent for storage) for 3 months. If the son has not moved out by then, I want to raise the rent to the full price of the room at 500 per month. Do you think that is a good strategy to go through with? I was reading the leasing agreement, and is say the amount for 40 per month for the spare room. It did not specify storage but that was what the used of the room was agreed upon when signing. Thank you in advance for your time. 

[Danielle Jackson]

That seems like a win/win if you are comfortable with the relationship. Having a mother/son live with you can create its own set of issues, but if you are confident it won't be long-term, then it could work. 

I would ensure that whatever you agree to for the son, is in writing, and I suggest including the ramp up if he stays longer than 3 months.