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Updated almost 3 years ago on . Most recent reply

User Stats

98
Posts
127
Votes
Michael H.
  • Investor
  • Kennesaw, GA
127
Votes |
98
Posts

Opportunity to have a non-profit rent one of my properties

Michael H.
  • Investor
  • Kennesaw, GA
Posted

I recently came across an opportunity to work with a local non-profit that is considering renting one or more of my properties. They help women get out of bad situations by providing housing, counseling (mental health and career), etc. The basics of the deal are as follows:

2 year lease in the non-profits name, not the tenant

they perform vetting of potential program attendees including criminal and credit checks

They furnish / partially furnish the apartment

The requirements for the women to remain in the program are pretty strict, must attend weekly counseling etc. 

What questions should I be asking of the non-profit? Anyone had similar experience? Good? Bad? Otherwise? 

Most Popular Reply

User Stats

62
Posts
59
Votes
Jennifer Jo McCallon
59
Votes |
62
Posts
Jennifer Jo McCallon
Replied

I did this recently and had a terrible experience. She destroyed the place in under a year. Rags in the toilet and garbage disposal. Stove front off its hinges. Broken everything, destroyed the floors. In the end, the non-profit paid for the damages, so it wasn't the worst, and at least the rent came regularly.  My suggestion: ask if they will cover damages caused by the tenant.

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