Would you live in one of your rentals?

[Chris Svendsen]

Ok, just a off topic question but who would live in any of their rentals as it sits right now if needed too without a choice of which one it is?  Why or why not?

Reason I ask is curiousity and also my situation.  When wife and I began this venture we went into it with two goals.  First is obviously to make money from this.  Second is to provide a decent place for others to live and raise a family.  All to oftern I kept hearing from others its fine, its just a rental.  Well, if fine, would you live in it?  If not why do you expect others too.  

Recently we had a major career changes and relocation.  We are now forced to live in one of our former rentals as house market sucked when trying to buy, limited inventory and prices stupid high so we moved renters out and we moved in.  Had zero reservations on doing this as was a nice place to live.  Ideal for us, no, but none the less a good home.  

If you answer with no way, I urge you to think about that statement.  Why is it okay for others to live there but not for you and your family?  While I do not make 100k a month on rents, we building a nice little nest egg all the while also provide a good home for others.  If you are not, what is your reasoning?  Is it a strictly profits holding you back from fixing up homes?

 We just like helping others where we can.  It may cost me some money in long run but we can sleep soundly knowing we will gladly move into any of our properties tomorrow if needed.

[Jeremy H.]

To answer your question: Some of them I would live in, others I would not (due to varying factors, location, neighbors, condition, my stage in life)

It also sounds like you are wrestling with a morality thing - no problem with that, but this is a business to me personally. I keep my buildings in good shape and the units in good shape - my job is to provide a decent place for someone to live - not to "help" them. 

My tenants have different wants/needs from me - some want an affordable place, some want to live near the college, some downtown - I on the other hand want a yard for my family/pets, want a bigger area for my shop & home office.

Additionally it doesn't make business sense for me to strive for perfection in my rentals because tenants will invariably mess something up - they don't care about your house like you do, so they won't treat it as you would (this is a case by case, but generally speaking this is what I have found, I do have some that do awesome - fix small things, mulch the flowerbeds etc). I like my house nearly perfect (this is just personal preference). I think you underestimate some tenants living/life choices in lower income areas as well. 

The question: Why is it okay for others to live there but not for you and your family? - This is a borderline entitled socialist question - I'm not even going to start going down that rabbit hole this morning. I don't like "slum" houses anymore than the next guy - but if you are following the law/codes then that is fine and that is what you're required to do.