Renting to Family and Friends

[John Van Uytven]

Who rents to family and friends?

How has that worked out for you?

Personally, I won't do it.  I know my family and they can be a pain in the ***.

My first Contract for Deed has just started with my Best Friends younger brother.  Who I do trust.

Another example, I know a man who owns a 6 unit in Chicago and 4 of the units he has rented to family.  They basically have all lived there for 20 years and it has not been a problem.

I would like to hear people's experiences.

Mainly the good.  I know it is easy to hear about the bad, and how this cousin ruined my apartment.

[Robert Leonard]

@John Van Uytven   I did it once as an act of mercy.  The relative was living with my dear grandmother and I had a vacancy.  It went about as bad as I expected and I non-renewed at the end of a year.  I NEVER would have done it other than in those circumstances.  That was me "taking one for grandmaw." 

The good part of that story was that is was a huge relief to my grandmother!