Renting to my contractor?

[Joshua Feit]

Hello BP! Josh here, a buy/hold investor from Atlanta.

I have a young contractor who works with me on my properties' repairs and updates. He is reliable and does good work. I have just acquired a single-family home, and I had him tour the house with me to provide a quote on the deferred maintenance and repairs.

The next day (yesterday), he reached out to me to inquire about the rent. When I asked why, he said he was interested in living in the house.

We would not be bartering services. I would pay him market rates for his work (on this property and elsewhere), and he would pay market rent for the property.

Aside from thorough screening (a la the BP Ultimate Guide to Tenant Screening), are there other considerations I need to be aware of?

Thanks for helping me sort this through!