Would Appreciate Some Advice

[Wade Garrett]

I just purchased my first fourplex and have a tenant who I foresee being an issue. 

She is currently on a month to month, as her previous lease with the old owner expired. The old lease says the rent was $900. Her security deposit is $900. There are payment receipts of $900. The tenant claims she is and has been paying $800. Market rent is $1,000. 

It sounds cut and dry when posted like that. But she also maintains the property in exchange for discounted rent. So I don't technically have to do much on a day-to-day basis. 

I am a little apprehensive about calling her bluff and calling her a liar right off the bat. Also, her residence in the place is fairly crucial to the investment. 

How do you recommend I handle her?

Thanks. 

[Christian Harris]

Hi Wade,

I apologize in advance since I have never been a landlord and cannot speak from experience. However, my two cents would be to ask the previous owner what their experiences with this individual were like. If that somehow isn't an option, I would weight out the pros and cons on a sheet of paper before deciding which approach to take. Consider the value she provides and if that is easily replicable with a different tenant. Another thought to consider is if she is straight face lying to you about the rent she pays then she may do the same when telling you about all the things she "manages" around your property.

Hope this helps somehow!