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Updated over 8 years ago,
Fourplex Tenant Management Advice
I just closed on a fourplex, and I am working out the kinks with tenants, leases, and parking.
The fourplex is one 3 BR and three 1 BR's.
For parking, I have a two car garage, two open spots, and a driveway. Enough for everyone.
Currently, the largest 1BR pays $900 (market rent $1,100) and has half of the garage. She is on a month-to-month.
The 3BR was promised half of the garage by previous owner, but never in writing, and the woman in the 1BR is difficult to share with.
If I had it my way, the 3BR would have the whole garage (for higher rent). The 1BR woman is a pain in the ***, and I want her rent up, and her out of the garage. But I also don't want to ram up her rent and take away storage at first chance. I have a problem with it from a principles perspective.
I am thinking giving her two choices: $900 rent, move out of the garage, or $1,025 to take the whole garage.
Your thoughts?