Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

10
Posts
0
Votes
Joel Harris
  • Austin, TX
0
Votes |
10
Posts

Existing Tenant receives $200/month discount to "resident manage"

Joel Harris
  • Austin, TX
Posted

I am purchasing a 4 plex with one of the tenants receiving a $200 discount on monthly rent in order to be a resident manager. I'm not sure what this includes, but I would be much more comfortable with a professional management company handling issues. 

Does anyone have experience divesting a tenant of "manager" powers? Are there any safe ways to go about it? Should I just be forthright and tell the renter that I will have a management company take care of the situation, and let him know to expect his next contract to be $200 higher?

Thanks!

Most Popular Reply

User Stats

5,544
Posts
2,364
Votes
Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
2,364
Votes |
5,544
Posts
Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
Replied

Serious labor law issues here.  Review State regulations on Resident Managers for details.

Loading replies...