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Updated over 8 years ago on . Most recent reply

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Joel Harris
  • Austin, TX
0
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10
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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!

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

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

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