Rent to my Contractor?

[Greg Shyne]

Disclaimer: I sincerely do not wish to offend anyone... however, I would like to very kindly request to only have individuals that have actually been in this situation to provide feedback. Although everyone's opinion is valuable, we often tend to quickly give an opinion on what we "would do" in a certain situations, when "real life" tends to unfold very differently... 

Hello Everyone! 

Okay, here's the situation... I'm currently the middle of a rehab on a flip property that I've been leaning towards holding as a rental, as it is always my preferred exit strategy. Today I received a call from a contractor I've worked with a few times and he asked if I'd be willing to rent the property to him once it's complete. The issue is, I do not really want to rent to this contractor... He has not been the most "reliable" as far as showing up on time, being prepared to complete jobs,  101 excuses, etc. He's a fairly young guy who is good at what he does, but just needs to learn how to run his business more professionally... With all the hassle I receive working with him as a contractor, I can only imagine the headache I'd receive with him as a tenant. However, I do not want to ruin the relationship by flat out telling him that I do not want to rent to him. 

I would really like to hear how others have handled this particular situation or similar situations. 

Thanks!!! 

[Kalimah Jenkins]

Greg Shyne It always amazes me how people are so afraid of simply telling the truth and would rather spend their time making up all sorts of stories. Sorry, I haven’t been in the exact same situation but I have been asked by a 30 year friend and just today, by my sister in law. Answer: In order to maintain relationships, we don’t rent to family or friends. Easy peasy.