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 4 years ago on . Most recent reply

User Stats

1,888
Posts
1,045
Votes
Jack B.
  • Rental Property Investor
  • Seattle, WA
1,045
Votes |
1,888
Posts

To rent out the MIL apartment at my lake house or not

Jack B.
  • Rental Property Investor
  • Seattle, WA
Posted

At a previous house I had a MIL apartment that I rented out. It had it's own everything, including parking and entrance, kitchen, breaker, you name it.

Now I have a house on a lake with a completely separate MIL apartment down stairs. The rent from this MIL would pay my mortgage. The down side is that BECAUSE it's a lake house, the tenant will be more "visible" in that they will be out at the dock/boat house/lake from time to time, possibly when I want to be out there alone. Then again, I don't go out there that often, mostly when my gf comes which is once a month.

Is it worth the free living to share the lake house with a tenant in their own basement unit? Ultimately I could try it out and send them on their way if I don't like it. With the right tenant I had no issues at my previous house. With the wrong tenant it was hell....Of course at that house there was no yard so they stayed in their unit....

Loading replies...