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Updated almost 12 years ago,
update on using a contractor as a tenant to revitalize your properties
Hello it is me the newbie who is always looking for a way to get er done
using innovation and creativity.
a few months ago I posted that I took in two handymen/contractors as tenants
the houses still needed some work and i offered a reduction in rent in exchange for their attention to these matters
I want to update you on the experience.
in unit A the nicer of the two homes the contractor/tenant
did sand and stain the cabinets beautifully installed a chandelier and painted pretty much the whole house interior, no hitches or hiccups
in house B the tenant performed 1/3 of the work began working with my personal contractor made a few grand on a couple of jobs and ended up breaking the lease and sneaking out in the middle of the night so to speak.
lesson? both guys were married and both worked with my personal contractor after meeting him through me.
but one guy was not stable and he was the one who left
all in all I am not mad. ?I did get some work done and what is left for me to do
is minimal
In retrospect I think a handyman as a tenant is less troublesome
and because of their knowledge will not be crying over anything except something worth crying about.
I still think it is a viable strategy (using a contractor as a tenant to help do repairs in the house. but like all strategies there is a fair amount of risk and luck needed.
Thanks everyone who helped out on that thread.