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Updated about 3 years ago on . Most recent reply

User Stats

67
Posts
28
Votes
Maxwell Wuensch
  • Rental Property Investor
  • Indianapolis, IN
28
Votes |
67
Posts

house hacking question

Maxwell Wuensch
  • Rental Property Investor
  • Indianapolis, IN
Posted

I moved into my first house hacking a little less than 2 months ago. It’s a duplex so I live on one side and have a month to month tenant that I inherited on the other side who is paying $550/month($100 below market). The side I live on is in good shape and could be rented out right now at market rent but the other side is in need of repair(floor/paint/kitchen). The m2m tenant pays on time and doesn’t complain but after doing some minor repairs on her side i’m realizing it needs more work than I thought and there are tendencies of the tenant that I see being harmful to the property long term such as not telling me when things don’t work and not keeping the unit in a somewhat decent condition and since we don’t have a lease in place and I inherited her with no security deposit, there’s not standard I can hold her to. I understand that I shouldn’t expect my tenant to maintain the unit as I would and that there are benefits to her not complaining or caring much about the condition but I’d also like to be able to choose a tenant based on my criteria and be able to move over to her side so I can live in it and turn the unit quickly while simultaneously leasing out the currently rent ready side that i’m living in now to cover my debt service while I get the other side rent ready for when I move out. Would love to hear some suggestions

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