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Updated 11 months ago on . Most recent reply

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Amy Perry
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Inherited home, needs lots of work

Amy Perry
Posted

Long story but there is a Caretaker there. Want to start charging rent. Where do I even start?

  • Amy Perry
  • Most Popular Reply

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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
    ModeratorReplied
    Quote from @Amy Perry:

    Long story but there is a Caretaker there. Want to start charging rent. Where do I even start?


    I assume the "caretaker" is living for free? They probably can't/won't pay much to stay. They may feel a sense of entitlement, and they may not even be good renters.

    Unless this is some unique situation like a ranch that requires special skills to maintain the property, I recommend you remove the caretaker, spruce the place up, and put it on the market at market rates.

    I also recommend you look for a professional property manager that can help you navigate this immediately. Leave the caretaker in while you search for a PM, then work with them to convert this property to a rental.

    • Nathan Gesner
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    The DIY Landlord Book
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