multiple units rented by family members? (apartment complex, lease, tenant, renters)
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If they qualify and meet the standards, why would it be an issue? So long as each unit is rented per the guidelines, it would be just like renting to 4 or 5 college, work, book club, dog park friends.
The item to be aware of is how the close relationship plays out with adhereing to the rules. On one hand, that many close associations may mean they do things in a pack that could appear annoying, on the other hand that may also provide a sense of stability to not do something goofy so the others wont know.
Its a tough call as so many thing could go right and so many can go wrong. Just treat each person and unit as seperate items and see what happens. The problem I have seen that some landlords have run into is that they treated the rental as a group function in thinking that if one screws up it cause problems for all. Not so as each lease is a stand alone so let each person and unit stand on its own.
If they qualify and meet the standards, why would it be an issue? So long as each unit is rented per the guidelines, it would be just like renting to 4 or 5 college, work, book club, dog park friends.
The item to be aware of is how the close relationship plays out with adhereing to the rules. On one hand, that many close associations may mean they do things in a pack that could appear annoying, on the other hand that may also provide a sense of stability to not do something goofy so the others wont know.
Its a tough call as so many thing could go right and so many can go wrong. Just treat each person and unit as seperate items and see what happens. The problem I have seen that some landlords have run into is that they treated the rental as a group function in thinking that if one screws up it cause problems for all. Not so as each lease is a stand alone so let each person and unit stand on its own.
i was just thinking out loud, sorry i should have said that before. i was just thinking if one turns into a problem (late or no rent, etc etc) then would the person who recommended them (first renter) be in hot water?
i was just thinking out loud, sorry i should have said that before. i was just thinking if one turns into a problem (late or no rent, etc etc) then would the person who recommended them (first renter) be in hot water?
Why would they be in hot water? The tenant owes the rent, not the person who recommended them.
I agree with Kim. So long as each teant and unit is a seperate thing, what one does has no impact on what another does. So Sister in Unit 1 fails to pay rent means nothing to Brother in Unit 2 or Uncle in Unit 3 so long as they paid their rent. If you kick Sister out, thats her business only.
So, now have to ask. Are these actually indiividual renters renting a unit that happened to be related in some way, or are you actually doing some type of group rental? Also, we aren't talking co-signers, these are individually qualified applicants for individual assigned units, right?
yes...family compound. I think you'ld end up having problems if not from them, then from other tenants having issues... doesn't sound like a good idea to me...but, I'm not the LL.
Koale
yes...family compound. I think you'ld end up having problems if not from them, then from other tenants having issues... doesn't sound like a good idea to me...but, I'm not the LL.
Koale
The OP isn't an LL either. They just have a lot of time on their hands to think up goofy question.
He might be thinking about moving in with his brother ( who lives in a HORRIBLE apartment complex) and he just wants to make sure who's to blame for what. ::::shrug:::::
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hmmm...
