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I currently own a mother daughter house I originally purchased with my brother.
Currently, I live downstairs, and we have a tenant living uptsairs. My brother does not live at this house.
However, I just got a job way ou in suffolk and would like to move out east. My question is, can I rent both my upstairs AND downstairs? Is this legal? (Probably not). Has anyone had any experience or heard of this situation?
I am currently underwater on my mortgage, so I cannot sell the house, but I also need to move. Does anyone have any suggestions or insight? I am not looking to become a slumlord and want to get good tenants. I just happen to find myself in a bind and feel stuck.
It's hard to say with so few details, but it sounds like what you're doing right now is illegal. A mother/daughter is only valid for family members, so if the tenant upstairs is not related to you, the mother/daughter permit doesn't cover it.
It's hard to say with so few details, but it sounds like what you're doing right now is illegal. A mother/daughter is only valid for family members, so if the tenant upstairs is not related to you, the mother/daughter permit doesn't cover it.
Exactly! Mother-Daughter is for family/relatives only.
Unfortunately what you're doing now is already illegal; renting both portions would just compound your situation. :-(
Sounds like someone bought more house than they could afford to begin with (because you needed a brother help you out). And on top of that you needed a tenant to support your lifestyle. Living beyond you means much?
Reality check! Sounds like you should start reading up on Short Sales.
Sorry, I have no sympathy because you sound exactly like my previous Land Lord, whom I have no respect for.
Mean while you better trade in that SUV* for something kinder on your wallet. You have the benefit of a reverse commute, but prices at the pump will kill you.
*You might not drive a SUV, but I'm just stereotyping people that live beyond their means, mortgaged up to their ears, living on credit, and lease the late model SUV they really don't need. I let my imagination run wild based on the little info you gave us.
My brother and I bought the house back in 2007 (before the bubble burst) and he lived upstairs and I lived downstairs. 5 years later, my brother has children now and needed more space for his family so he purchased a seperate house with his wife.
I posted to get intelligent replies, not holier-then-though criticisms.
FYI, i drive a 2007 nissan sentra and it is paid off. I paid off all 30K of my student loans and also have $60K in the bank. I have no consumer debt whatsoever. I am an avid saver and live well below my means.
What are the reprecussions if one is reported for renting 2 apartments?
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Have you considered just selling it as a single family home with the in-law suite allready configured if needed? Let the buyer determine how them would like to use the space.
I don't see how I came across as "holier-than thou" by assuming you were like my previous LL, but anywho...
If you don't want to sell, why not just rent the whole house out to 1 family instead of 2? This was there's no confusion about which tenant mows the lawn, shovels snow, pays for oil, H2O, electric, etc.
Not sure if you would qualify to purchase a second house when your first mortgage is upside down. So you would be renting out east as well?
Sounds like someone bought more house than they could afford to begin with (because you needed a brother help you out). And on top of that you needed a tenant to support your lifestyle. Living beyond you means much?
Reality check! Sounds like you should start reading up on Short Sales.
Sorry, I have no sympathy because you sound exactly like my previous Land Lord, whom I have no respect for.
Mean while you better trade in that SUV* for something kinder on your wallet. You have the benefit of a reverse commute, but prices at the pump will kill you.
*You might not drive a SUV, but I'm just stereotyping people that live beyond their means, mortgaged up to their ears, living on credit, and lease the late model SUV they really don't need. I let my imagination run wild based on the little info you gave us.
you got all that from the op's post??
Holy mother of all assumptions!!
To op, you can rent out all levels of the home if you'd like. I have seen someone with 3 different tenants. It depends on how your neighbors feel about it. Town of Hempstead is a little more lax with illegal rentals. I wouldn't try this in a town like Oyster Bay. If your neighbors are cool with it, then you shouldnt have a problem. If one of your tenants annoys a neighbor and they report you, then you will run into major problems $$$.
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And they're more practical while doing it. 
you got all that from the op's post??
