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Having done this in the past (as the labor, in college). Your tenant will always feel like you’re screwing them. You’ll also be getting their work after a work day.
These sort of barter deals never work out like we think they will........one person always ends up on the short end of the stick.
Looks good on paper, not so much in the real world.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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without getting into it, it's usually a bad idea.
But hey, no one listens to me here anyways
A friend of mine did exactly this. She is regretting it emotionally as well as financially and will be for a while.
I would never do something like this, I'd rather charge them rent and give it back after the work is done.
There was a story about an older lady who agreed to work as a nanny and housekeeper in return for free rent. Then she just stopped working and the family had a very hard time getting her to leave and I think they had to evict her and could not even ask for rent while she was there nor afterwards.
So always do a full background check to make sure they have never been evicted. Because that's the kind you may attract, freeloaders who know the system and a second eviction won't mean much if the next sucker doesn't check.
There was a story about an older lady who agreed to work as a nanny and housekeeper in return for free rent. Then she just stopped working and the family had a very hard time getting her to leave and I think they had to evict her and could not even ask for rent while she was there nor afterwards.
So always do a full background check to make sure they have never been evicted. Because that's the kind you may attract, freeloaders who know the system and a second eviction won't mean much if the next sucker doesn't check.
There are always the cautionary tales. But they can scare people away from great adventures and
situations. AirBNB for example. All the "what could happen" stories. But I know lots of people that love the
lifestyle and enjoy all the interesting people they meet.
There are always the cautionary tales. But they can scare people away from great adventures and
situations. AirBNB for example. All the "what could happen" stories. But I know lots of people that love the
lifestyle and enjoy all the interesting people they meet.
The only way I could see it work is if you were doing basically the GC role and subbing in the tenant for pay every now and then.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
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Quote:
Originally Posted by kelly237
There are always the cautionary tales. But they can scare people away from great adventures and
situations. AirBNB for example. All the "what could happen" stories. But I know lots of people that love the
lifestyle and enjoy all the interesting people they meet.
Yes my friend met the most interesting person and all the remnants he and his buddies left. Not to mention the adventure of paying to clean up the huge mess, needles, sewage and garbage in the basement, and damage done to the property. She had to get a loan to pay for it.
Yup, quite the great adventure.
Put an ad up looking for this kind of tenant and you will get LOTS of answers. Most of them will be people who just don't want to pay full rent and will tell you anything to get the position. Then, once they are ensconced, see how hard it is to get them out.
We used to have a rental house (next door to ours) and as it was an old house, we looked for handy tenants. One fellow impressed us with his knowledge of carpentry but when he complained about the faucet dripping and we told him, Just change the washer, his reply was How do you do that?
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16693
Quote:
Originally Posted by vrexy
What is the GC role? I don't know what that means.
General contractor
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