Family Ever After Blog

Family Ever After Blog

  • Home
  • About
  • Lifestyle
  • Family
  • Tips
  • Food
  • Baby
  • Blog
  • Contact

September 27, 2019 by Sofia

3 Reasons Why You Shouldn’t Rent to Friends

FacebookTweetPinPrintLinkedIn

Owning a rental property is tough work. In addition to understanding the legalities of leases (which requires a detailed knowledge of laws such as the Fair Housing Act), you need to make sure your tenants are a good fit for the property.

Every landlord has a screening process designed to ensure two things: that their tenants are able to afford the space, and that they won’t leave it looking (or smelling) worse than they found it. Both of these can usually be ensured through a criminal background check and a credit check, but even the most thorough of landlords may end up dealing with problem tenants. Visit this page for more information about background checks.

Unfortunately, this issue can become greatly exacerbated when said problem tenants are your friends. Let’s take a look at three major reasons why you shouldn’t rent a room, an apartment, or a house to your buddy from college or your best friend from high school.

Maintaining a professional relationship becomes impossible

Tenant-landlord relationships are, first and foremost, professional. As the owner of a rental property, you are responsible for setting the rules and your tenants are responsible for following them. After all, leases exist to ensure that both parties stick to their end of the bargain.

When you rent to a friend, you’ll find that that professional boundary gets muddled. Your pal might start asking for extensions on rent payments, or begin blatantly ignoring the rules of the rental agreement because they believe your history together means you’ll give them a pass. Re-establishing those boundaries is hard at best and impossible at worst, and may lead to the next bullet point.

It could cost you your friendship

Being a landlord means being an authority figure. Your friend may struggle with that interpretation, especially if you’ve known them for a long time. At the end of the day, this can cause a serious rift.

If they continue to disregard your rules, you’ll be forced to lay down the law in a way that won’t sound so friendly. In such cases, you won’t just be losing a tenant when the lease ends — you’ll be losing a friend.

You’re the one has to pay in the end

Loss of friendship aside, you are still running a business. If your rental agreement states that no pets are allowed, and your buddy thinks you’ll be fine with his German Shepherd because you go way back, you’re the one who’s going to be left with a mess.

If your friend has a smoking habit, they may be inclined to light up regardless of any non-smoking clauses in the lease. From the cost of a complete deep clean (which can cost even more if cigarettes are involved) to general repairs, you’ll find yourself out of more money than you ever made from their presence.

Being a landlord is difficult enough as it is; you don’t want to add to the pile by putting a couple of your closest friends under a roof that you manage. Fortunately, you have plenty of tools at your disposal to help you find respectable strangers instead. Innovative software options like Turbo Tenant are uniquely designed to do all the digging for you — no muss, no fuss. Compared to the alternative (and all of its potential costs), renting to newcomers is always a better choice.

Rather than run the risk of a ruined apartment and a ruined friendship, establish one simple rule: no friends allowed. No matter what landlord-tenant resources you rely on, you’ll be grateful you chose John Doe over your favorite drinking buddy.

To read more on topics like this, check out the lifestyle category.

FacebookTweetPinPrintLinkedIn
❮❮ Previous Post
Next Post ❯ ❯

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Me and My Family

Hey! I'm Sofia, mother or two and happily married to my husband, Lorenzo. We believe family is the most important thing in life today. People can get easily distracted by all the business life brings. This blog is dedicated to helping you navigate life and spend more time with your family!

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018

NEWSLETTER

Follow Us Online

  • Facebook
  • Instagram
  • Pinterest
  • Twitter

Recent Post

  • Mediation For Spouses That Have a Child -Know Everything Here!
  • Formula Feeding: 6 Pros and Cons Parents Should Understand
  • 3 Tips for Bonding With Your Partner at Home
  • 5 Top Jewellery Items You’ll Never Regret Buying
  • Tips for Helping Your Aging Loved One

One and Co

Featured

Mediation For Spouses That Have a Child -Know Everything Here!

Formula Feeding: 6 Pros and Cons Parents Should Understand

3 Tips for Bonding With Your Partner at Home

  • Home
  • About
  • Lifestyle
  • Family
  • Tips
  • Food
  • Baby
  • Blog
  • Contact

Copyright © 2018 ·Family Ever After Blog