Should I Let a Friend Rent My Property -Only If You Want It To End Badly
Why do I say this? Because from my experience 99% of the time things end bad.
People seem to forget it is a business transaction.
When people forget that it is a business transaction - things can go bad.
They take advantage of others, albeit not deliberately,but it does happen.
For Example
Painting a room and going it's ok John won't mind - only to find out it's bright PINK
Not looking after the pool - Its OK Mary won't mind
We can pay the rent late - Mum doesn't need it
There is no need for a contract. It'll be Ok (The worst thing to do is not have a signed lease)
It's alright, I will go over to Bob's house and tell him the rent will be late. He won't mind I'm his friend.
It's OK we can have a party - We won't get thrown out if things get out of hand.
My personal hate is - "Hi Fred can you come over and fix the tap. No I haven't told the property manager I didn't want to bother them" (You are happy to bother me)
When people do that, things go south very quick.
How do you stop this happening ?? Simple - Don't Rent To Friends.
If you are tempted Just ask yourself " Do I want to kick my friend out & then see them at a BBQ"? No you don't.
Personally I never want to have that conversation. Do you ?
I'm not saying all people are like that. I just never want to be in that position.
Why do I say this? Because from my experience 99% of the time things end bad.
People seem to forget it is a business transaction.
When people forget that it is a business transaction - things can go bad.
They take advantage of others, albeit not deliberately,but it does happen.
For Example
Painting a room and going it's ok John won't mind - only to find out it's bright PINK
Not looking after the pool - Its OK Mary won't mind
We can pay the rent late - Mum doesn't need it
There is no need for a contract. It'll be Ok (The worst thing to do is not have a signed lease)
It's alright, I will go over to Bob's house and tell him the rent will be late. He won't mind I'm his friend.
It's OK we can have a party - We won't get thrown out if things get out of hand.
My personal hate is - "Hi Fred can you come over and fix the tap. No I haven't told the property manager I didn't want to bother them" (You are happy to bother me)
When people do that, things go south very quick.
How do you stop this happening ?? Simple - Don't Rent To Friends.
If you are tempted Just ask yourself " Do I want to kick my friend out & then see them at a BBQ"? No you don't.
Personally I never want to have that conversation. Do you ?
I'm not saying all people are like that. I just never want to be in that position.
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