Renting a house you own ..

[NINE-LIVES]

What prevents them from using the address after they have been there a few months? Do you check the mail box regulary? Just asking..... i have 6 six rental properties a few have multiplie units I calim all money collected and when I pay my taxes quaterly to town I show each tenants name and where they live and since I hold all deeds (I only pay tax on these properties since they are debt free) the town has these on file I am the one and only onwer.I have been renting homes for 15 years or so and never had an issue with someone claiming residency or the squatter rights which by the way is very hard to prove in this day and age ........

Honestly, nothing. But in a court of law its hard to claim you live there when you can't produce anything that backs it up.
It's tricky, but something I stick to, along with the credit score and work history.

A high credit score usually means a person is fiscally responsible. While a long work history usually, and I say usually means the person has no personality issues and is stable. Its all a crap shoot when you let a stranger in at the end of the day.

I recently sold 2 of my homes with rentals in them and only have 1 rental remaining. It becomes a headache and in this market I had to see what I could get for those 2.

 

[Bricktop]

This may be the solution. Approach it as if she's a border in my house .

P A R T Y at poklers place

 

[Bricktop]

Honestly, nothing. But in a court of law its hard to claim you live there when you can't produce anything that backs it up.
It's tricky, but something I stick to, along with the credit score and work history.

A high credit score usually means a person is fiscally responsible. While a long work history usually, and I say usually means the person has no personality issues and is stable. Its all a crap shoot when you let a stranger in at the end of the day.

I recently sold 2 of my homes with rentals in them and only have 1 rental remaining. It becomes a headache and in this market I had to see what I could get for those 2.

I have seen 750 credit drag you through the mud downhill. Job is number one. Be wary of self employed. No uber drivers

 

[Bricktop]

Before you do anything few factors to take in.
1) How long doyou plan on keeping the house .......cause right now if you rent it out and 6 months from now you decide to sell itwith this new temp laws are in effect you can not sell cause you can terminate lease (rental agreement going thru that now myself)
2) Like Slinky says you rent her a room with access to kitchen living room and bath (if room does not have an ensuite)
3) when you meet the woman let her know your plans in advance that you will be coming up at least once a month for a week or more to see if there are any issues.

Story needs to make sense. Why does she want to live there.

 

[genius]

I honestly do not know what you guys are talking about.
If I rent an apartment that apartment is my residence.
As a tenant I have possession of that apartment and if you want me out you need to go to court with just cause for eviction. This means that if you enter my apartment for any reason other than an emergency without my consent you are committing trespass.
I can vote in the federal state local and school elections (providing I meet the citizenship requirements), I can open a library account, a checking account with my apartment as my residence and when I pay my income taxes list it as my residence. I can get mail delivered to my residence.

Unless the landlord also lives in the residence or same locality , the landlord has none of those rights.
I have the right to quiet enjoyment (look it up – it is a legal term.)

I am not a legal type but I was a landlord once and studied the laws pertaining to such.
@Slinky Bender help me out on this

 

[Bricktop]

I honestly do not know what you guys are talking about.
If I rent an apartment that apartment is my residence.
As a tenant I have possession of that apartment and if you want me out you need to go to court with just cause for eviction. This means that if you enter my apartment for any reason other than an emergency without my consent you are committing trespass.
I can vote in the federal state local and school elections (providing I meet the citizenship requirements), I can open a library account, a checking account with my apartment as my residence and when I pay my income taxes list it as my residence. I can get mail delivered to my residence.

Unless the landlord also lives in the residence or same locality , the landlord has none of those rights.
I have the right to quiet enjoyment (look it up – it is a legal term.)

I am not a legal type but I was a landlord once and studied the laws pertaining to such.
@Slinky Bender help me out on this

Yes Sir anything over 30days you’re fucked. You could do Airbnb but some one needs to be there. Once they have a key they live there as far as police are concerned

 

[Bricktop]

I've just inherited a house in upstate NY from my mom. I can easily rent it for about $850 but my wife and I like the idea of a second home we can go to once every month or so for that reason I don't want to rent it.

The downside of not renting is I have an uninhabited house for three weeks a month and that's unsettling. I have lots of stuff stored there.

A friend of my moms has a niece who'd very much like to rent it from me.

Here is my question to those with experience with renting ..

Is there a way to structure an agreement whereby I give a reduced rate ( 500) but in exchange she agrees that at any time with a weeks notice I or my wife will go there and stay a week or so ?

I'm looking for more than a handshake agreement but rather something legal and enforceable. The last thing I need is to box myself out if things go sour.

At your stage if you’ve never been a landlord before sell it or keep it empty.

 

[chevyman53]

I honestly do not know what you guys are talking about.
If I rent an apartment that apartment is my residence.
As a tenant I have possession of that apartment and if you want me out you need to go to court with just cause for eviction. This means that if you enter my apartment for any reason other than an emergency without my consent you are committing trespass.
I can vote in the federal state local and school elections (providing I meet the citizenship requirements), I can open a library account, a checking account with my apartment as my residence and when I pay my income taxes list it as my residence. I can get mail delivered to my residence.

Unless the landlord also lives in the residence or same locality , the landlord has none of those rights.
I have the right to quiet enjoyment (look it up – it is a legal term.)

I am not a legal type but I was a landlord once and studied the laws pertaining to such.
@Slinky Bender help me out on this

As A landlord I need to give the tenant atleast 24 hr notice that I need to enter. All my rental homes I can enter any space that is not rented out at anytime such as basements where the boiler and furnaces are and electrical boxes. I also store any tools or parts needed for repaires. None of the garages are rented out I can eneter as well anytie I want cause in these garages are my cars I can also enter the yards anytime I want. Yes you are correct about evections and entering your space and you are entitiled to get mail and use that address for that purpose.

 

[trader1]

I thought finding a good AMP was a conundrum —

After reading all these comments ; becoming a landlord will not be on my bucket list in the foreseeable future

 

[genius]

I thought finding a good AMP was a conundrum —

After reading all these comments ; becoming a landlord will not be on my bucket list in the foreseeable future

It's all very, very simple:
For example The Emergency Housing Rent Control Law of 1946 is still in effect even though you would think the so called Emergency is over.

Why: because there are many more renters than there are landlords.

Apparently, the 5th amendment to the constitution "nor shall private property be taken for public use, without just compensation" doesn't apply to landlords.

 

[pokler]

It's all very, very simple:
For example The Emergency Housing Rent Control Law of 1946 is still in effect even though you would think the so called Emergency is over.

Why: because there are many more renters than there are landlords.

Apparently, the 5th amendment to the constitution "nor shall private property be taken for public use, without just compensation" doesn't apply to landlords.

And I thought the 5th is what mobsters pleaded in congressional hearings in the 50's.

 

[medroogies]

And I thought the 5th is what mobsters pleaded in congressional hearings in the 50's.

Yup...but get a load of the last part
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

I'd say it just doesn't apply anymore. "just compensation" means whatever the government SAYS is "just"

 

[steveoo1970]

I’m not sure of the size of the property. But If she’s a friend of the family (and you think she’s an honest cool person capable of handling some chores), give her a cheap affordable rent and give her a groundskeeper like title.

That way she upkeeps the property and still feels like she’s getting a bargain.

She can also be good company for the wife while checking out potential spots (amps, providers etc…) in you’re new surroundings.

 

[Slinky Bender]

I honestly do not know what you guys are talking about.
If I rent an apartment that apartment is my residence.
As a tenant I have possession of that apartment and if you want me out you need to go to court with just cause for eviction. This means that if you enter my apartment for any reason other than an emergency without my consent you are committing trespass.
I can vote in the federal state local and school elections (providing I meet the citizenship requirements), I can open a library account, a checking account with my apartment as my residence and when I pay my income taxes list it as my residence. I can get mail delivered to my residence.

Unless the landlord also lives in the residence or same locality , the landlord has none of those rights.
I have the right to quiet enjoyment (look it up – it is a legal term.)

I am not a legal type but I was a landlord once and studied the laws pertaining to such.
@Slinky Bender help me out on this

There is nothing you can do to prevent a tenant from getting mail. I wouldn't even hazard a guess as to the potential downsides to interfering with UD Mail if delivery was attempted.

But also, unless you have no written lease and they only pay cash they will have other forms of proof. Plus possession is 9/10s of the law, especially in L&T.

 

[medroogies]

I've just inherited a house in upstate NY from my mom. I can easily rent it for about $850 but my wife and I like the idea of a second home we can go to once every month or so for that reason I don't want to rent it.

The downside of not renting is I have an uninhabited house for three weeks a month and that's unsettling. I have lots of stuff stored there.

A friend of my moms has a niece who'd very much like to rent it from me.

Here is my question to those with experience with renting ..

Is there a way to structure an agreement whereby I give a reduced rate ( 500) but in exchange she agrees that at any time with a weeks notice I or my wife will go there and stay a week or so ?

I'm looking for more than a handshake agreement but rather something legal and enforceable. The last thing I need is to box myself out if things go sour.

Think of it from an AirBnB arrangement.
You could offer the person a room in the house, with rights to the various parts of the house (kitchen, bathroom, etc) required for living. You could also make them responsible for the general care of it (not like paying for upkeep, but making sure it doesn't become a hoarder's paradise). AirBnB owners often do short term leases of rooms in a house (my son frequently uses them when he travels - he finds them odd, but they work). Part of the arrangement with the person, and overall I'm assuming you trust them, could be that they can lock the room you've leased them so their personal goods are 'safe' when you come up.

But in general, that's how I'd do it. In a sense, they could be 'overseeing' the house in exchange for a cheap rent. I don't think you could get them to leave when you visit, that's the only downside. But if it were me, I don't think I'd mind having someone there full time as long as I can use it once a month.

 

[pokler]

Think of it from an AirBnB arrangement.
You could offer the person a room in the house, with rights to the various parts of the house (kitchen, bathroom, etc) required for living. You could also make them responsible for the general care of it (not like paying for upkeep, but making sure it doesn't become a hoarder's paradise). AirBnB owners often do short term leases of rooms in a house (my son frequently uses them when he travels - he finds them odd, but they work). Part of the arrangement with the person, and overall I'm assuming you trust them, could be that they can lock the room you've leased them so their personal goods are 'safe' when you come up.

But in general, that's how I'd do it. In a sense, they could be 'overseeing' the house in exchange for a cheap rent. I don't think you could get them to leave when you visit, that's the only downside. But if it were me, I don't think I'd mind having someone there full time as long as I can use it once a month.

This is the exact arrangement I want. She rents one of the three rooms and use of common areas. She looks after the house. Three weeks a month she's there alone and one week we are there as well taking room across the hallway.

All good in theory but the trick is to cement it on paper. I guess I hire an attorney to draw up a paper ?

 

[Bricktop]

This is the exact arrangement I want. She rents one of the three rooms and use of common areas. She looks after the house. Three weeks a month she's there alone and one week we are there as well taking room across the hallway.

All good in theory but the trick is to cement it on paper. I guess I hire an attorney to draw up a paper ?

Nothing to draw up contracts that are not legal are not enforceable. You pay her as an employee and you can put her out when her employment is terminated.

 

[genius]

It ain't all that simply and the rules below are pre-COVID rules.

FWIW:
Month-to-Month Tenant:

From https://www.lawny.org/node/69/general-eviction-information-new-york

If you don't have a written lease and you pay rent monthly, or your written lease is month-to-month, you can be evicted only if:

• You owe rent and you were served with a 14 day demand for the rent, or
• You received a full month’s notice that the landlord is not going to renew your month-to-month lease. If your landlord terminates your month-to-month agreement after October 12, 2019, there are new notice requirements. If you have lived there less than one year, the landlord must provide at least 30 days’ notice. If you have lived there more than one year, but less than two years, the landlord must provide at least 60 days’ notice. If you have lived there more than two years, the landlord must provide at least 90 days’ notice.

 

[medroogies]

This is the exact arrangement I want. She rents one of the three rooms and use of common areas. She looks after the house. Three weeks a month she's there alone and one week we are there as well taking room across the hallway.

All good in theory but the trick is to cement it on paper. I guess I hire an attorney to draw up a paper ?

Making it "official" is hard. To the point, you can't really 'rent' it to her. The suggestion of make her the employee - that's more reasonable.
She can be your "housekeeper" of some sort, and her employment arrangement would include a room, an arrangement which can be terminated at whatever point you decide.

The alternative is to list the room on AirBnB or some site like that, but only let her have it, and then you can say it's full all the time. AirBnb gets a small cut, but they handle all the legal BS for you. I would consider that sub-optimal, but doable.

The employee/employer tack is more reasonable and enforceable.

 

[ahass1966]

If you don't care about earning money from the property but want it kept in good condition (and look "lived in") it would be better to "hire" her as the house's custodian, with her compensation being the use of the bedroom, bath, and common areas. In return, she would have the responsibility to manage the house, keep the cobwebs dusted, mow the lawn (or if you decide to hire a landscaper, make sure the landscaper comes in once a week), and have a list of phone numbers (electrician, plumber, HVAC) to call whenever something goes wrong with the house's systems. If she's handy herself, pay her to make repairs (once you've verified she can do it, and that it's a repair that actually needs to happen). For instance, if it's an old house and needs updating, having someone who lives there who can patch and paint the walls would save thousands of dollars in hiring professional painters.

My cousin owns a lot of rental properties, and has a few people doing this kind of thing for her for free rent.