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My sister lives in my other house....??? What are your thoughts

I bought a vacation house A few miles outside of Santa Barbara, Ca. Well My plan was to fix it up over the next couple years and then put it back on the market so I can get another vacation house, do the same thing, and make money at the same time.

Okay well my sister got a Scholarship and Gets some Financial Aid. So all of her school expenses are taken care of. My mom didn't want to pay for a dorm, an my sis didn't want to pay for an apartment, so I let her stay in my house.

So far her only job is to make sure the house continues to get renovated. It's a 3 bedroom house. She was asking me if she could rent the other rooms out to some friends, which means I'd have to play land lord, Urggghh, or she would but I am still actually responsible fort the property. But here's where I'm playing with Ethics

::::She wants them to pay rent to help on my monthly mortgage for the house :) sounds great. Charge $550 per person, and they'd get a deal and I'd get a deal
:::::She doesn't want to have to pay anything but she doesn't want me to say anything about that.

Should I let them move in?

 
Anonymous

Asked by Anonymous at 1:54 PM on Nov. 28, 2010 in Money & Work

This question is closed.
Answers (19)
  • If it is just sitting there and she has an idea to make you money then go ahead and do it if you think they would take care of the property and not turn it into some kind of frat house or something.
    BlainesMommy09

    Answer by BlainesMommy09 at 1:56 PM on Nov. 28, 2010

  • my gut feeling on this one is no... those kids could do a lot of damage to your home and if anything happened to one of them in this home, you would be liable and could have legal problems.

    I think it is fine for your sister to stay there, because she can be there when workers come to do whatever is needed to the house. I do not think that she should be allowed to live there totally free... I think she needs to be doing something to earn her keep, like painting, cleaning up the property, etc.
    neebug3766

    Answer by neebug3766 at 1:59 PM on Nov. 28, 2010

  • It sounds like a good deal as long as those new tenants don't tear the place up!
    older

    Answer by older at 2:10 PM on Nov. 28, 2010

  • Interview them, check references, check their credit score and make them fill out paperwork the way you would with a regular tenant. Don't play favorites just because they are your sister's friends.
    HotMama330

    Answer by HotMama330 at 2:26 PM on Nov. 28, 2010

  • well i can't decide for you, obviously, but we've rented out our other rooms to my family, and even if we're blood, i didn't care - GET EVERYTHING IN WRITING!!!!
    you decide on whatever particulars you like, but write up a rental agreement, check it with your state's laws, and have her and any roommates sign it. we've only been sharing the house for a few months, but it's helped settle any dissagreements. let me know if you need any ideas on what you want it to say (pm me)
    AngryBob

    Answer by AngryBob at 1:57 PM on Nov. 28, 2010

  • Ugh!

    So does she currently pay you then? I think that she's being smart and looking out for herself, but at the same time she's going to leave you in a bind if they do damage to the house.

    What I would do is tell her that she can do it IF SHE (your sister) gives you a deposit. If the house is still in good condition when the roommates move out, then she gets her deposit back and if things need fixing (beyond normal wear) then it comes out of her deposit. Make this an official contract with her.

    If she's smart enough to come up with a way to pay the rent without it costing her, that's smart. But protect yourself too from potential damage. If her money is on the line (the deposit) she will make good choices as roommates and she will make sure things don't get crazy.
    slw123

    Answer by slw123 at 1:59 PM on Nov. 28, 2010

  • I agree, you need a rental agreement even with your sister. I still would not let her friends move in, though.
    neebug3766

    Answer by neebug3766 at 2:01 PM on Nov. 28, 2010

  • I would draw up a lease plan for each tentant and charge each a 250 deposit, that they will of course not get back. Most likely you will have to do a lot of clean up or repairs after they move out. Also if they get any pets, make sure they pay a nonrefundable deposite for that. Good luck.
    trashymom

    Answer by trashymom at 2:02 PM on Nov. 28, 2010

  • This is what she does. She works PT to pay for her car. She has a time schedule on what needs to be done. for a quick example.

    By Jan 15...Plumbing and Electrical Inspections need to be done.
    Every month a room needs to have the walls redone, meaning old sheet rock out, new Sheet rock in. For instance, water resistant sheet rock near bathrooms and such, fire resistant in the kitchen.
    By June 1st, I want all Landscaping done. Front and Back Yard.
    By August 31st New Tile and Wood Floors installed.

    I kind of thought that her playing general manager for the contracting was good enough. Plus I have a whole Timeline for the following year, regarding replacing cabinets, Paint outside, etc.

    She wants them to move in...She's offering they pay rent as an incentive.
    Anonymous

    Comment by Anonymous (original poster) at 2:14 PM on Nov. 28, 2010

  • It will be very difficult to renovate with a house full of paying people. I wouldn't.
    tootoobusy

    Answer by tootoobusy at 2:21 PM on Nov. 28, 2010

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