Tenant wants to pay upfront a full 6 months. The amount of the rent decrease would be $100 per month,however the property needs some updating and the tenant is willing to do this. The cost of the updating as I was already getting pricing was about 2k. Any suggestions as to if and how to proceed.
who pays for materials? have you ever seen his/her work before? Do you get final approval on all upgrades? what needs to be done?
HELL NO! You are begging for problems with this one. Does he have a license? Has he done any professional work before? Does he have insurance? Will it be done to code or permitted? Etc…
…if he gets hurt on the job will he sue you? Will he do shoddy work? What if he doesn’t do the work at all? Rich is Right! JUST SAY NO!
Mike
Makes sense,thanks for the input. The reason I was considering in the first place is that I noticed that some landlords would allow tenants to paint or carpet a unit with their permission. This is basically what this guy would have been doing before he moved in. The place is rent ready it just has an old feel to it, and could use fresh paint, put some shine on the hardwood floors,new vinyl flooring in kitchen and baths. I guess I should stop being a cheapie, I will pay in the long run :crossfingers