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HANDY WORK
VS. RENT?
Show me a rental home owner and I’ll show you a landlord who has been offered the chance to rent out the house at a reduced rate in return for handyman work. Is this type of arrangement good for the landlord? My advice is to stay away from it. Rent is rent and repairs are repairs. Don’t mix the two.
Any work performed should be compensated on a fee-for-service basis. If you accept services in lieu of rent you may be asking for problems and misunderstandings.
Initially, it may seem like a bargain and cost-effective to have a live-in handyman. However, it never works out that way. The handyman will always find enough work (in his mind) to just equal the amount of rent. The work will stretch out each month and eventually you’ll be paying for his “work time” sitting in front of the TV watching football games.
When you buy a rental home for investment, lease it to someone who can afford to pay the rent in real money. Any other type of arrangement is a form of Russian roulette.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 6753400. We’re here to help.
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