Think twice before doing this
Aug 08, 2024It's your lucky day:
Your Tenant is handy.
Good with a wrench.
Knack for painting.
Stuff like that.
So when the sink leaks, let them handle it (and shave some off the rent).
Win-win, right?
Wrong.
What's the big deal?
Well, if something goes wrong or they get hurt - you're liable.
Plus, there's the whole tax thing.
The IRS doesn't love creative payment plans.
So don't forget:
Don't swap rent for Tenant labor.
No side deals.
No bartering.
No trouble.
By Landlord Legal
No trouble, just issue #120 of The Brief.
If you think this doesn't apply to your deal, give us a shout - we may be crazy.
DISCLAIMER: Heads up - none of this is legal advice. We share stories and laughs about legal stuff for Landlords. Do your own homework and stay safe out there!