What hassles come with renting out a self-contained suite (separate entrance) attached to your own house?

Question

And, if you live in something like that, I'd love to hear what you think of living so close to your landlord; what the problems are, etc.

Mind, if anybody wants to discuss the advantages, feel free...

Answer 1

I live in the bottom half of one of my rentals. There is a 2 bedroom apt upstairs with a separate entrance.
It depends on the type of people you put in there. If they have kids, expects noise.
Even if its carpeted, you will still hear them walking across the floors.
You will hear every arguement they may have.
You can even hear them shower.
Plus you have to try to be quiet too. And they can hear everything you do.
The only REAL advantage is I get my rent ON TIME. They cant say it got lost in the mail.

Answer 2

the problems are dealing with people. we all think we are right and reasonable. there fore if there is a problem, the other person caused it.

i have been a landlord multiple times. you proximity rarely is an issue unless you want to micromanage.

to get good renters is very easy.
get tne phone number of the current land lord, and trhe number of the prior landlord.
you call them both and ask the same question. would you rent to this person again.
listen to what the current landlord says, but don't put uch stock to it. a landlord will iet to get rid of a bad tenant, and to keep a good one.
the prior land lord is the key. they have no ax to grind.
deposits and prepays are up to you.
using this formula i don't need to take deposits.
i set a rent substantially higher than i want, then say of the rent is paid before this date each month i will give you a x$ credit.
when someone can save a bunch of money by paying on time they do.
the courts will uphold the higher amount of rent, if you have ot go to court, but rarely give late fees.

i have rented rooms in my house, a duplex ahd houses, and have lost money on one and only one tenant with this formula.

if you do section 8, put in the contract that all rent money is to come directly to you, and if that doesn't happen it is grounds for IMMEDIATE eviction. this too is legal.
if the tenant changes the agreement, and you don't get the money,DO NOT agree at all, just call the marshall or sheriff for breach of contract and eviction.

Answer 3

The only advantage would be the rental income, and perhaps meeting some new friends. The hassles could be many, and some could be serious- they may not pay their rent on a timely basis or at all, excessive noise, they could be slobs and trash the place, they could smoke and smell up the place or burn the house down...... and in most places it's extremely hard to evict people even if you have good cause.