Be wise - especially when renting to family or friends

[WiseOne]

My husband and I had some difficulties when we decided we would rent to some folks we knew. Even though they gave us their word they would always pay and begged us for the apartment, they eventually abandoned it and never caught up their back payments. It's a business - friend or no friend - everyone must pay.

[Mindy]

Yes Id agree its better to keep business and family and friends separate

[mabel normand]

Never rent to family or friends. If you can afford to give them a place to stay, by all means do so. But expecting people who have a personal relationship with you to respect the boundaries of a business relationship is somewhat foolish.

[omnisource]

Very true, you might as well give them a place for free to stay for a while if you can. There are your friends and became your friends by not being business partners. To save relationships its best to work out all other alternative scenarios.

[alessadry]

Absolutely true. Make sure there is a contract and nothing based on only words. Friends or none the rules stay the same. It is sometimes better off renting to completee strangers than your best friends. A great way to know how friends really are is when money is in the middle.