Children in a rooming house.

I have multiple homes for rent and sale.  One of the homes is a rooming house.  Lately I have been getting a lot of calls from individuals requesting a room for them and their children.  I havent been accepting children just adults over 18, and the rooms can't occupy more than two (but I charge extra for couples).  I'm starting to see that I am losing revenue this way.  I don't accet children for several resons. One being space and another being conflicts with other tenants in home. Do you think I should change my policy a little? Why or why not?

I'm in the process of purchasing another home. It needs a little work but I have a vision and the most important thing is I have a plan.  But with that being said there is one thing I am going back and forth with and that's how I'm going to renovate this home.  Should I turn it into a rooming house (which brings in some type of income each month whether it is a few hundreds dollars or a couple thousand a month) or rent it as a single family (which can be steady income (but less) if one signs a lease, but can be a lost if home goes unoccupied).  I'm weighing out the pros and the cons, the benefits and the applied benefits.  At this point I have one rooming house that I own by myself, one home that I own and rent out monthly, and three rooming houses that I have partnerships with. With the aspect of income I think the rooming house would be the better idea, but with the hassle I think single families are more convenient. So I ask myself which is more important generating income or being hassle free. Here are a few sites I looked at based on this what do you think?

http://wiki.answers.com/Q/What_are_the_advantages_and_disadvantages_of_boarding_houses

http://www.propertyinvesting.com/forums/property-investing/help-needed/25531

http://www.investmentproperty-austin.com/tag/pros-and-cons-of-investing-in-a-single-family-home/

http://www.realestateforum.com/blogs/aljay/3254-single-family-houses-pros-cons.html

Sister wants to move in?

Hi. Everyone today I want to ask a question. Do you think it is a good idea to rent to family? Why or why not? Here's my situation I have a sister who always looks to me for advice. At this point she is having problems with her landlord and by me being a landlord of course she came to me.  She moved into a house and at the time it was warm and she didn't know that the furnace didn't work.  So she lets the landlord know and he says he would get it fixed but that was two weeks ago. She now tells me that she didn't pay him the rent and he is threatening her to evict her.  I told her technically its his property and its his right to evict her because he owns the property and she still has to pay. She needs to go about things the legal way; pay rent, call the building inspector (the city) and take him to court.  The landlord is in the wrong and should provide at least some space heater. But back to my question do you think it is a good idea to rent to family? At what point should family be family and business be business?

I have a a tenant that I call Old Faithful (which means they pay on time and been in building since I opened in 2009). They called me and told me that they are having financial problems and asked could they pay me a little late.  Now I agreed to give them two weeks.  Now the two weeks have come and gone and no call. What should I do?



Garage costing me money

I moved downstairs in a duplex and everything seemed to be fine until the issues came. Tell me what do you think I should do? There is a three car garage. The lady upstairs occupies one side and I occupy the other side, but I have two vehicle so I asked the landlord could I use the additional side.  He said yes for a storage fee which I agreed upon.  Here comes the issue; We Energies came out and disconnects my service on accident trying to do the upstairs. So as I planned to leave (of course) I go to the garage and the garage door doesn't open. For starters the walk through door is boarded up so the only way in and out is using the garage door (which is only operated with the garage door remote) so I call the landlord and he comes over trying to troubleshoot (as if he didn't already know), but anyways he tells me that by the lights not working the garage wasn't going to open. Now I'm even more pissed because my lights are off until the next day, I cant get my car out the garage, and the whole time I've been living here I've been paying for extra storage of the garage and the garage is actually running of my electricity! Wow! I think he owes me some money!

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