Would you do this?

[MSWR0319]

We have a lake house about 30 minutes away. DH got a text from the realtor we purchased from asking if we'd consider renting the house till June while this family's house is being built. DH is all about it. It's $15,000, which would be really nice considering we just bought a new boat. However, we don't NEED the money. We can afford things. We can often start getting on the water in late April/May and I don't want to lose that time. Not to mention this family has a small dog (we have a dog too, but that's different because I don't know how their dog acts or if it's potty trained well, etc). DH is living in make believe world and saying we can still go to the lake, we'll just stay on the boat all day. Um, I don't want to sit on my boat and watch people I don't know on my deck or in my house. Am I crazy to not want to do this? The funny thing is he's the one that gets all worked up when we can't go up on Friday night because of a sporting even or something. Now he's saying he's going to be fine with not going at all? Not to mention, how often do houses get built on time and that June deadline will turn into August and we lost the whole summer.

[SnuggleBuggles]

I wouldn't. You can kick them out in June whether their house is ready or not. But, I wouldn't be keen to deal with strangers in my house.

[specialp]

Not to mention, how often do houses get built on time and that June deadline will turn into August and we lost the whole summer.

I wouldn't because of this. Yes, you could kick them out, but are you really going to want to? These are people you know, even if not well, and you aren't going to want to do it. Plus, if they refuse, it takes a long time to physically get someone removed.

[khm]

$15k is a lot of $$.... but I still probably couldn't. I'm abnormally weird about people in my space tho. I'm boggled by AirBnB'ers who let out rooms in their primary residence, etc. Just not my reality.

But a cabin? Maaaaybe I could because that isn't my "real" home? We have considered buying a cabin with some friends, for example, so I do feel like a cabin is different.

The timing is poor though, as you say, a missed June deadline does essentially kill your summer. A summer with your kids at these particular ages that you cannot get back. You could set it up so that June 1 means June 1, no ifs ands or buts. If they have to go stay in a hotel, so be it. That's really the only way I'd do it, if they know 100% that they are out by June 1, new house or not.

[Kindra178]

I would definitely do it. 7k in each of your kids’ college funds.


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[123LuckyMom]

I agree not to rent until the beginning of summer because you KNOW their house won’t be ready on time. These will be your future neighbors, and saying no up front is much better for your future relationship than kicking them out when their house is a couple of weeks from completion. I’d reply that you often begin using the house in April and cannot have renters past March 31st. If they make a counter offer requesting the house until the end of March, I’d charge a security deposit for any potential damage and rent away. In that case, they’d have to secure an additional rental until their house is completed, so there’d be no bad blood in ending the lease on time. To my mind, that’s kind of free money unless you’d have to do a tremendous amount of work to ready the house for rent.


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[marymoo86]

I agree not to rent until the beginning of summer because you KNOW their house won’t be ready on time. These will be your future neighbors, and saying no up front is much better for your future relationship than kicking them out when their house is a couple of weeks from completion. I’d reply that you often begin using the house in April and cannot have renters past March 31st. If they make a counter offer requesting the house until the end of March, I’d charge a security deposit for any potential damage and rent away. In that case, they’d have to secure an additional rental until their house is completed, so there’d be no bad blood in ending the lease on time. To my mind, that’s kind of free money unless you’d have to do a tremendous amount of work to ready the house for rent.


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exactly

[magnoliaparadise]

I think this comes down to whether you need the money and how much you need it.

You said you don't need it. If you don't need that money, and it feels like a total hassle having people in your house, and as others have said, the renters might not be able to get out in time anyway, then don't do it. It's not worth your bother.

If you at all feel like you could use that 15K and you would notice a difference having it, and that would help you having it, then definitely do it.

[Kestrel]

If you decide to go forward with the rental, please make use you have a written rental agreement with security deposit, walk-through, ect. You will need it if you have to evict them. Require in your contract that they get renter's insurance and make sure your homeowner's insurance will cover it if there are renters.
Be prepared for the construction to run late, it's extremely common. We've built two homes and are about to start on a third. The first was supposed to be done March 31 and was completed April 15 - late but not bad. The second was supposed be done October 15 and wasn't done until December 23 - about ten weeks late. It sucked. (Try getting movers Christmas week!)

The simplest thing would be to say no, but this is a one-time chance. If you need/want that money, there will be other summers - you are buying it!

[BunnyBee]

If he insists on doing it, I would build in a stipulation with a HUGE increase in rent starting June 1. And a non-refundable dog fee.

Agreeing with PP that you can't just boot them in June. You would have to follow your state's eviction proceedings, which generally take months.