renting from a friend

[CGA]

What is the name of your state (only U.S. law)? NJ

A friend of mine owns a very nice townhouse and wants me to rent from her. I like the place and thought seriously about moving there, but I've always heard that it's best not to mix business with friendship. Plus, my friend and I have always had a volatile relationship and I just feel it's a bad idea. Even if we put everything in writing, I'm afraid problems will crop up anyway. So I told her this and now she refuses to speak to me because she's saying I don't trust her. Trust really has nothing to do with it.

Is it ever a good idea to rent from a friend? Are there ways to make it work?

 

[Zigner]

What is the name of your state (only U.S. law)? NJ

A friend of mine owns a very nice townhouse and wants me to rent from her. I like the place and thought seriously about moving there, but I've always heard that it's best not to mix business with friendship. Plus, my friend and I have always had a volatile relationship and I just feel it's a bad idea. Even if we put everything in writing, I'm afraid problems will crop up anyway. So I told her this and now she refuses to speak to me because she's saying I don't trust her. Trust really has nothing to do with it.

Is it ever a good idea to rent from a friend? Are there ways to make it work?

In money dealings with friends/family, I keep one thing in mind: Can I afford to never see this money again? If the answer is "no", then I don't put the money out.
Then, I go in to the "deal" assuming (on the inside) that the money is a gift. If it gets returns, great! If not, oh well!

Your question is a bit different, but you can see how the general concept applies.

 

[Alaska landlord]

She obviously places less importance in this relationship than you do. If you do decide to enter into an agreement make sure you have every aspect of the landlord tenant relationship on a written lease agreement. Do not be surprised if your “friend” will now reject your offer to rent from her after you rejected “her” offer.

Basically considering your relationship this can only end badly. It may even extend to the involvement of other friends which may take sides when things go sour. Also take into consideration that once you rent from her, you will have to be careful not to upset her for fear that she will attempt to evict you in retaliation. Do you really want this hanging over your head?

 

[wesawitbleed]

if your friend is having a hissy fit now, just imagine what it might be like later down the road.

AL's advice is pretty accurate. if your relationship with her is already volatile at times, becoming a tenant will just add to that if problems arise. save the future headaches and avoid a LL/tenant relationship with her.

 

[phase08]

Basically considering your relationship this can only end badly

I totally 100% agree.

"Friend?" Sidebar comment: Strange that you want to maintain ANY type of relationship with someone who 1) you've always had a volatile relationship with, and 2) is giving you the silent treatment.

I'd ditch this freak and would never consider renting from her - or speaking to her again.

 

[treese]

Ditto to what the others have advised. Don't do it because it can get really ugly really fast.

Is it ever a good idea to rent from a friend?
No, it is never a good idea because of the risk to the friendship.

Are there ways to make it work?
Sure, but more often than not, it ends badly.