Rental Business: Tenant Wants to Park New Car in Driveway used as Visitors Parking so far. Should I agree?
Topic: Business plan for rental property
June 17, 2019 / By Naphtali Question:
I am a landlord. A tenant in a Triplex plans to buy a car and park it in a Driveway that so far has been used as visitors parking by ALL tenants (none of the tenants have a car).
The tenant who plans to buy a vehicle is willing to pay $50 for the driveway.
Should I agree? how can I explain this to the other tenants? they did not sign a lease just tenant acknowledgement as I inherited them when purchasing the property. The tenant acknowledgment do not mention anything about the driveway although it is clear none of the tenant have their own parking space as part of the rent.
Best Answers: Rental Business: Tenant Wants to Park New Car in Driveway used as Visitors Parking so far. Should I agree?
Kenyon | 4 days ago
If the tenant is willing to pay for the privilege to park there why not, especially if the other tenants don't have a car. Depending on your location, but $50 seems a little to cheap. In congested urban areas parking spaces go for $200-$500 a month.
👍 96 | 👎 4
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We found more questions related to the topic: Business plan for rental property
Even if your tenants don't have cars, why would you provide visitor parking and not tenant parking? I think you should let the tenant have a parking space. If other tenants start getting cars you can make more $$ by charging to park. Visitors could be asked to park in the street
👍 30 | 👎 -5
Legally, you may have to have the tenant with the car sign a new lease (or addendum) to show that the driveway is now part of the rental...just a guess, tho
👍 27 | 👎 -14
Originally Answered: Should I lie about age to get a vacation rental?
I would not. I doubt they would press any charges (this would not really fall under the category of "fraud" in a court of law. there are different laws regarding hotels/rentals. So you don't have to worry about federal prison or anything) BUT if they did find out, you'd be out on the streets with no refund. That is really the worst case scenario. I would also not go over the max.
How many people do you have going? if it's more than 6-8 then you might be able to call a hotel and get 4 or so rooms at a "group rate" discounted price. I would call around and see. Pit them against each other too. "Well the hilton said they'd do it for blah blah" and the worst they will say is "stay at the hilton"