De-Lead or Disregard?

This week The Closing Table answers a question from a listener in Somerville who wrote in to the blog.

Mike, We own a two family house and live in one of the apartments. Our tenant is a single woman who has rented for the past three years with no problems. For the past year she has had her boyfriend staying with her and is now pregnant. He plans to move in next month. Our house is old and may contain lead paint. We like her but can’t afford to de-lead. What do you suggest?

Thanks for the question and a good one at that. In Massachusetts, you need to be very careful when it comes to evicting tenants because of potential lead paint issues.

Its hard for me to tell you how to evict her when that may not be in your best interest. 

De-leading apartments do not cost as much as you may think. If you have a tenant who pays rent and keeps the place clean, they are helping to preserve your property value. You may want to explore de-leading. Also, when her boyfriend officially moves in, talk to her about increasing the monthly rent to cover your additional expenses.

There is a chance she may not even stay once the baby is born. If she is a tenant at will which means month to month, talk to her about her plans.

When owning and living in a two family home in Massachusetts, the owner has more liberty when it comes to who can live in the rental unit. She may end up being the life tenant that landlords always look for. There is a way to make this situation a winning one for you whether she stays or not.

In my opinion, explore the potential for her to stay in your house. You may make more money, avoid vacancy loss and have great tenants.