Should You Buy Your First Property with a Partner or Solo? (Rookie Reply)
Summary
This BiggerPockets article discusses whether or not it's wise to buy a property with a partner, and the implications of a tenant on a lease wanting to move out while the other wants to stay. It also addresses how a host could potentially lose guest trust by changing listing descriptions after booking.
Key Insights
- •The article suggests that co-owning a property in your personal name with a partner is different than owning through an LLC and may require speaking with an attorney.
Action Items
- ✓Consult with an attorney who understands landlord-tenant laws to understand all options.Effort: highImpact: high
- ✓Hosts should document their original listing with screenshots or other proof. Guests should also take their own screenshots of listing details when booking.Effort: lowImpact: medium
Common Mistakes
- ⚠Failure to provide accurate listing details or changing them after a booking can damage guest trust and lead to negative reviews.
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