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The original was posted on /r/AmItheAsshole by /u/BeeSlow6022 on 2023-09-25 12:53:42.
My grandfather had a bunch of rental residential and commercial properties and when he passed, he left each of his grandchildren a house. The one he left me is in another state from there where I live and my initial plan was to sell the house once the lease of the current renter expires. The lease is coming up so my wife recently went there to check out the house and to find and agent to handle the sale for us.
We visited the property to see what needed to be done and met the renters. They tried to talk us into not selling the house and extending their lease. They’re a family with kids and according to them, rent is going up in the city and they can’t afford another rental house. They’ll have to go to an apartment that will cost more, won’t have a yard, and their kids will have to change schools. I’m sympathetic but they didn’t change my mind. I’ve never been a landlord and have no interest in being one. However, their pleas worked on my wife and over the week she tried to change my mind.
She said we can keep the house and continue to rent it to them but I don’t want to because it’s in another state and I have zero experience with renting a house. The other problem is the property management company that’s currently taking care of the house informed me that the state and city recently passed a bunch of rental laws that will make it harder for them to do business so they’re only taking on clients with multiple properties. This made me want to be a landlord even less. If pros can’t make money on a single property, I will definitely lose money. I told her if they want it, we’ll sell them it to them at market price. They told her they can’t afford the $300,000 down payment. My wife floated the idea that we sell them the house on the cheap but I don’t really don’t feel like selling the house for less than market value. Her other solution is to finance the purchase ourselves instead of going through a bank. Neither of us know anything about financing a house sell so I definitely don’t want to do this.
Ultimately the decision is mine since it was left from my grandfather to me but my wife is really putting the guilt trip on me to go with one of her ideas.