Family protests when woman refuses to rent apartment to cousin at half of market rate: 'I could easily rent it out for $1800'

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  • A representation of a man sitting opposite a bed to tie his shoelace
  • Would I be wrong for refusing to rent my vacant apartment to my cousin at a fifty percent discount?

    I am currently facing a massive wave of guilt tripping from my extended family, and I need an objective reality check. I own a small, one bedroom apartment that I lived in for about four years before saving up enough to move into a slightly larger place closer to my current tech job. Instead of selling the
  • old property, I decided to keep it as an investment to help offset my current mortgage. It is located in a highly desirable area downtown, and according to the current local market, I could easily rent it out for about eighteen hundred a month. The plan
  • was to do some basic cosmetic repairs this month and list it on the open market by June.
  • A week ago, my aunt found out that the place was sitting vacant. She immediately called me and started aggressively pitching my cousin as the perfect tenant. My cousin just graduated from college and is starting an entry level job in the city, but his
  • A representation of a woman in loungewear walking into a room with a couch in it
  • budget is completely non existent. My aunt flat out asked if I would let him move in for nine hundred a month, which is exactly half of the actual market value. When I hesitated, she started going on about how family needs to stick together, how I am doing
  • well financially so I can afford to be generous, and how this would give my cousin a massive head start in his career.
  • I told her that I would need to think about it, but after running the math, I realized this would be a total financial disaster for me. I am still paying off my own mortgage, and losing nine hundred dollars of potential income every single month means I would
  • basically be subsidizing my cousin's lifestyle out of my own pocket. On top of that, everyone knows that renting to family is an absolute nightmare when it comes to boundaries. If he damages the floors or falls behind on his utility bills, I cannot exactly send a formal
  • eviction notice without completely destroying the family dynamic at Thanksgiving.
  • When I finally called my aunt back to politely decline and explain that I need. to rent it at market rate to cover my own expenses, she lost her temper. She accused me of being a selfish, corporate minded snob who values money over bl d. Now my mom is
  • getting involved, saying that even though she understands my position, it might be worth taking the financial hit just to keep the peace within the family. I feel like I am being backed into a corner for simply wanting to treat my real estate investment like a business instead of a charity organization.

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