*Edit: JFC, I’ve been physically ill at the thought that I was just trying to justify choosing something that was just shitty behavior. I haven’t even been all that comfortable talking to my therapist about it as much as I’ve needed to. And reading every single response (so far)… well i’m in literal tears over the relief I feel not being alone in thought. Thank you. *
To clarify, they want me to use the money to buy a duplex / other property for me take care of (for the entire place) and to renovate and to live in, while renting out the other unit/room/whathaveyou so that I don’t have to worry about property taxes or the basic necessities of life.
(feel free to ignore this paragraph explaining my anxities and ignorance)The entire topic of inheritance and the circumstances leading to one has caused several of my worst panic attacks when it has been brought up in the past. (Bad enough to require medication assistance to regulate) And thankfully, this family member was aware and stopped bringing it up as they were in the habit of doing. Over the last 2 years I’ve come a long way with my issue and getting help fortunately, which has proven to be useful in this context recently. Their health recently took a scary decline, I’ve been able to regulate myself in the discussions that have followed, within reason.
I haven’t yet been capable of asking the specifics on how much money it will be, or if there will be any trusts or whatever etc. And honestly, I don’t think I’ll be able to in the near future. But the way they talk about it, it sounds as though it will be enough to at (at least almost) pay for a small duplex type of situation.
I’m currently unhoused, and have been for over a year, so there is no love of capitalism in me, much less any desire to “be a landlord”. I feel very ethically convicted against becoming what I think of when I think of Landlords, even one of those local 2-3 property owning ones.
Unfortunately I feel that clashing with the rest of values surrounding honoring the wishes of what is currently my last surviving relative (who I still remain in contact with and love dearly). Not to mention whatever might be a part of any legal stuff pertaining to her will. (which I know hardly anything about and still makes me panicked just typing about)
My main question:
Is it ethical to own a property that I live in, provide the standard maintenance for, and work on renovating… and also rent out part of it?
I value my ethics, and part of that has always been assessing the nuances thoughtfully. When I think about the specifics of this, I find difficulty in framing that situation as the role of a landlord. Landlord being defined, at least the way I think about what a landlord is / the way other people use it.
My followup question:
Is anyone who is paid money that is for sure another person’s “rent money” considered a landlord, regardless of it being the only property they own? Even if they also live there?
*Edit 2: for only those in such a position, I have no shame sharing this link since the 1st time was many months ago https://gofund.me/9bd76285 *
You want to know what’s unethical? Planning and allowing someone close enough to receive an inheritance wait for you to die before you provide them housing. Hopefully I am off base here, but it sounds like they could set you up with this situation now.
It sounds pretty shitty for a landlord to charge enough to support the remainder of their life with the rental of only half of a house, and it sounds like that is the intended plan for you. Just don’t charge so much as to be taking advantage of those without the privilege of inheritance, and you may even be providing value to the renters, as other comments have suggested. Feel good about that.
Unfortunately I don’t think that there is any real ability for it to happen without her estate liquidation. Her home is lovely nice and in great shape and her many high-value belongings are in great shape too but they have to be sold I think I can’t really even stand asking a single question about all this but I certainly don’t feel as though I’m being cheated.
Especially considering my current situation is partially due to tha fallout from something I thought would never result in an inheritance much less a positive relationship (my having come out as trans 2 years ago while living and helping my mom care for her for 5 years while healing from some really intense trauma and the threat of more that was my prior renting situation… Aaaand being let go the same week due to company buyout just led to having to move out without somewhere to go) so anything I am getting is unexpected and icing on the cake that is having any relationship at all with my last remaining family member.
Oh and take a look at some of the other replies I’ve made as to my thoughts on the rest of your comment, sorry I just don’t feel like typing it out anymore. I have led a pretty rough life that still isn’t out of the weeds yet, and it wears down on a girl to reshare sometimes.