Trying to build a life
I’ve got to get some help, I’ve got a mortgage payment on a house and property that’s almost $700 monthly. The overall mortgage is close to $50,000. The place is rented out for $700 a month. Those people have lived there for years, my dad rented it to them, it’s all under the table no lease. My dad passed a year ago and I inherited it, I’ve just been letting it coast and taking the rent monthly with no changes. I haven’t done anything to establish that I am in charge other than tell them and look at the house once. The siding is dry rotted, it’s on well water but the well isn’t deep enough for viable drinking water. (They are aware) the attic needs some work and probably the basement too. Now I have to give them a lease right? How do I make them sign it? How long do I make it and how much can I raise the rent without forcing them to leave because it’s too high? Keep in mind I’m a woman in my early twenties so I know they don’t take me seriously. I lost my only guidance which was my dad.
I am currently living in a trailer that needs some work (drywall, paint, new doors, bathrooms under construction, needs new carpet in a few rooms) that my dad owned but unfortunately it is not on our property and I have to pay lot rent which is $500 monthly. It’s 10-12 thousand to move the trailer to my property but then I’d have to set up plumbing and dig another well when the first well isn’t good enough to start with. What do I do? Should I sell the trailer and move into the house the renters are in and if I do that how do I get them out because I’m afraid they are the type to start squatting. I’ve sat stagnant for a year now just out of grief but now I’m afraid I’m biting the bullet when other people are renting 3 bedroom houses out in the area for easily 1200 a month. I don’t even know if I can do that given the condition I’ve mentioned of the house.