My Mom Threatened To Sue Me....

So you prefer your mother pay MORE rent to a different landlord rather than get a discount on rent from you? He isn't running a charity. He has to think of his children/spouse or future children/spouse too. He didn't force his mother to give birth to him, it was something she did without any input from him. He still wants to help her out, but he cannot afford to risk his own future to do so. It's nice if you are very rich and you can do that without risk to your future, but very few people are in that position to just buy your parents a nice condo for free.
It's just my opinion and I don't expect you to agree with me. But it's how I was raised. My parents live with me and if can't you afford to pay rent/buy a place for your parents why can't you just let them live with you?
 
If i see this thread on someone's profile I wouldn't even think about doing any business with that person. This is your mother.
 
Legit. Crazy isn't it???

So as I am sure you are aware that having money in the bank is useless to a point.. The goal is to get assets and create multiple sources of income from those assets to grow your net worth.

So I decided to get a loan and buy a cheap condo and guess what... MY MOM wants to rent from me!!! Awesome right??? I think not.....

Some things were needing to get done to the condo which started back in July 1st 2020.

After about 80% of the renovations being done, July 16th or 17th comes around and my contractor got COVID-19 sadly and had to stop work...

Well, my mom was scheduled to get moved in by August 1st, 2020 and with him getting COVID it delayed the renovations....

My moms rent started on August 1st, 2020... The amount was deducted from her account..

We agreed we would prorate the amount that had delayed her to move in which was 6 days... (Making renovations complete by August 6th).

My rental property management system charged her the full amount and not the prorated amount. (The prorated amount would be applied to the next months rent).

She legit threatened to cancel the entire contract, requested I pay her the full amount back and now I would have to find a new renter to take her spot..

WTF?!?

She said she needed the prorate to apply to this month and not next and I told her about the processor balance and how it would apply to next month and she was NOT having it. She immediately requested to cancel everything and she wanted her money back within 24 hours!!!

What do I do??

***Btw, I can't open a shitlist against her because she is not on BHW.

Please help :D
SMMnet after all its your mother please think thrice ,remember this you are here because of your mother she deserve everything you have
 
she probably thinks its a standard thing and your losses will be covered by your insurance.

Never ever Fucking Ever!!!! tell family about property investments or investments at all for that matter. Family members will be the worst for actually paying rent and at the end of the day chances are your have a mortgage and the mortgage company couldn't give a fuck that your mother can't pay her rent because she gave her rent money to her friend Doris to help with vet bills.
 
It's your mom who raised you to be who you are now. Be thankful and let her move in if she needs it no matter what..
 
If you are so business oriented and doesn't care that its your mom. why would you even mention that its her
 
So you think I should refund the prorated amount + give her the next month prorated?

That is not how business should be conducted...
Lol :D Not how business should be conducted? It's your MOTHER :D

Doesn't look so strange that she wants to sue you anymore :D
 
And that's why I avoid business with in family if I'm not 1000% sure it won't comeback at me.
Like I would never sell a used car to family and friends.

Also I've rented from my parents before, and I treated that like any business. In the end we signed a standard rent contract.

You charge your mom rent? Where they do that at?

You are "charging" your mom? Just rent it to her for free.

I don't know where you guys live, but here in Germany the tax and revenue office forces you to collect a rent on a object you're not using yourself.
Forcing maybe the wrong wording, but they will take the avarage rent for that area and let you pay taxes for that.
So you can rent to your family for a lower value than the average rent prices but you're limited to around 75% of that.

Also it's not economical to pay interest rates for a loan and taxes for money you won't get.
So that's gonna be a lot of money for an asset you planned to have as an asset that should give an roi over time beside the tax reductions.

And also I don't get that "but it's your mom, shame on you". It was probably her decision to have child. A child should never feel guilt for beeing raised by their parents.
I couldn't look in the mirror if my girls would feel guilty that we raised them and feel the pressure to give something back to us.
The only thing I would expect from them is to be a decent human, and trying to support people.

If they like to give something back, it's nice, but I would never demand that. I would be grateful for that.
 
And that's why I avoid business with in family if I'm not 1000% sure it won't comeback at me.
Like I would never sell a used car to family and friends.

Also I've rented from my parents before, and I treated that like any business. In the end we signed a standard rent contract.





I don't know where you guys live, but here in Germany the tax and revenue office forces you to collect a rent on a object you're not using yourself.
Forcing maybe the wrong wording, but they will take the avarage rent for that area and let you pay taxes for that.
So you can rent to your family for a lower value than the average rent prices but you're limited to around 75% of that.

Also it's not economical to pay interest rates for a loan and taxes for money you won't get.
So that's gonna be a lot of money for an asset you planned to have as an asset that should give an roi over time beside the tax reductions.

And also I don't get that "but it's your mom, shame on you". It was probably her decision to have child. A child should never feel guilt for beeing raised by their parents.
I couldn't look in the mirror if my girls would feel guilty that we raised them and feel the pressure to give something back to us.
The only thing I would expect from them is to be a decent human, and trying to support people.

If they like to give something back, it's nice, but I would never demand that. I would be grateful for that.

I know, I know. Not uncommon to charge your parents in the western world. In fact, it's perfectly fine to do that.
 
I know, I know. Not uncommon to charge your parents in the western world. In fact, it's perfectly fine to do that.

It's not just that. That's a too easy to think about that.

If you need to get rid of that asset, the next buyer would surely charge his mom.
And you don't really think she would keep the saved money all in the bank.
 
From my perspective (and this is my point of view), you should always keep business and friends and family separate, as you tend to make decisions based off of emotions rather than thinking about the long term (financial) consequences, which can lead to a huge mess.
 
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