Living in country - caretaker?

[Lisa R.]

We are looking at a some property in the country with 13 acres. There is a family house on the property along with a large chicken coop, two-horse stall shelter and a very small house. Currently the owners have two horses, a pig, several chickens, a peacock, and some geese. 

We are trying to mitigate the expenses and/or time for the property's upkeep. We do not intend to have animals other than our small dog.

We are wondering about the possibility of having a caretaker live in the small house rent-free in exchange for helping with the property. However, when we saw the house, it is very cute but very small--possibly 600 square feet with a small kitchenette. There is an upstairs with a very steep stairway. Outside in a small separate area is storage with washer/dryer and sink. This person could utilize the chicken coop, too. 

This property is in a town of 10,000 and the relator said there is a shortage of rental property.  

Also, I saw that to rent space for horses is $200/month for self-care and $300/month for full care. We could rent out the two stalls for self-care, which would net $400/month. 

Any ideas on how to make this work?

[Lisa R.]

17 minutes ago, Thatboyofmine said:

Are you asking how to bring in money each month to pay for the mortgage or make a profit or something like that?  Does the small house have a bathroom?    Regarding the steep steps, will your home insurance cover it if the caretaker falls down the steps?     The chicken coop won't be used at all?   

We are not trying to bring in enough money to cover mortgage. The idea is to have someone to be a low-cost or no-cost caretaker in exchange for free rent. 

The small house has a bathroom upstairs with a shower. I would assume insurance would cover any injuries on the property.

We would not have chickens, personally. However, I'd love to see the chicken coop used. 

[Ottakee]

My friend has a single college girl living in her small rental and the girl does most of the chores.

 

[katilac]

The words "very steep stairway" make me think that it might not meet code, which means you might not be able to rent it (or would be at greater liability in doing so). That's the very first thing I'd check out. 

[Ausmumof3]

I think it’s definitely possible but you need to think about whether you need landlords insurance and you need to be picky about the person because you will be living at quite close quarters to them.  I wonder if it’s worth talking to a property agent or similar first to make sure all the scenarios are thought out.

[Selkie]

Horses cause a lot of wear and tear to property. There will be repairs and upkeep for the fencing and stable, plus the pastures will need maintaining. You will also need additional insurance. $400/month may not be worth it when you add up all those costs. It can also be very tricky finding good boarders who will pay their bill every month and not cause unnecessary drama (horse barns are notorious for lots and lots of drama 😉).  

[Lisa R.]

19 minutes ago, Selkie said:

Horses cause a lot of wear and tear to property. There will be repairs and upkeep for the fencing and stable, plus the pastures will need maintaining. You will also need additional insurance. $400/month may not be worth it when you add up all those costs. It can also be very tricky finding good boarders who will pay their bill every month and not cause unnecessary drama (horse barns are notorious for lots and lots of drama 😉).  

Good to know. Thank you. 

[Carrie12345]

I would not rent horse space, even self-care, unless I were already REALLY good and experienced with horses.  Like any other animal, horses can have unscheduled needs/emergencies and, my responsibility or not, I’d feel obligated to step in as necessary. And I’m just not horsey enough for that to be part of my life.

It’s like, when I see a loose dog, I step in because, yk, a loose dog! But it messes with my whole day a couple times a year. I don’t want to wake up every day feeling the need to check for loose dogs.

[KungFuPanda]

I would completely divorce the cottage rental from the caretaking job.  It's way too open ended.  I'd rent the cabin and hire a caretaker separately.  I can see both parties in that situation feeling like the other is "taking advantage."  You'd need a VERY detailed contract to make that work.  Nobody can afford to work full time to pay just their rent . . . they still have other bills.  If the homeowner's expectations are open ended (Take care of everything and we'll keep adding to that list as we find stuff) it would not be a good situation.  I think it could work out if you have very clearly defined tasks/hours of work, but you won't know what those needs are until you live there for a while.  Manual labor is very expensive and the house is tiny.  On the surface it seems like a much better deal for the homeowner than the caretaker.

[Lisa R.]

2 hours ago, KungFuPanda said:

I would completely divorce the cottage rental from the caretaking job.  It's way too open ended.  I'd rent the cabin and hire a caretaker separately.  I can see both parties in that situation feeling like the other is "taking advantage."  You'd need a VERY detailed contract to make that work.  Nobody can afford to work full time to pay just their rent . . . they still have other bills.  If the homeowner's expectations are open ended (Take care of everything and we'll keep adding to that list as we find stuff) it would not be a good situation.  I think it could work out if you have very clearly defined tasks/hours of work, but you won't know what those needs are until you live there for a while.  Manual labor is very expensive and the house is tiny.  On the surface it seems like a much better deal for the homeowner than the caretaker.

You know, that is a really good point. I like the idea of keeping this separate. I am wondering if the rental income could be put toward a part time caretaker position. 

[Sdel]

34 minutes ago, Lisa R. said:

You know, that is a really good point. I like the idea of keeping this separate. I am wondering if the rental income could be put toward a part time caretaker position. 

You could include the barn/pasture as part of the rental instead of as separate boarding.  That is a big thing where I am...duplexes with a couple of acres and 2 stalls.

 

Alternatively, lease out the 13 ac/barn for cattle and see about an agricultural tax exemption.  Our cattle lease has the pasture and fence maintenance as tenant’s responsibility.

Edited March 7, 2021 by Sdel