With apartment and home rental prices rising, it can be difficult for renters to find a place to call home. Conversely, for landlords who own multiple properties and are waiting for the ideal renting or buying candidate to come along, the time spent on property upkeep can add up quickly. Luckily, there is a trend starting to catch on in certain niches that solves both problems.
A home caretaker, or property caretaker, is someone who will stay at a property for minimal rent and, in turn, will take care of the upkeep on the property.
For the property owner, this solves several problems: the property is not just sitting vacant, the upkeep is handled by someone else, and the property is always ready to be shown to potential renters or buyers.
For the caretaker, the rent is much lower than it would otherwise normally be in turn for the person assuming the task of property upkeep, and, in some (but not all) cases, furniture is already present as part of the property.
So what's the downside?
For the property owner, the steep discount in rent afforded to property caretakers means that, while you'll be saving sweat equity, you won't be earning a profit.
For the caretaker, the property has to be kept in a state of readiness for the owner to be able to show to potential renters or buyers, meaning that the caretaker also has to be able to leave the property for a showing on short notice. Also, once the property owner finds someone, the caretaker needs to be ready to vacate and move on to the next property.
For those interested, there are caretaker organizations and newsletters to help you get started.