Renting From Employer


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I am soon to be faced with the prospect of paying rent to my employer. I think the idea makes me uncomfortable. It has too much of a 16 Tons feel to it: "Tell saint peter that I can't go. I owe my soul to the company store."

I have been renting from his father for the past three years and now his son, my boss, is looking to buy the property. My boss has told me he plans to raise rents across the board when he owns the property. To me, this feels like a pay cut.

The rent is a bit below market, I'll freely admit that; and, it hasn't increased the entire time I've lived here. That said, my pay has been the same for the past three years and will likely decrease this year (without a jump in the rent.)

Anyone got any advise? I'd love to hear it.