Children living in house! Classed as tenants?

Jowo_2

Probably the only reason we appear to be making you over egg the pudding and consider all potential risks, responsibilities and so forth and insist upon proper attention to paperwork is the number of times that we witness on this forum letting arrangements between friends and relatives that go sour.

Entering into a business/contractual relationship with someone you know carry much more risks if it goes badly (i.e. the loss of a relationship on top of the loss of possession of a property, damage and rent arrears. It's not nice when one relative has to evict another, particularly when they've bent over backwards to help them out and been exploited, but usually they've contributed to this situation by being casual and unbusinesslike in setting up the arrangement so it backfires.

But as you've said, there's no rent involved and you don't believe that you are assigning your kids tenancy rights, nor do you expect them to stop you from returning to your property (which is not the experience of all amateur landlords who let friends or relatives live in their property and then refuse to leave...).

Fire_Fox

My advice is do things by the book - ask the consent of the lender, inform your buildings and contents insurance providers, read the meters, close all energy and water accounts, get your name taken off the council tax, put the TV license in their name. As soon as you do this the occupier becomes liable for these bills so there is no comeback on you if something is not paid.

You need to inform everyone as you have a residential mortgage and residential insurance but you will not be resident! Your children were part of your household whilst they lived with you, upon moving out they ceased being part of your household. If you give a key and sole occupation of your property so someone who is not part of your household then your insurers will want to reassess the risk. The last thing you want is a burglary or accidental fire and find you are not covered. :huh:

If you take ANY money in rent you need to complete a tax return, if you take money for bills you may end up having to explain yourself to the inland revenue. If they pay rent the kids automatically become full tenants which means you need a gas safety certificate and you will not legally be able to enter to the house without an invite or written notice, so yet more reason for money not to change hands.

Owain_Moneysaver

lemonade_lifestyle wrote: »

Although i must add that our children are 22 and 25!! Yes they do have good social lives but i am sure (and most certainly not niave) that my house wont be trashed.....

It might not be by your children, but can you really be sure about all their friends?

lemonade_lifestyle

Thanks everyone for your input!!

Certainly given us food for thought....nothing is ever straight forward and uncomplicated. But never mind.

We are taking into account everything that has been said and suggested and will try to progress on following the correct channels.

Thanks again, must break out of my sheltered little world some day:rotfl: