Renting to friends versus renting via letting agency to strangers

Eton_Rifle

I'm on the other end of this - about to start looking for another rental house and a friend has offered me their place as they plan to move to the city for a while.

We're so tempted as it's a great house in a wonderful location but I'm anticipating that it would put a strain on our relationship so we're going to refuse.

We are good friends but I'm predicting stressful 'territorial' issues and a lack of emotional detachment.

Yorkie1

I had the opportunity to rent from a very good friend and turned it down. I didn't want it to cloud our friendship. I didn't want to have to tidy up and clean every time he came round. It was the right decision for me.

MrsAmanda_2

I've rented to friends - good friends who I'd known for a long time, and felt them to be 'safe' and trustworthy people. I'd been to two of their previous homes and knew they were neat and tidy. We had a proper tenancy agreement, did an inventory etc. But I was still nervous that it could spoil a good friendship.
Luckily, we're all reasonable people. Whenever there was an issue, they notified me and were happy to wait in for contractors on the rare occasion they were needed. Because I didn't go through an agent, and because I was certain they'd treat the flat nicely, I charged them a little less than market value.
They were saving to buy their own place and gave me notice. Before they went, they were careful to make sure the flat was as they found it.

I have since let the property via an agent and that's been ok too. The current tenant hasn't kept the garden maintained, according to the quarterly reports I get from the agent, but as long as he sorts it out before he leaves (or doesn't complain if I get someone in to do it and deduct the money from the deposit) I don't mind. His home to live in as he wishes.

Given what's been said about the friends, and the location of the landlord, I'd use an agent every time.