We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Renting to an immediate family member - social payments
sardegnadream
Posts: 24 Forumite
Hi Everyone
I'm not sure if this is right place to post this but I'm looking for some advice. Approximately 8yrs ago I took out a mortgage for a house so that my mum would have somewhere to live and it would be an investment for myself. My father had passed away 10 years prior to this after his business had failed and the family home had several charges against it. Out of the blue a solicitor contacted her and requested that the debts be settled. In the end she sold the house to cover the debt and had a little left over. I bought a house and she moved in with the local council covering the mortgage. I used an estate agent to act as a management company to handle the payments, my name and address is on the tenancy agreement which shows the same surname as my mum.
I haven't increased the rent at all in the last 8yrs and have no real intention to do this but I would like to stop using the management company as there is a shortfall between the rent and the mortgage. I'm in a position now where it looks like the company I work for is about to fold and I would not like to have to meet the difference.
My question is: am I legally entitled to rent a property out to the family member if its cover by social security payments? I'm a little reticent to contact the DSS if this is not permitted.
Any comments would be appreciated.
Thanks
A
I'm not sure if this is right place to post this but I'm looking for some advice. Approximately 8yrs ago I took out a mortgage for a house so that my mum would have somewhere to live and it would be an investment for myself. My father had passed away 10 years prior to this after his business had failed and the family home had several charges against it. Out of the blue a solicitor contacted her and requested that the debts be settled. In the end she sold the house to cover the debt and had a little left over. I bought a house and she moved in with the local council covering the mortgage. I used an estate agent to act as a management company to handle the payments, my name and address is on the tenancy agreement which shows the same surname as my mum.
I haven't increased the rent at all in the last 8yrs and have no real intention to do this but I would like to stop using the management company as there is a shortfall between the rent and the mortgage. I'm in a position now where it looks like the company I work for is about to fold and I would not like to have to meet the difference.
My question is: am I legally entitled to rent a property out to the family member if its cover by social security payments? I'm a little reticent to contact the DSS if this is not permitted.
Any comments would be appreciated.
Thanks
A
0
Comments
-
Hi
Just wondering if anyone had any advice?
Thanks
A0 -
You can rent to a relative, but their are certain rules that apply, they have to have certain assurances from you.
You will have to contact the local authority.Well life is harsh, hug me don't reject me.0 -
Thanks for both replies, I'll have a word with them and see if its possible
Cheers
A0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards