Mortgage free, should I charge my partner rent?

Fatolddog

Greetings,

I'm thinking of asking my partner to move in with me within the next 6 months and I currently own a 4 bedroom property mortgage free.

Naturally we would split the household bills but would it be appropriate to charge her rent? I was also curious on the legal implications regarding her right to the property as with the best intentions in the world I want to protect my assets. If she paid rent would she be entitled to a share of the house?

Regards,

Fatolddog

DaftyDuck

You charge her rent, she'll start charging next...

Sure, you share the bills. Split various ways depending on income, benefit to each, whatever. But there isn't a bill here. All you'd be doing is profiting from the relationship, and stashing cash in the bank. No way would I even consider demanding rent from a partner under these circumstances.

Darksparkle

I understand splitting household bills but personally I would not move in with a partner who charged me rent.

They're your partner, not your lodger.

matchboxfull

Nice to know romance isn't dead...

Pixie5740

No it wouldn't be appropriate. She's your partner not your lodger.

elverson

I can't see why you would charge her if you've paid off the mortgage. You wouldn't be putting your house 'at risk'.

Get a joint account, pay into it according to your agreed split and pay bills from there.

HouseBuyer77

I've spent some time thinking about this myself (though in my case I'm mortgaged). I've decided the only sensible thing to do is split the bills then either:

1. Do not ask for contribution to mortgage/upkeep/whatever
2. Agree to share the house with them 50/50, get a solicitor in to ensure paperwork is sorted out correctly. At this point you split all house related expenses 50/50

The aim being that you'll eventually end up in phase 2. Whilst in phase 1 your partner should be able to save a decent stack of cash. Should you progress to phase 2 your partner will have a lump sum that could go towards a larger house, paying down the mortgage (not relevant in your case), new kitchen/bathroom/car/extension/etc

If you break up then your partner has a nice sum of savings so they can go their own way with a minimum of fuss. Perhaps you'd see it as unfair that they end up with a lump sum, but I'd say it's unfair that they contribute towards your mortgage/upkeep for some number of years and then see nothing for it. Had they not moved in you'd have been dealing with that anyway.

Guest101

There's no tax implications and she would not gain an interest in your property.


She may lose interest in you however....

HappyMJ

Fatolddog wrote: »

Greetings,

I'm thinking of asking my partner to move in with me within the next 6 months and I currently own a 4 bedroom property mortgage free.

Naturally we would split the household bills but would it be appropriate to charge her rent? I was also curious on the legal implications regarding her right to the property as with the best intentions in the world I want to protect my assets. If she paid rent would she be entitled to a share of the house?

Regards,

Fatolddog

If you marry her she's entitled to half the house....so how about letting out the property and you and her move into a rental property of your own. If the relationship fails either one of you can hand in notice to end the tenancy and you can move back into your own house and she moves on.

You would have lettings income of your own which you can keep in full and you would have a rent expense which you can split with your proposed partner.

The place that you rent would then be yours to share and she would feel it's more her house too as you started a new life in it together. The place that you own would be yours to keep for yourself. If she moves in it will always be "your" house and she will feel like she can't do anything to it as it's yours.

You could also sell it and buy a new one together with a 75% mortgage that you can share. Any cash left over you can invest for your own personal income.

Jhoney_2

Perhap sell up and start together anew in a 50/50 purchase?

Guest101

HappyMJ wrote: »

If you marry her she's entitled to half the house....so how about letting out the property and you and her move into a rental property of your own. If the relationship fails either one of you can hand in notice to end the tenancy and you can move back into your own house and she moves on.

You would have lettings income of your own which you can keep in full and you would have a rent expense which you can split with your proposed partner.

The place that you rent would then be yours to share and she would feel it's more her house too as you started a new life in it together. The place that you own would be yours to keep for yourself. If she moves in it will always be "your" house and she will feel like she can't do anything to it as it's yours.

You could also sell it and buy a new one together with a 75% mortgage that you can share. Any cash left over you can invest for your own personal income.

If they marry she's entitled to half regardless of where they live...