Renting Flat to Daughter

charlotte1994

As people have said, rent it to your daughter for a reduced rate, don't put the boyfriend on it (just in case). My MIL and MIL rented out a flat to their daughter, it all went ok! She moved out and got a place with her new fella and they have a joined rented house now, so my in-laws sold the flat. You are very kind to be doing this for your daughter, but for ease I would still write out a full tenancy agreement (just a basic one). But I would 100% just put your daughter's name on it.

Rosa_Klebb

Thanks for the replies, the plan is to keep the flat for 2-3 x years in case things don't work out with my partner I'll be buying with - no reason why they wouldn't, just think it's a nice insurance to have in place. We will sell it in good time before the 3 year threshold to recoup the stamp duty.

If I do rent it would be in my daughters name only, she's absolutely good as gold and could trust her 100%. Would rather this than rent privately seeing how our next door neighbors have just been shafted by a tenant who left owing them 6 months rent, and the flat was a state when he left. Moved abroad with very little chance of tracking him down. A well paid doctor too - you wouldn't think!

So is it correct that if I just let her live there, not as a tenant but just as a favour, without paying rent or without a formal contract in place that this would entail no LL responsibilities?

need_an_answer

Rosa_Klebb wrote: »

So is it correct that if I just let her live there, not as a tenant but just as a favour, without paying rent or without a formal contract in place that this would entail no LL responsibilities?

so this is your preferred option?

Hasbeen

need_an_answer wrote: »

She does mention a lower rent however any rent will still attract the need to comply with regulations so whilst you will charge a lower amount the need to protect a deposit,comply with certifications and maintenance issues will still apply. A gas safety certificate costs the same for example if you charge £100 rent or £500 rent...its still a requirement
.

Even if no rent was charged th Op would still have to adhere to all statutory requirements. Still a landlord.

Rosa_Klebb

need_an_answer wrote: »

so this is your preferred option?

I think so, but if it's the same hassle as to rent officially then may as well charge her a token rent to cover costs. That way she will not feel like she is freeloading, which I know will be her concern.

Slithery

Hasbeen wrote: »

Even if no rent was charged th Op would still have to adhere to all statutory requirements. Still a landlord.

Could you explain this? Letting a family member live in your house for no consideration doesn't make you a landlord.

need_an_answer

Hasbeen wrote: »

Even if no rent was charged th Op would still have to adhere to all statutory requirements. Still a landlord.

I'm happy to be corrected but I'm with slithery on this on...no rent and you are not a LL


I can see pitfalls for the OP in charging no rent and just allowing her daughter and BF to live there....

The responsibility of upkeep still remains with the OP and she herself has said she wants to keep the flat in the unlikely event her own relationship fails as a safety net.


If that were to be the case the 2 bed small apartment suddenly starts to get a little crowded......

Hasbeen

need_an_answer wrote: »

I'm happy to be corrected but I'm with slithery on this on...no rent and you are not a LL


I can see pitfalls for the OP in charging no rent and just allowing her daughter and BF to live there....

The responsibility of upkeep still remains with the OP and she herself has said she wants to keep the flat in the unlikely event her own relationship fails as a safety net.


If that were to be the case the 2 bed small apartment suddenly starts to get a little


https://www.thisismoney.co.uk/money/buytolet/article-4487684/Can-let-property-family-member-no-rent.html

need_an_answer

Thank you hasbeen...alhough the article you have quoted still suggests a "letting" of the property rather than an allowing a family member to live there.


Perhaps its the terminology between "can I let my property to a family member" as opposed to "I will allow my family member to live there"
that is the issue.

Clearly its beneficial to do things the official route,which I would always suggest,but I am still of the opinion that if both parties are in total agreement to just allow occupation it makes neither of them a LL/tenant


using your logic and the quoted article can I then pose the question..

At what point do I need to enter into a tenant/LL agreement with my non dependant offspring who has moved back to a family property that up to the age of 18 they would have been able to occupy as a dependant minor FOC?

Rosa_Klebb

need_an_answer wrote: »

Thank you hasbeen...alhough the article you have quoted still suggests a "letting" of the property rather than an allowing a family member to live there.

Perhaps its the terminology between "can I let my property to a family member" as opposed to "I will allow my family member to live there"
that is the issue.

Clearly its beneficial to do things the official route,which I would always suggest,but I am still of the opinion that if both parties are in total agreement to just allow occupation it makes neither of them a LL/tenant

Okay great, I think this is my preference. If I just let her live there, no contract, no payment (she pays for her electricity, water, council tax etc though) then it's as simple as that? No need to declare anything or notify anyone? No legal responsibilities to undertake?