Renting Flat to Daughter

need_an_answer

OP … another possible consideration must at some point be the effect of the B word.

If things go as some predict and property prices fall by a % over the next year,you will need to consider how that may impact you with an already enforced time frame of needing to sell the property within 3 years of your new purchase.


a large % drop in value isn't likely to be regained within a 3 year timeframe,its more of a slow burner over many years

not really linked in anyway to you allowing your daughter to live in the property,but perhaps another vote for selling sooner rather than later

Slithery

Rosa_Klebb wrote: »

If I'm going to go through the hassle of proper LL stuff though then I may as well just let it out to someone at full market value. Not sure it would be even worth it for a period of just 2 years.

I agree it's probably not worth it. What happens when your tenant doesn't wish to leave and the deadline for reclaiming your stamp duty is fast approaching? You do know that you can't just throw them out?

I see no-one's linked to it yet so I'll add the usual advice - Make sure you read all of this thread and all of the links that it contains before even contemplating becoming a landlord to anyone.

Tenancies in Eng/Wales: Guides for landlords and tenants

[Deleted User]

I did this a few years ago. My husband and I moved to his house when we got married as it was nearer to my mum who had just been widowed. At the time though, we didn't know if it would be a permanent move so I asked my daughter and her fianc! if they wanted to stay in my house for a couple of years so they could save the rent they were paying elsewhere. They jumped at the chance. It was her family home and she'd only moved out a couple of years earlier so as far as I was concerned it was no different from her moving back home.

They paid the bills and we had somewhere to stay when we came back for social events or to visit friends. I was able to leave some of my clothes etc at the house. After 2.5 years they were able to buy their own place and move out. My mum had died by then so my husband and I decided to move back to my house as it was bigger than his and all our friends etc were still here.

In my opinion, it was no different from having your adult children living at home contributing to the household bills. If there was any work that needed to be done on the house, we paid for it. They did some redecorating but that's all. It didn't constitute a tenancy