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Renting Parents Elderly Property - Legal Position?
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Two questions. Firstly how would you plan to make up the shortfall (because the rental yield won’t come close to covering the fees) and secondly how will you cover the fees if you get a tenant who stops paying the rent? You can of course evict but it’ll take a while.0
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Hi...we don't need to make up a shortfall, there is sufficient liquid assets for a number of years, hence the consideration around the option for renting it out a while.
I'm sure we could achieve a net yield greater than savings accounts BUT that is not the primary consideration, certainly from my perspective. For me it was a question around can we do it, can we do it with sufficient mitigation to risk (all the obvious comments people have made on the subject).Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Let's say she dies next week.cloud_dog said:Hi...we don't need to make up a shortfall, there is sufficient liquid assets for a number of years, hence the consideration around the option for renting it out a while.
What will you do with the house? Sell it and distribute the value? Or does somebody actively want it?0 -
That is a possibility but not something that is driving the thought processes as a consideration TBH.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
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