Money Moral Dilemma: Should I rent out my house if it means my daughter has to stay elsewhere?

hairywalrus

Where are people getting the idea it's a difference of £950pm?  The running costs of £300pm don't magically disappear so that's a sunk cost.  The difference is £650pm  (subject to tax and other on-costs as mentioned elsewhere).

yvonne101_2

If it was me - I would rent out one bedroom in my house to a 'lodger' not a 'tenant' making it much easier to deal with any issues re rent etc.  Leave the second bedroom for the daughter to use when she needs it.  You will also have a bedroom you can use when you fall out with your partner :-)

suecoo66

What will you do when she finishes uni? 

maisie_cat

yvonne101_2 said:

If it was me - I would rent out one bedroom in my house to a 'lodger' not a 'tenant' making it much easier to deal with any issues re rent etc.  Leave the second bedroom for the daughter to use when she needs it.  You will also have a bedroom you can use when you fall out with your partner :-)

The OP does not live there, I believe a lodger arrangement is with a live in landlord

ldwilkinson777

I believe it’s best to give your daughter a safe place to come home to. A hotel isn’t home 

lil_homer

When I went to uni I lived there full time. She’s an adult now and can’t expect you to keep a house going for her to stay at a couple of months a year. Why would it be your responsibility to put her up in a hotel? If she’s like most uni students, when she comes home she won’t spend the whole time there anyway as she’ll be off visiting friends or may even decide to stay where she is. Talk to her and decide together. I’m sure she wouldn’t want her mum to be so out of pocket to accommodate her for such a short time which might make her feel uncomfortable and obligated not to do what she wants during the summer!

leighpilot

Easy solution.  

Look at the fact . It costs you £300 a month to keep , and you’re losing £850 a month in rental. The property is convenient to Uni , that’s why your daughter is staying there.  

So rent out spare rooms to other Uni students and have daughter manage the property for you. She collects rents , arranges repairs and maintenance.  

Now you have a business property so all expenses are tax deductible, you’re maximising the use of the property and your daughter is getting valuable life lessons in business , responsibility and dependability.

it’s a win all round. You get income , your daughter earns a place to stay . She’s over 18 and you have no obligation to feed , clothe or house her so let her contribute to her support by running the property as the manager. 

meknowalot-51

Firstly,it's not your daughters house,it's yours and you should leave things as they are.Your staying with your "boyfriend" which could end anytime,then where would you stay if the house is rented?When she comes home from uni. you tell her to contribute to the costs and upkeep.Keeping your house available will help your relationship as you can always stay there if and when you need a breather,keep all your options open.Plus when she's home you could stay with her for a few days or longer to have some bonding time,win win all round.

Hobgoblin_2

Don’t forget that you have independence by having your own place.
how secure is the relationship with the boyfriend and is it in any way dependent on this independence of fact and perception.
if the relationship doesn’t last , you are homeless and so perhaps? your daughter.
good luck.

squirrel59

gothvixen said:

It depends whether you want a relationship with your daughter or not. A fair amount of the money you could make would be spent on the hotel bills, and you would have all the responsibility for repairs, which could be substantial depending on the tenants. More importantly, your daughter would receive the message that you value a few hundred pounds more than you do her. Nothing says you don't care quite like renting out her home and dumping her in a cheap hotel for a few months each year. For the sake of the duration of her studies you would create a rift that might never be repaired. I love my children so it would never occur to me to put a small profit before them.

It's pretty obvious she loves her daughter too, hence her taking the trouble to discuss the thoughts she has.