Renting

[Ladybowler]

Hi I am a newbie here and looking for a bit of advice. I have recently moved to another part of the Country and would like to know if it is OK to rent the family home to my son. have looked on numerous web sites but could not find a definate answer on this. I completed the online forms with regards to registering with my Local Authority. Thanks for any help.

[fionaf]

'It depends' is the answer. Generally you can rent to whom you choose including a family member. Things to consider are:

1) there may be less favourable tax implications which I don't know enough about but someone else on the Forum may be able to explain, issues they look for are if you are renting at less/more than the market rate, retaining a beneficial interest (e.g. right to stay there on holidays) etc.

2) if the family member is on benefits the local authority may have various declarations required or they may not allow it.

3) what happens if you fall out with that family member

All the best

Fiona

[Melboy]

I didn't think you could pass a Local Authority property to a family member? ..... unless it has prior approval from the LA.

Mel.

[Ladybowler]

I didn't think you could pass a Local Authority property to a family member? ..... unless it has prior approval from the LA.

Mel.

The family home is a privately bought property not Local Authority.

[Melboy]

The family home is a privately bought property not Local Authority.

In that case you can rent to whoever you want to.......and why do you need to register this action with your Local Authority?

Mel.