Likely it will & not just in regards to revenue / tax situation.nice for an adult child might cause more problems than it solves
Sure is she not just enjoying a stay in the family holiday home. Keep the bills in your name.We have just bought a home near the West coast, which we plan to use as a holiday / weekend retreat. Our daughter (single, no kids) lives in the general area of our new purchase. Can she live there rent-free (to allow her save her current rental money for a deposit for a house/apartment or will she have a 'revenue issue'?
The basic concern I have is that doing something nice for an adult child might cause more problems than it solves. It just seems a shame that it might be better to leave our new purchase empty when we are not there!
Any helpful advice?
Likely it will & not just in regards to revenue / tax situation.
Giving free accomodation to off-spring frequently leads to rows and disagreements over time.These vague comments contribute very little.
If you see problems for the OP, then you should specify them.
Brendan
Giving free accomodation to off-spring frequently leads to rows and disagreements over time
The daughter could be an only child from what has been posted. As Brendan has said, vague posts simply sowing fear, uncertainty, and doubt, don't really add much to the conversation.Giving free accomodation to off-spring frequently leads to rows and disagreements over time.
Then I'm into the 'landlord space' that, from past experiences, I don't want to get back into again.Can the parents just draw up a rental agreement and charge a low rent. Insert clauses about visiting etc.
And yet this non-observation does?The daughter could be an only child from what has been posted. As Brendan has said, vague posts simply sowing fear, uncertainty, and doubt, don't really add much to the conversation.
The impact of family fall-out is significant, it's not a risk to be taken lightly.Maybe it does, but the advantages of saving the rent elsewhere and looking after the property hugely outweighs that risk. And that risk can be mitigated.
The impact of family fall-out is significant, it's not a risk to be taken lightly.
What sort of problems do you have in mind?The basic concern I have is that doing something nice for an adult child might cause more problems than it solves.
I don't see any indications of poverty in this family dynamic.The impact of poverty from paying very high rent while a house remains empty is more significant.
Brendan
Can she live there rent-free (to allow her save her current rental money for a deposit for a house/apartment
What I would prefer is immaterial; it's the OPs decision to make.But you would seem to prefer that she pays rent to someone outside the family and leave a home empty to living in a home owned by her parents?
Just in case some unspecified problem might arise in the future!
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