If your son or daughter is going to be renting for a number of years it might make sense financially to invest in a buy to let property. We can help you source the ideal home for you.
Things to consider if you are intending to rent to your children and their friends:
- The size of property you want to purchase may not be the same size as your son or daughter and their friends want to rent.
- We'd highly recommend having a third party manage the property as things can get awkward when parents have to chase rent payments from friends of their child.
- Becoming a landlord brings with it a significant responsibility, not least keeping up with raft of legislation which private landlords are obliged to conform to, plus the calls in the middle of the night when a tenant locks themselves out.