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Just a curious answers

Hello my name is Lindsay and I am divorced and I am 60 yrs old
I have 2 adults kids and they work full time and make a decent living but one of them cannot afford to buy a home yet….but they are saving some money to eventually buy it.

Since I am financially well ( Thank God)
I have a house that is vacant and would like one of my adult kids to live there because where they live now is kind of small to live with their 3 years old child (my first grandson ❤️) needs a backyard so they do not have to be stuck home because of the COVID-19

I want them to live rent free on the vacant house I have but some of my friends is telling me not to let them live rent free
And I told my friends that I would do anything to my kids
They are my life the day I conceived until I am gone …
Because they are good respectful human being , they never been in trouble , do not drink or smoke, hard worker and I know they will do the same to me if I needed any kind of help
I am proud of them of what they become 😃

My question is
Would any Mothers out there that is financially well would charge rent to your own kids?
Why not see them enjoying what I am giving them,it makes me happy
( My ex would never agree ) we were never on the same page that’s one of the reasons I divorce him along with other stuff that was going on with my marriage to him
He always have something bad to talk about our kids
Sad ( he has lost his whole family) I could not handle him anymore
He was not Thankful of what he had
He was not a “happy camper “

Thanks in advance

Re: Just a curious answers

Hi,

In your situation, I would probably offer the property as a rental to them, but for a ‘peppercorn rent.’ It could even be $10 per month! Whatever you decide…but the point being-that they have a home on an ongoing basis, but should there ever be a need to ‘get them out,’ then tenancy laws might protect you legally as a landlady. Allowing them to live rent-free is generous, but also opens up other issues.

Also-if the property is a rental property-have you checked if capital gains tax might be payable if you ever decide to sell the home?

How do you think your other child is going to react to their sibling being given a virtually rent-free ‘gift?’ Will this cause jealousy?

I’d give them a helping hand, but as paying (low cost) tenants, to at least cover the cost of house/buildings insurance and so as not to make your other child potentially jealous of their sibling being seen to be afforded free ‘favouritism ’ …🙏

Re: Just a curious answers

Hello Kaz
Thank you for replying
(There is no mortgage in the house )
I am absolutely 100% sure that the other sibling will not get jealous he will be happy if my daughter could have a house with the backyard just the way he have too...
There will not be any conflicts what so ever
Guaranteed
But as a mother I will feel kind of uncomfortable taking rent money from my own kids ....
I do not want them to struggle
I will feel Happy if I just let them live rent free until they find a home they can afford

Re: Just a curious answers

If you are able to allow them to live there rent free, you are sure it won't cause trouble with your other child and it gives you pleasure to do it - then do it.

You could charge them a nominal rent, then put it aside for them to use later. You could use that small amount for home repairs, property taxes, etc. Or let them live there free, but ask them to pay towards any home expenses (repairs, maintenance.)

But, it's your house, you can do what you want!

It sounds like you are a very caring mother, good for you!
Kelly