Renting to my girlfriend

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    Renting to my girlfriend

    I co-own a house with my friend, he is moving out and I am moving my girlfriend in. How do we organise the rent? does she pay full rent to me and him? or part rent to me and him or just part rent to just him?

    Any advice would be appreciated.

    #2
    I would have thought this is something you just have to agree on between you, rather than there being a hard-and-fast rule to apply.

    I don't know whether it makes any legal difference that the new person moving in is your girlfriend rather than an uninvolved third party? but I expect it makes the situation more complicated.

    How does the amount of rent she'll pay compare with the mortgage payments made by the departing co-owner? I think if I was him I would at least be expecting my mortage payment to be covered (otherwise why wouldn't I want to just sell up?) and if that wasn't the case, I (again in his shoes) certainly wouldn't be expecting you to be seeing any financial gain from the arrangement.

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      #3
      Thanks for your reply it is very much appreciated.

      It is his choice that he is moving out, I am happy to carry on as is. At the moment the re-payments would cover his half of the mortgage. It just feels like I will be living here paying the mortgage while he lives somewhere else nt paying anything towards it and then when we come to sell it he benefits from any profit made....thoughts?

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        #4
        Originally posted by neastham View Post
        Thanks for your reply it is very much appreciated.

        It is his choice that he is moving out, I am happy to carry on as is. At the moment the re-payments would cover his half of the mortgage. It just feels like I will be living here paying the mortgage while he lives somewhere else nt paying anything towards it and then when we come to sell it he benefits from any profit made....thoughts?
        Charge your girlfriend rent equivalent to his share of the mortgage. If that is unrealistic for the accommodation she will be getting, then he will have to make up the shortfall. You seem to be forgetting that you are (presumably) benefitting by his moving out in that you can now live with your girlfriend. Your friend will remain joint LL and will have to contribute towards maintenance, etc.

        If he refuses to meet his commitments,or if this arrangement makes you unhappy, you and your mortgage partner will have to agree to sell up and share any profit.
        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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          #5
          Why can't girlfriend buy-out co-owner (so property would be transferred by you + him to you + her, subject to continuing mortgage)?
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

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            #6
            Originally posted by neastham View Post
            Thanks for your reply it is very much appreciated.

            It is his choice that he is moving out, I am happy to carry on as is. At the moment the re-payments would cover his half of the mortgage. It just feels like I will be living here paying the mortgage while he lives somewhere else not paying anything towards it and then when we come to sell it he benefits from any profit made....thoughts?
            You are paying half the mortgage but you are also benefitting by living there.

            Imagine a scenario in which the property was exactly divided into two with you in one half and your girlfriend living in the other. You'd surely agree it's perfectly fair for you to pay the mortgage for your half (because you live there), and for your girlfriend to pay rent to the co-owner in exchange for the benefit of living in the other half (i.e. exactly what happens when a landlord rents to a tenant). It wouldn't be fair if your girlfriend lived in her half for free, would it?

            It's exactly the same principle except there's no neat dividing line between the two halves of the property. Your friend is fully entitled to 50% of any growth in the capital value, just as a landlord is.

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              #7
              Your friend is providing capital and taking the risk; your g/f is doing neither.

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