How much 'Keep' do I charge my Siblings?

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  • ash72
    replied
    You could sneakily, tell them the rent is x amount, when they leave you hand them back (x - expenses).

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  • Mavis808
    replied
    Originally posted by theartfullodger View Post
    Common advice round here (but not always..) is never rent to relatives or friends or any combination (eg friends of relatives). You charge than whatever you like, if they ain't happy they leave or get evicted.

    If total rent in a year more than £7500 then needs declaring and tax on it paid.

    (I'm on 6 benefits).. if you are in receipt of any benefit be aware some may be impacted by renting out part of your home and the income you get thereby
    I agree completely and I would never rent a property to a friend or relative. However this was a mercy call from my siblings and they are in my own home.

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  • Mavis808
    replied
    Originally posted by DoricPixie View Post
    ash72 I was thinking the opposite. Too cheap and they’ll get too comfortable and never want to leave. Low rent for a short period whilst they save a deposit is one thing but low rent whilst they fritter money away is quite another.
    Thank You I agree completely and this is my dilemma. Too little and they will settle, who wouldn't? Too much and they wont be able to afford their own places. Maybe I'll have a 'Deadline day' talk.

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  • theartfullodger
    replied
    Common advice round here (but not always..) is never rent to relatives or friends or any combination (eg friends of relatives). You charge than whatever you like, if they ain't happy they leave or get evicted.

    If total rent in a year more than £7500 then needs declaring and tax on it paid.

    (I'm on 6 benefits).. if you are in receipt of any benefit be aware some may be impacted by renting out part of your home and the income you get thereby

    Leave a comment:


  • Mavis808
    replied
    Originally posted by Neelix View Post

    So your existing council tax , lecky , gas and water is £360 per month - are you allowing for the gas and lecky increases?
    These are the bills at present but likely to increase during winter.

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  • Neelix
    replied
    Originally posted by Mavis808 View Post

    That works out at £120 a Month Each.
    So your existing council tax , lecky , gas and water is £360 per month - are you allowing for the gas and lecky increases?

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  • jpkeates
    replied
    Either take the advice in post #4, and charge an equivalent rate, or work out how much they actually cost and charge that.

    The latter might be a useful budgeting exercise anyway.

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  • jpucng62
    replied
    Originally posted by Mavis808 View Post

    That works out at £120 a Month Each.
    Well you said you didn't want to make money from them! Presumably your bills will be higher in the winter when the heating comes back on.

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  • Mrs Mug
    replied
    Originally posted by DoricPixie View Post
    Too cheap and they’ll get too comfortable and never want to leave.
    Exactly this.

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  • DoricPixie
    replied
    ash72 I was thinking the opposite. Too cheap and they’ll get too comfortable and never want to leave. Low rent for a short period whilst they save a deposit is one thing but low rent whilst they fritter money away is quite another.

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  • ash72
    replied
    If you want them out, then don't charge too much otherwise they will never leave. Also any income you get needs to be declared, unless its under the spare rooms allowance threshold.

    I would have an open and frank talk with them, ask them how much they can afford to pay while they stay there, when they intend to be moving on, and what the barrier is for them not leaving sooner...... If you don't address it, they will become permanent residents.

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  • Mavis808
    replied
    Originally posted by jpucng62 View Post
    I would suggest you split Council Tax, Water & Utilities 3 ways. If you eat together the same with food.
    That works out at £120 a Month Each.

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  • Mavis808
    replied
    Originally posted by Mrs Mug View Post
    Find out what the rent would be for one bedroom in a local all bills included HMO, then charge them something around that.
    £300-£500 per Month

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  • Mavis808
    replied
    Originally posted by Neelix View Post
    £200 each is too low …. Are they contributing anything other than the money ?
    No, just a tad of cleaning here and there.

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  • Mrs Mug
    replied
    Find out what the rent would be for one bedroom in a local all bills included HMO, then charge them something around that.

    Leave a comment:

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