Living together

[David Birtwistle]

Hi, I’m new here so bear with me if this has been asked before.
My wife’s sister is in the process of moving in with one of her friends. This friend is buying a house and my sister in law is renting a room with all bills included. Odd thing is, she’s got to go and see the solicitor to sign something next week and she’s given her friends her income details months ago. I’d there any reason she would need to see the solicitor as she’s not being part of the mortgage.

 

[PostBrexitInvestor]

A tenancy agreement perhaps? It protects both parties.

 

[lookinginvest]

Your sister is better off having a legal agreement so she has a level of protection and cannot be turfed out at a moments notice.

 

[diyhelp]

They say that business and pleasure do not mix - they are right. Many friendships have found themselves on the rocks because of this. Get everything down on paper and official and then everyone knows where they stand.

 

[Longterminvestor]

Friends, family and work colleagues do not make good landlords for each other! If you have to, keep it all legal and above board with proper agreements. Landlords and tenants have rights!

 

[PostBrexitInvestor]

I am not sure you can have private rental agreements now can you?

 

[Conrad Paton]

Hi

To answer the OPs question.

No, there is no NEED for your Wife's sister to visit a solicitor to sign anything.

If it is a rental agreement, that can ge signed anywhere.

Even legal deeds that need witnessing can be done remotely from a solicitor, so long as a witness is present.

Hope this helps

Conrad Paton

 

[PostBrexitInvestor]

What do you think about mixing business and friendship Conrad? Any drawbacks in your experience?

 

[Conrad Paton]

We are going of thread again..

But then, quick answer is....

If your are serious about business, is your friend equally serious?

Personally I've had zero success in going into business with friends.
Dont get me wrong, some of the people I have and still do business with.....have turned into very good friends because of the business

So it can work...just the other way round I guess.

Conrad Paton

 

[jonathan004]

Your sister is better off having a legal agreement so she has a level of protection.

I agree and make sure

 

[lookinginvest]

I have seen people take friends as tenants and it all goes very wrong very quickly! Late with rent, not respecting property and difficulty living together are just some of the issues that can arise! The smallest disagreement can very quickly grow arms and legs!