Will be renting to our daughter.
I'm a new member, and this is my first post.
We bought and are rehabbing a small house down the street. We will be renting to our daughter as soon as it is complete. I know from experience that working with family can be tricky. I'm looking for advice of what we should put in place in the contract etc. for the best results. The decision to rent to her has been decided, we just want to protect all interests. Thanks :)
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You can put everything you want in place. If you don't enforce it, it is worthless. Are you ready to evict your daughter when she doesn't pay rent? If you aren't willing to do that, then don't rent to her. You have a very good chance of ruining your relationship with your daughter by evicting her or you getting mad because she doesn't pay rent. Hopefully it won't come to this.