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Updated almost 4 years ago on . Most recent reply

Uneeq Khan's profile image
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Uneeq Khan
  • from Bound Brook, NJ
  • Member since Aug 27, 2018
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Uneeq Khan's profile image
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Uneeq Khan
  • from Bound Brook, NJ
  • Member since Aug 27, 2018
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Uneeq Khan
  • Bound Brook, NJ
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General Landlording & Rental Properties

Renting to family, any benefits?

Uneeq Khan
  • Bound Brook, NJ
Posted

Just curious to know what benefits there would be to get a property and then "rent" (or actually rent) it out to your parents/siblings/etc? Any tax benefits? Is it even legal? What would make it illegal?  Thanks. 

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Nathan Gesner
  • #2 All Forums Contributor
  • Real Estate Broker
  • from Cody, WY
  • Member since Apr 27, 2010
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Nathan Gesner's profile image
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Nathan Gesner
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  • from Cody, WY
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Nathan Gesner
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  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Yes, it's legal. No, I don't recommend it. I have a policy that I will not rent to family, employees, or family of employees. There's a high likelihood they will take advantage of our relationship if push comes to shove.

  • Nathan Gesner
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