I'm retired and recently moved into a rental property. I'm looking to let out my owned property to my daughter and her young family. I receive a private and state pension, will this affect this? We have agreed on a monthly rent that covers all my outgoings (rent, council tax and heating bills) no more no less.
My mortgage is paid off. How would this work? We will have an official rental agreement and documentation but I'm unsure about tax and whether this will affect my pension?