Would you rent off family?

[ButterPie]

My uncle has a couple of buy to lets and is looking at buying more. He buys them, my Dad (who is a builder) does them up, then my uncle rents them through a letting agency.

I'm considering asking him to buy a house in my home town (I live near DP's parents, my uncles properties are in my parents town, where he grew up but doesn't actually live) for me to rent off him (at market value) as I am so sick of having to chase up EVERYTHING with my letting agent, as well as having little security and not being able to, for example, decorate.

We are pretty poor, but have never even been late with the rent as it is our priority. There are loads of houses for sale on my street even in the same price bracket as he is looking at. We would quite happily pay full price, so he would still make his investment money.

BUT- could it be awkward to rent within the family? Does anyone have any opinions?

i would do it if you have a good trusting relationship. it could work out well for all concerned. no finders fees, credit checks etc to do.

i would still do it all formally/legally though, with a full contract to protect both sides, inventory, deposit and all.

hth

some buy to let mortgages wont allow rental to "family" - check is ok and their definition of family members.

We rent from my uncle who has a portfolio of properties. Great advantage to have a house we can treat as our own, but rented. We have a slightly informal agreement. We have a tenancy agreement which stipulates various restrictions, but in practice we do what we want to (as long as it improves the property) and we meet the cost, but pay slightly under market rent.