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<blockquote data-quote="Tanya M" data-source="post: 755359" data-attributes="member: 18516"><p>We too did the same thing for our son. Bought a nice little house. The plan was that he would pay us rent and once we determined he was really stable (several years of being stable) that we would gift him the house. Sadly for us it did not work out that way. </p><p>We kept the rental house for 13 years and sold it last year. Tired of being a landlord.</p><p></p><p>I wish you all the best!! My only suggestion as others have said, make sure he signs a lease. I also purchased a book about landlord/tenant rights. Even though he's your son, you still need to know the laws and all the rules.</p><p>I truly do hope it works out for you and your son.</p></blockquote><p></p>
[QUOTE="Tanya M, post: 755359, member: 18516"] We too did the same thing for our son. Bought a nice little house. The plan was that he would pay us rent and once we determined he was really stable (several years of being stable) that we would gift him the house. Sadly for us it did not work out that way. We kept the rental house for 13 years and sold it last year. Tired of being a landlord. I wish you all the best!! My only suggestion as others have said, make sure he signs a lease. I also purchased a book about landlord/tenant rights. Even though he's your son, you still need to know the laws and all the rules. I truly do hope it works out for you and your son. [/QUOTE]
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