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should i rent out the property i'm buying to old owners?

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  • should i rent out the property i'm buying to old owners?

    hi. about to buy a property and owners becoming friends. we can't move in for half a year or so, and they have asked whether they could rent it from us for that period while they keep their kids in school and look for a new place (cash rich)? seems perfect for both of us.. they keep all their furniture, there's no empty period and we have the funds from the rent to pay our present and future rental costs until our contract runs out.
    but.

    1.our mortgage broker has said we will have great problems getting a mortgage seller that will let us rent it without it being a buy to let mortgage and this is much more expensive.

    so. 2. for the sale to go through i'm presuming they would need to sign 'vacant possession' , and then 'move in the next day'... is this madness?

    and

    3. if i haven't signed anything with the estate agents lettings department , just because they introduced the seller to me, does that mean i can't rent it out to them privately after the sale and we have to use that estate agent,?

    in ignorance , confusion and hope....

  • #2
    Re: should i rent out the property i'm buying to old owners?

    You can ask them directly if they are willing to be your tenants then what is the issue in that sign an agreement with them and welcome them.

    Regards,
    Jhonny

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    • #3
      Re: should i rent out the property i'm buying to old owners?

      no,You should never rent you propety,to the old owners.

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      • #4
        Re: should i rent out the property i'm buying to old owners?

        Have you made a decision on this?
        http://www.buytoletlandlordsolutions...buy-properties

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        • #5
          Re: should i rent out the property i'm buying to old owners?

          If the old tenants were nice then there should be no issue to get them back

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