Is renting a home to siblings ( ie brothers, sisters etc) a good idea?

Question

I am a homeowner and I am thinking of moving out of state. I would like to rent the house to my younger brother who is not married with no children. Is this a good idea?

Answer 1

NO.......FAMiiLY TENDS TO TAKE ADVANTAGE OF ONE ANOTHER.....AND WHEN SOMETHiiNG iIS BROKEN OR NOT WORKiiNG, AND YOU DONT FiiX iiX QUiiCKLY THE WHOLE FAMiiLY WiiLL KNO ABOUT iiT.....

Answer 2

I'm a tenant, I rent from my step-father. As we both knew doing business with family wasn't such a good idea, we took steps to protect, both him, and myself.

If you want to rent to your brother, do it the right way. WITH a lease. One that states your rules for how your property is to be treated, for example, parties, pets,.. anything that could cause damage to your home that he's renting, also include the rent price, and any other stipulations you feel are needed such as what happens if he gets behind on rent? How long will you tolerate that before needing to evict him?  Then BOTH you and brother sign the lease.

It's a good idea to have everything in writing regardless of who you rent to so keep that in mind should the day come that brother moves, and you need a new tenant.

Answer 3

NO - not unless you want to be taken advantage of.