Should we "rent" to our son and his girlfriend?

[SFBayBoomer]

Originally Posted by Avondale15

... I'd be inclined to sell the unit and travel to different places instead....

What says you?

Sell and travel! Enjoy yourselves.

[Jkgourmet]

Originally Posted by Lillie767

Let your son truly "leave the nest" and find out what life is about. That's a valuable gift to give him and his current girlfriend.

My first marriage ended in divorce after 2.5 years. I was 21 years old, a high school degree, no skills beyond being able to type, no work history, no alimony. Totally ignorant and dependent.

Best thing my parents EVER did for me was not inviting me back into their home. I'm ashamed to admit that it took me many years to realize how hard that must have been for them.

[tamajane]

It sounds like you are not thrilled with spending much time at the condo. It seems like a lot of effort and risk to let your son and his gf live there and sort of rent but not, for something without much reward. There are a lot of possible things that could go wrong.

[jackmichigan]

Originally Posted by Avondale15

Should we "rent" to our son and his girlfriend?

No. That will tie you down as well as your son (to a degree).

Since it's an inherited property (recently, I assume), you shouldn't owe any capital gains tax if you sell it. Sell it and keep your options open.

Note: Did you establish its value at the time that it was inherited?

Originally Posted by Avondale15

I'd be inclined to sell the unit and travel to different places instead. The total expenses of keeping the place (with two old cars) come to about $19K per year -- not exactly chicken feed.

So, you already know what your answer should be!