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Old 11-03-2009, 07:41 AM
 
Location: Mid Atlantic Coast
51 posts, read 157,686 times
Reputation: 55

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Times are rough on my elderly Mom. She would like to rent out a room in her house to help offset her utility bills and make it easier to get by. If she rents out a room does this make this rental property? Like I said she's elderly and she's worried that if she rents a room out she will loose her status as primary residence and she'll have to pay higher taxes on the money since it was income producing. She's planning on selling her house when the economy turns around and doesn't want to loose in tax breaks because she rented a room.

Does anyone know the answer for her or where I can find out?


Thanks
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Old 11-03-2009, 07:53 AM
 
Location: southwest TN
8,225 posts, read 14,948,102 times
Reputation: 14983
You have to provide some info - state and city/town. There are landlord-tenant laws which may cover this situation but not knwing whether your mom lives on the moon or in NYC, no one can answer.
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Old 11-03-2009, 09:19 AM
 
604 posts, read 1,780,309 times
Reputation: 205
Assuming hopefully OP is referring to a property in Delaware otherwise why post it here.

Does your mom have a mortgage payment?

You can DM me ..need more information.
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Old 11-03-2009, 11:31 AM
 
Location: Mid Atlantic Coast
51 posts, read 157,686 times
Reputation: 55
This is her primary residence in Selbyville, DE Thanks so much
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Old 11-03-2009, 11:32 AM
 
Location: Mid Atlantic Coast
51 posts, read 157,686 times
Reputation: 55
19975 Thanks
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Old 11-29-2009, 12:44 AM
 
Location: Mid Atlantic Coast
51 posts, read 157,686 times
Reputation: 55
bump
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Old 11-29-2009, 05:58 AM
 
Location: Wilmington Delaware
121 posts, read 470,992 times
Reputation: 84
There are other factors with the rent a room plan that need to be considered. Screening the tenants is very important. Many times people present well and once they are in the house can be problematic and hard to evict. It would be especially difficult for an older person to enforce rules and draw clear boundaries, collect the rent. Some tenants are legit and compliant, many are on the move looking for ways to get over without paying. It is like the family member who comes to visit and does not leave.
Tenants have rights and can be difficult to evict.
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