Shared student house let for my son – strategy advice requestMake Text Bigger
I have a house for my student son and three friends.
My question is quite simple. Would you do a three room tenancy agreement for three students renting part of the property and use of the communal areas, or a whole house tenancy single tenancy for the four (with the higher rent)?
If there is a whole house tenancy, in theory I would be taxable on the one quarter rent I never receive. I would argue against that as the contract is just a legal arrangement and there never was an intention to collect the rent from my son, which I would be paying anyhow.
Presumably I should only claim three quarters of expenses in either case.
So which approach would you take and why?
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