Is "renting to family" good or bad?

[Champ Leong]

I suppose the bottom line in renting to family is whether or not I trust them. If a family member owes me money now and keeps on coming up with a reason why they can't pay, what makes me think they will pay rent on time? OPINIONS PLEASE!

[Nathan Gesner]

Originally posted by @Champ Leong:

I suppose the bottom line in renting to family is whether or not I trust them. If a family member owes me money now and keeps on coming up with a reason why they can't pay, what makes me think they will pay rent on time? OPINIONS PLEASE!

I regularly warn against this. If you have a strong relationship and they are 100% trustworthy, then this may be a viable option. You've already determined they aren't financially reliable, so I would avoid it at all costs. If things go south, you could end up losing the relationship and money. And if other family members starting picking sides, you could lose a lot of relationships.