My parents are getting a little older but they still work and pay rent for their current house. I'm potentially purchasing a property that has a secondary housing unit on site, they said they would love to come live there and pay their share of the costs. Does it make sense to draw up a rental agreement for them to collect money and report it as income on myself, or just let them gift me money and use that towards the payments of the mortgage? My mortgage loan isn't contingent on me renting the property out.
original posted by Klutzy_Win_6694 to r/personalfinance on Mon, 08 Apr 2024 15:49:35 GMT.