Real Estate Law
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The apartment is in our daughters name, we have a documented loan to her of 1.2 million. ( the under standing between our daughter and us, is that 1/3 of the apartment is hers, when we sell, and 2/3 is ours) we never intended for her to pay loan or interest to us. It was the intention that she would take a tenant and that money should go to us, to cover some of the cost for the credit line we took out . Now she is not taking a tenant, and her boyfriend is moving in. So we find ourselves in a different situation, where he now has to pay rent. We are not looking to get the full market rental value of the apartment, as we would like to hep our daughter , as she does not earn so much. we would like to charge him a reasonable rent, which we are unsure of, what would that be?