UK Property Law
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Hello - you have a legal right to charge money for rent no problem
There are a few points that maybe be of issue, however. If you have a mortgage on the property does it allow rental.
The adults in both families must all sign the tenancy agreement and be jointly and severely liable. This means they will each be responsible for the full rent if other do not pay.
Are there any other points you would like to raise. If not then your 5 start rating is much appreciated.