The action of securing a lease agreement for a residential property intended for occupancy by a relative represents a specific type of housing arrangement. This involves one individual, the leaseholder, entering into a contractual obligation with a landlord, while a different person, the family member, resides in the dwelling. For instance, a parent might lease an apartment for their adult child attending university in another city.
Facilitating housing for a family member through a leased property can provide stability and security, particularly for individuals facing challenges in securing housing independently. It can also offer financial advantages, such as leveraging the leaseholder’s credit history or income to qualify for a desirable property. Historically, this arrangement has been utilized to support younger or older relatives, or those with limited financial resources.
