My boyfriend just bought a townhome and i will be living there with him and paying him rent. I want to come up with a fair amount that i should have to pay him. Taking into consideration:
the total monthly cost will be around $1100 a month.
I wont have my own bedroom( obviously sharing one with him)
And I am obviously not getting anything out of this at the end
He is the one that will be selling it and making a profit not me!
Please help me i dont know what is a fair amount that i should have to pay him each month. Kepp in mind that the $1100 includes association fee and yearly taxes!
Thank you!
2007-02-23 01:36:53 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
It sounds like you're hinting at the fact that half and half isn't exactly fair for you, but I think in the end that's what you should be willing to pay. Unless there are some strange conditions that you didn't list that limit your usage of the home, you guys will be sharing all the space of the place. If you have 100% shared access, then you both should rightly pay equal amounts.
As far as the point about him making a profit... remember that by being the owner of the property he bares all liability for anything that goes wrong, any accidents that happen on the property, and of course, financial responsibility (if he gets sued or goes bankrupt, they can take his assets... if the same happens to you, you won't have to worry about losing your home). Plus, its my assumption that you'll be living here without the standard terms of a lease, meaning no obligations.
Plus, you're talking about splitting the mortgage too... so you're splitting the cost. If you were to rent the same home, your payment would most likely be much higher, because you would have to include a markup for the landlord's risk and profit margins.
Personally, 550 a month sounds like a fair deal from what you've listed. If you want a better deal, then do what the rest of us do and negotiate :)
2007-02-23 02:00:02 · answer #1 · answered by Jeff S 2 · 2⤊ 0⤋
even tho you wont be making a profit you are still renting, i am not sure what state you live in but maybe you could go by what an apartment is for rent and use that as a guide line, i live in jersey and the lowest apartment cost per month here is around $800, so maybe go by what you would have to pay if you lived on your own & then maybe he will lower it a bit. Usually when you live w/someone, boyfriend or friend/roomate you really you should pay 1/2 of what it is per month, split everything right down the middle
2007-02-23 01:46:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would question the relationship. If he was a real gentleman he would not ask you to pay half of the rent. I would make it up to him in other ways like taking care of the house. I know that it is old fashioned but it make me wonder how much he loves you and wants to be with you. Now if you asked to move in and offered to pay half the rent that is a little different. As I get older I think that the man should cherish the women and she should take care of him. You should buy dinner, pay for the cleaning person, etc. Take care of the little things and let him take pay the rent. I have no problem paying all of the rent if the man was willing to take care of me but I would not want a man that could not support me. I am successful. In a nut shell. It should not be about the money. It should be about the love. In the long run he will feel more manly paying the rent and you will feel cherished taking care of him. It is old fashioned but it is human nature too. I understand that you may want to pay him and you may feel obligated but if he has offered to pay the rent, let him. Because being a woman you will probably do more in other ways.
2007-02-23 02:27:54 · answer #3 · answered by Anonymous · 0⤊ 2⤋
Well you are still living there. So you should at least cover 1/2 all the expenses outside of the mortage. Like utilities, taxes, common fees ect ect...
I agree with you that you should not have to pay on the mortgage if he is not going to share the profits with you, BUT, since this is your BF and you are living with him you may end up getting married in which case you will wish you were contributing to the mortgage also.
2007-02-23 01:55:55 · answer #4 · answered by Anonymous · 1⤊ 0⤋
You are basically renting a shared room. I don't know the market. Check out the newspaper or internet listing under shared houses and see what people are paying. I would say probably around $300-$350 utilities included.
2007-02-23 01:45:56 · answer #5 · answered by spot 5 · 0⤊ 0⤋
I am from the old school of thinking--you call him your boyfriend? Or you two roommates? There is the love and sharing in this relationship. Is he going to pay you for cooking, cleaning, putting up with his mood swings?
I think that the two of you have to really think about what do you want out of this relationship. Is this a maybe it will work or are you living with him because you can not afford to pay for a place by yourself?? Don't mix your apple with your bananas, call it what is really is--you have the answer in your heart and head.
2007-02-23 03:45:51 · answer #6 · answered by D S 4 · 1⤊ 0⤋
He getting any principal paydown, let's estimate $100/month.
He's also getting all the tax benefits, which are probably around $300/month.
Sounds like his real cost is about $700/month. So I'd say you should pay him $350/month plus half the utilities.
2007-02-23 06:59:12 · answer #7 · answered by Quixotic 3 · 0⤊ 0⤋
communicate with them and observe in case you will get it to pass wo the position they each and each pay one component and also you adult men pay one and a nil.5 parts. That what we do at my position of abode at the same time as someone is sharing a room.
2016-12-04 20:22:55 · answer #8 · answered by ? 4 · 0⤊ 0⤋
Since you're playing house....you may as well pay 1/2.
2007-02-23 01:44:58 · answer #9 · answered by Anonymous · 1⤊ 0⤋