How much rent should I charge?

Thank you all for the input. I think I will have to have a discussion with her. Fortunately, we’re good friends and we can communicate well so a frank discussion regarding both of our expectations won’t be a problem.

I’m giving her free reign over the house. Meaning t.v. (fortunately we watch the same shows) she can play the Wii that I have, have friends over to play ping pong on my ping pong table, etc.

I’ll discuss the issue with the phone/cable and cable modem since although she’ll use them, I suspect she won’t be on the computer or use the phone as much. I won’t charge her for the services I have if she’s not using them.

The only reason I would expect her to pay for heating is that the room in which she’ll be sleeping is a room I shut off the heat/air conditioning because it’s my guest room. But, I may not ask 50%. These are all things we’ll talk about.

I think we’ll be able to come to an agreement we both can live with, she’s a very reasonable person, as am I, and we are both quiet, considerate and clean people.

Armed with all of the above info, I’m going to try to approach her tonight for a discussion.

Thanks again, and I’ll let you all know how it goes.

I’'ll just reiterate, make sure a rental agreement is drafted and signed as well as a roommate contract.

If you are truly friends, and value your friendship, that may be the best way to preserve it. If your friend is truly reasonable, she will understand (if you explain it) that these documents are to protect both of you, and so that you both have a clear understanding on what your roommate relationship will be.

I also would definitely echo the advice missouri65, your attitude will have to be one of a roommate. You can’t think of this as “I’m letting someone stay in my house.” Or, look at it like a disconnected land lord would. Just because I own a property doesn’t mean I think of my tenants as “people I’m letting live there.” I’m letting them live there because we have a contract and they pay me, on the flipside, I don’t get to come in and run things like it is “my place.” I cede significant rights as a property owner over to the leaseholder, you have to be willing to cede those sort of rights to this friend of yours, especially within the parts of the house that are “unambiguously hers.” If she’s paying rent on a room, you should never enter it without her permission, should never dictate what she does in that room as long as it isn’t something that a private land lord could dictate to a tenant (such as no pets, no camp fires, et al.)

I appreciate this explanation of why “sleeping rooms” are not equivalent to half of a 2 BR apartment–and thus should not be priced the same(regardless of local price differences between 1 and 2 BR apts)-- because I found your use of the word “retarded” to be way too strong as well, but opted not to prove that I don’t know much about rental situations.

With this background, your position is more understandable.

Well that just sucks the fun out of home ownership. :stuck_out_tongue:

nevermind

Half of your mortgage + half the utilities, plus of course you’ll need to share on food.

I know a guy who was in a situation like this and it caused a lot of grief. His roommate said that he was paying HALF but he didn’t get an income tax break on the interest paid. On the other hand, the roommate could walk away from the house any time it suited him.

IMO the person with the mortgage has many more responsibilities and it may seem, in the short run, like profiting off the roommate. But there are all kinds of repairs, wear and tear, appliances die, all that kind of stuff.

From what I’ve seen, houses basically rent for about their mortgage payment (low down/30 year mortgage). WAG but I bet they basically profit via the equity and appreciation, since the rent is paying the mortgage.

Wow. Around here (college town), bedrooms tend to run between $400-$700 depending on the apartment, for apartments with 2+ bedrooms. For a one bedroom, they tend to run $650 (rare) - $1100.

Cool. There’s a reason I advised the OP to check their local newspapers, different housing rates are present in different areas.