whats a fair price....

00Z28SS

Forum Member
To charge my cousin rent? I have a 2400 square foot house and he obviously would have full access to everything including a spot in the garage. I'd rather just charge him a flat rent instead of trying to split utilities. Let me know what you guys think.
 
To charge my cousin rent? I have a 2400 square foot house and he obviously would have full access to everything including a spot in the garage. I'd rather just charge him a flat rent instead of trying to split utilities. Let me know what you guys think.

Depending on what your house payment is, $500 sounds cheap to me. I'd make it not quite 1/2 the payment and 1/2 utilities to keep things fair.
Splitting utilities helps the renter mind how they treat the gas/water/electric like it was their own ;) Otherwise you have the chance for abuse, no matter who the renter is.
 
Splitting utilities helps the renter mind how they treat the gas/water/electric like it was their own ;) Otherwise you have the chance for abuse, no matter who the renter is.

Didn't really think about it this way
 
I'd make him pay 40% rent and 40% utilities. Since utilities change month to month I'd take what you've paid over the last year and average them out and take 40% of that.
 
Depending on what your house payment is, $500 sounds cheap to me. I'd make it not quite 1/2 the payment and 1/2 utilities to keep things fair.
Splitting utilities helps the renter mind how they treat the gas/water/electric like it was their own ;) Otherwise you have the chance for abuse, no matter who the renter is.
The owner is getting equity in the house. The renter is not getting anything other than a place to live for a month. There's no chance a 50/50 split would fly. How can you abuse water? lol

I charge $400 for a similar setup. Plus he's your cousin so there's no risk of getting some crazy untrustworthy nut job which is worth a lot of money in my eyes.

I'd say $500 is a pretty fair price.
 
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