gridiron Posted March 28, 2005 Share Posted March 28, 2005 I will be buying a house in the next few months. I have a friend from out of town who is looking for jobs in the Houston area. We have talked about him moving in to a new house if I bought one. I am cool with that. However, he made a comment the other day, when I was talking about how high my mortgage would be, that an extra $100 a month would help if he moved in. I don't remember the flow of the conversation, but we quickly moved on to something else, and this comment did not stick out until after I hung up the phone. A hundred freaking dollars a month? That would cover barely a quarter of the property taxes. It seems like he sees this as doing me a favor because I was griping about my mortgage, but if he moves in, I would expect close to a 50/50 split. I also think it is reasonable to have either a lease contract or a written agreement with him. Knowing him, I think he would flip out and say a) I am doing this for you to help you out, b) You wouldn't get anything if no one was living with you, so anything I can pay you is a bonus, and c) A contract? We're freaking friends, why do you want to make this seem like two strangers making a deal. Are my expectations unreasonable? I already know some of the answers to his questions if this situation comes to pass, but if anyone has anything to contribute, I'd appreciate it. I can see this potentially getting ugly and would like to avoid that. I am thinking of another college friend of mine that once told me that there is no better way to kill a friendship than becoming roommates. This now has me thinking about other things that could come up too. Link to post Share on other sites
Donut Posted March 28, 2005 Share Posted March 28, 2005 Would he be moving in with you on a permanent basis or as just a lodger? Link to post Share on other sites
moimeme Posted March 28, 2005 Share Posted March 28, 2005 but if he moves in, I would expect close to a 50/50 split. That's cute. He pays half your mortgage and gets - shelter. Let him move in until he finds a place of his own and then rent out to a stranger. Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Sorry, left out some details. I am a single guy and so is he (both hetero ). The length of stay is not determined yet either, unfortunately. I don't know how much he would make with a new job, but probably not enough to get the house he would want for a while. I would think he would want to eventually get his own house, but that is something I would want to specify on a written agreement too. Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Originally posted by moimeme That's cute. He pays half your mortgage and gets - shelter. Let him move in until he finds a place of his own and then rent out to a stranger. 50/50 or close to the amount it costs to rent a comparable apartment. Is that so wrong? And the problem is I don't think he would plan on looking for houses for a long long time. Link to post Share on other sites
CurlyIam Posted March 28, 2005 Share Posted March 28, 2005 Good accounts make good friends. HAve a contract if you consider him staying with you. You're the only one who knows how much he should be paying, but you can take the rental of similar houses as a refference point. I believe that unless he's the frind you grew up with, the real brother you never had, he should pay. SO my suggestion is to get the papers ready and take him out for a drink. Explain him your reasoning, show him the papers and let him think about it. If the house were your parents and they left it to you, I understand that he might have thought it was ackward to pay. But given that you are paying for it right now, sorry, he wants to take you for a ride. Get everything in the clear as soon as possible. Link to post Share on other sites
Donut Posted March 28, 2005 Share Posted March 28, 2005 Well if he's not moving in with you on a permanent basis 50/50 does sound unreasonable, sorry. A written contract though IMO, is acceptable. When I lodged with my friend she asked for £50 pounds a week (so £200 per month, obviously) for bills and rent, I bought my own food though. Not sure what that equates to in dollars, but it sure is more than a hundred. Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Curly, thanks, I think that makes sense to me, we'll see what he says. A lot still has to transpire before we come to that bridge, but I think I will be hinting, if not telling him beforehand, what I would expect. Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Originally posted by Donut Well if he's not moving in with you on a permanent basis 50/50 does sound unreasonable, sorry. A written contract though IMO, is acceptable. When I lodged with my friend she asked for £50 pounds a week (so £200 per month, obviously) for bills and rent, I bought my own food though. Not sure what that equates to in dollars, but it sure is more than a hundred. That's cool. Maybe rent for a similar apartment, minus 20-25%?, may be closer to what I ask. The $100 he threw out there originally just seemed like it would not be worth it. But 50/50 may be pushing it too. Link to post Share on other sites
CurlyIam Posted March 28, 2005 Share Posted March 28, 2005 Wooow, no non non! No hinting! That's the basis for miscommunication. You're both friends, right? right. He wants to move in to your place, right? Right! So he has to sign a contract stating for how long he intends to stay there and the sum of money he's to pay! Don't do it after he moves in. Do it waaaay before. He needs to know all the details that you've thought of. It's ackward, I know, but it will be a thosand times less ackward than serving him with the papers after he moved in at your place. He might feel trapped - like you tricked him into moving him and now you're forcing him to sign, given that he has no other alternative as he is already at your place. I say do it ASAP. there's no reason for stolling! Link to post Share on other sites
Donut Posted March 28, 2005 Share Posted March 28, 2005 A hundred dollars is not enough, he is slightly taking the p with that. Look in your local papers to see what other people charge for lodgers or room renting. That should give you some basis on what to charge him. Definitely talk to him and find an agreement (written is best) with him before you say yes or no. Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Well, I only said hinting because I didn't want to lay it all out unless he either lands a job in Houston or gets really close, which is not at all definite yet. Now that I think about it though, I do need to tell him what the terms would be soon, since his looking in Houston may be partly based on an assumption that he could basically live rent-free with me. So you are right, I need to tell him right away so he knows where he stands and can proceed accordingly. Thanks for the insight! Link to post Share on other sites
Author gridiron Posted March 28, 2005 Author Share Posted March 28, 2005 Originally posted by Donut A hundred dollars is not enough, he is slightly taking the p with that. Look in your local papers to see what other people charge for lodgers or room renting. That should give you some basis on what to charge him. Definitely talk to him and find an agreement (written is best) with him before you say yes or no. You know, you're right, room renting/lodging charges would be more appropos than an apartment, since those prices could be different. You guys rock, thanks for the advice. Link to post Share on other sites
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