renting - Posted by hdhougen

Posted by Dons on April 14, 2006 at 19:21:29:

The amount of your loan payment is none of their business! Never bring it up for discussion. If they ever ask, just tell them, “It’s a secret.”

renting - Posted by hdhougen

Posted by hdhougen on April 14, 2006 at 09:07:01:

I bought a house to live in while I go to college and I want to get 2 roomates to pay off the mortgage for me. My question is, if I make each roomate sign a lease can I put the amount they would have to pay per month(for example 225.00) or do I have to put the full amount (ex. 500.00). I would rather them not know how much my mortgage is, so there wont be problems. Any responses will be appreciated.

Re: renting - Posted by bill

Posted by bill on April 15, 2006 at 07:49:54:

find out what the standard rent is for rooms in your area and use that as your guide. also when they pay rent they will probably assume some type of ownership from their room, maybe having people over when is not a good time for you and so on. that could create problems. make your expectations clear as if they were not friends just room mates and go from there.

Re: renting - Posted by Adrian

Posted by Adrian on April 14, 2006 at 19:12:59:

Well I heard this happened once, a guy bought a place and rented it out to his friends, and had them sign a lease. What ended up happening was they started fighting and blah blah, then they found out that they were paying rent which turned out to be more then the mortgage payment (not illegal) but infact that the guy was pocketing the profit without paying taxes on this extra income. So what happened u ask, they of course reported it, and in a rare case he got in trouble for doing that. Remember its very rare and most likely wont happen, But just be careful who u rent it to.

Re: renting - Posted by jason

Posted by jason on April 14, 2006 at 10:21:36:

jsut make a lease for each person for the amount they are responsible for. that’s what a lease is for. your mortgage doesnt even come into play…