Primary residence renting
I have been renting out a couple of rooms in my home. Does anyone have guidelines on what the rent amount should be? I am currently renting at market value, but only at 1 percent of the gross purchase price (not including my share). I know that people (MikeOH) recommend 2 percent as having good cash flow possibilities. My question is 1 percent decent considering I am living in the home or perhaps it is better to consider the rent amount verse the PITI, which in my case covers the PITI, but not maintence etc...? (more is better of course if the market allows for it, but just as a general rule) Thanks.
Sean