Renting spare room to buddy and his girlfriend

1 Reply

Good Afternoon BP Community!

Hoping to gain some insight. Recently I have purchased my first home, condo 2bd/2.5bth, and am looking to rent out the spare room to help with the cost of the mortgage. A good buddy of mine and former roommate from back in college has asked if he  and his GF of three years can rent out the room. 

Has anyone had experiences renting out a spare room to a couple? Should I charge them each 1/3 my total monthly cost of living there (mortgage, HOA, escrows and insurance) and we split utilities three ways? Or do I charge them 1/2 for everything like I would if I rented out to a single person?

Any advice, tips or insight would be greatly appreciated. 

Thank you all.

First get ready for drama 

Now What your expenses are  doesnt matter . If you got the house for free would you charge less? 

Your utilities will go up quite a bit .  I would charge them the going rate for roomates in your area . Then figure a number for utilities and add that to the number . If you come out paying 25 % and they pay 75%  and they agree , good for you 

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