How do I figure out how much to charge a room mate to live with me?

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This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 6 months ago.

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    Anonymous

    I’m going to try having 2 room mates to help pay the bills so I can hopefully not take out more loans for my fall college semester. Problem is, I don’t know what to charge them. I know most times people split the rent and utilities 3 ways, but in my case, it’s a bit different. I own my place, having to pay home owner’s insurance on it. I also have a lot rent fee (live in a mobile home park) and of course, utilities. If I split everything 3 ways, that means each tenant will only be paying less than $ 200 a month to live with satellite tv, internet access, electric, and ac/heating costs. I live in the 2nd most expensive township in the county (for taxes). I also know 1 bedroom apartments in my town are going for $ 450 and a 2 bedroom (which is rare) goes for at least $ 625 monthly. These apartments are unfurnished. My place is completely furnished (a college student will be living here) and a close friend. I have 2 bathrooms here, so I will keep my own private bathroom, and they can fight over the hallway one. Is it wrong to charge them $ 325 a month each, which will be paying my mortgage too? I’ll only be paying out like $ 75 a month with room mates. Since one of the room mates is going to be a closer friend, I feel badly about “ripping” her off, but in reality, ain’t I really helping her with a cheap living arrangement? (I didn’t figure in to account the yearly property taxes, so I’ll still be paying them every February, but that’s less than $ 300).

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