whether renter should pay homeowner’s costs
Hi Terry, My adult daughter is renting part of a house that is owned by a friend, and the friend (the owner) lives in the house also (this is not a romantic relationship). My daughter is wondering, is it fair that she, as renter, has to pay the same monthly costs as the owner does, without having any of the benefits of owning, such as tax deductions, building up equity, ultimately having authority as to the use of the house, having the security of a permanent place to live, etc., etc. Or should the owner be responsible for paying more per month than the renter?
In other words, the owner divides the mortgage payment, utilities, property taxes, property insurance, etc., etc., in half & charges my daughter that amount, even though my daughter is just renting. Please advise, and thank you so much.
Terry Says
In my opinion, the owner is getting a good deal. If your daughter can find an equally nice place for the same – or less — rent, then she should move. Or maybe when real estate prices come down, she will have saved enough money for a down payment on a home of her own. Basically, no one is forcing her to pay this rent — And her “landlord” is just getting the price she wants. It’s fair, if after realizing all this, your daughter is still willing to pay!
