Browse Forums Building A New House 1 Mar 31, 2011 2:35 pm Hi, I've just finished building my first home by myself and although it has been a long process, hoping it will all start to feel real now! I was originally going to be living by myself but i've been approached by a close friend about living with me and renting. Im in my 20's and have been living with my parents previously, so this is a new thing fo rme, i've never rented nor do i know what is involved. I'd like to live there for a few months by myself, but having company and a little bit of extra money wouldn't hurt at all! I am wondering if any body is able to provide any advice. I have no idea what to charge either. It is a brand new house, with majority of the furniture being brand new, including all the kitchen items. There are 2 bathrooms, so this person would pretty much have sole use of one and also part of the garage to secure their car. Although this is for a house, rents in the area are anywhere from $320 to $450 a week!(then plus bills/food etc) It seems far too much to charge plus bills for a friend!. Do you charge a 'per week' or 'per month' rent amount and then go halves with the bills that come in (such as water, electricity etc) and i pay the rates myself? Is it easier for each person to buy their own food? Do you have a contract and sign something? I dont want either of us to get ripped off! Thank you for any advice. Re: New house built - renting a room out, but what to charge 2Mar 31, 2011 2:53 pm The way I did it was Charge a per week (it was actually fornightly) amount and then bills went half. Obviously rates you need to pay yourself. Food - things we both used like bread etc we would go halves or take it in turns to pay for while things that we weren't going to both used we bought ourselves. A good way to decide on how much to charge your friend without ripping him/her off would be to look at places like gumtree and see what people r charging for one room in a house share situation. Built with RedInk Custom 5000 Key Handover 15/12/2009 Re: New house built - renting a room out, but what to charge 3Mar 31, 2011 3:01 pm At a guess $150 week - then split gas/water/elec/shopping, rates/insurance are all yours. Depending on how good you get on with the other person and if you share same taste then you can share food/cooking. Would also have to figure out something in regards to cleaning of shared areas. I dont think people sign contracts to board. Re: New house built - renting a room out, but what to charge 4Mar 31, 2011 3:07 pm dragonflychic At a guess $150 week - then split gas/water/elec/shopping, rates/insurance are all yours. Depending on how good you get on with the other person and if you share same taste then you can share food/cooking. Would also have to figure out something in regards to cleaning of shared areas. I dont think people sign contracts to board. That sounds pretty fair. If your place is a 3 bedder, I would charge them just over a third of what a nice 3 bedder would rent out in your area. I.e. $350 a week for the whole place, I'd board out for maybe $130 a week, plus bills (not including rates). I'd love just for someone to split my utilities! After living with your parents, its the bills outside your mortgage than can really creep up on you! Re: New house built - renting a room out, but what to charge 5Mar 31, 2011 3:28 pm dragonflychic I dont think people sign contracts to board. Although not a "contract" I'd still document the expectations (for both parties) on outgoings, payment frequency, etc. It's not enforceable but at least you can agree on a single point of truth. mmm....donuts Homer Simpson 1956- Links: Site Costs Ready Reckoner | H1 Addiction Medical Advice | Château TDL: The Backyard Re: New house built - renting a room out, but what to charge 6Mar 31, 2011 8:30 pm to_do_list dragonflychic I dont think people sign contracts to board. Although not a "contract" I'd still document the expectations (for both parties) on outgoings, payment frequency, etc. It's not enforceable but at least you can agree on a single point of truth. Exactly, then should anything go wrong later down the track it's not she said he said. Not a bad idea to get a bond (can be say a couple of weeks rent up front) just incase anything is damaged by the person. I did this and with held the bond until the burnt carpet was replaced (carpet under 12 months old hair curlers don't mix) after she left. Built with RedInk Custom 5000 Key Handover 15/12/2009 Re: New house built - renting a room out, but what to charge 7Apr 01, 2011 3:37 pm Thank you for the replies. I've also asked around and it seems 130-150 seems reasonable with bills split. This might sound a bit silly, but what happens if this person wants their partner over or to stay over? So technically they'd also be using all your things (furniture/kitchen/bathroom), and is a stranger too. Is this something you just 'put up with' because they are renting? I just want to cover all possible aspects so i know what i might get myself into! Re: New house built - renting a room out, but what to charge 8Apr 01, 2011 4:12 pm Thats the down side - you are not their mother and cant tell them what to do!!! Pick a house mate very carefully! Re: New house built - renting a room out, but what to charge 9Apr 01, 2011 4:19 pm I would say $130.00 sounds good, and expect the partner to stay over, but if it becomes a permanent thing, more than 3 nights per week and they are using the shower, eating your food etc.. then I would say something. And half of the bills, including excess water, but not the rates, insurance. The food is a hard one, you will need to work that out depending on what you buy. We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 13752 If you already have a contract, is the inspection cost stated in there? If not they would be forced to issue you a variation which you could of course object to. 12 25865 Hey, I am wanting to add a second toilet to my house, bit we have limited room. There is a hallway/entry that is never used, so was thinking this could be an option. Only… 0 4709 |