How much should I charge my boyfriend when he moves in with me? 🤔
That’s a question I’ve been thinking about lately.
I own a two-bed flat and my boyfriend rents a room in a shared house with his mates.
One of his housemates is buying his own place in Salford.
When he finally gets his keys, my boyfriend will move in with me in south Manchester.
So I’ve been figuring out what’s a fair amount to ask for in “rent”.
Here’s what we’ve decided…
I’ll continue paying the mortgage by myself.
He’ll give me £250 a month for half the bills + “a bit extra”.
Wondering how much rent to charge your partner when they move in with you?
Or maybe you’re moving in with your partner and you’re unsure how much to pay them?
Here are a few things to think about…
Whose responsibility is it to pay the mortgage?
First thing’s first, let’s look at the mortgage payment.
When renting off a private landlord, it’s easy to assume that you’re paying that stranger’s mortgage payments for them.
But when you share a room with a partner who owns their own place, paying their mortgage can feel a bit… off.
Especially if the house isn’t in your name.
It’s for this reason that I think homeowners should keep paying their mortgage by themselves and the ‘mover inner’ should contribute towards the household costs in other ways.
How much do you earn?
You might be thinking: “Right. Well, we’ll split everything else 50/50 then.”
Not so fast! Splitting everything 50/50 isn’t always the fairest way of doing things.
If one person earns a lot more than the other, it may be smarter to split the bills and other living costs based on income.
Let’s imagine one partner makes £75,000 a year and the other makes £25,000 a year.
In this case, it might make sense for the higher earner to pay 75% of the bills and the lower earner to pay 25%.
How much can you each save?
Ideally, you wanna come up with an agreement that leaves you both better off financially.
Let’s imagine a renter pays £500 for a room in a shared house. When they move in with their homeowning partner, their new ‘rent’ is £370.
Even though they’ve made a monthly saving of £130, the homeowner is £370 better off than they were before!
Is this fair? I wouldn’t feel right about it but I guess it’ll depend on the couple and their incomes.
How can you make each other’s lives easier?
There’s more to living together than simply who pays what.
You need to work out who does the cooking and cleaning.
What about the laundry and taking out the bins? Who plans the structure of your weekends? Who books trips, trains and tables at restaurants? Who drives?
These tasks are valuable and if one person is responsible for more of these things than the other, this might be something to reflect in the amount of rent that is paid.
Who’ll pay for furniture, repairs and replacements?
If you’re buying a house by yourself and your partner is moving in with you straight away, this can be particularly tricky.
Maybe the homeowner could pay for big stuff such as beds and wardrobes, while the renter buys bedside cabinets and coffee tables they would happily take with them if they moved out.
When it comes to repairs, maybe you could go halves on things you both use i.e dishwasher or washing machine.
Large replacements such as the boiler and windows could be the homeowner’s responsibility.
Should you seek legal advice?
Now for the serious bit. If you’re the homeowner, it can be a good idea to seek legal advice to find out whether your partner would have a claim to the property if you split up.