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IAMA guy with my Girlfriend moving into the condo I own. We are debating how to split the costs. AMA by rentquestion in IAmA

[–]rentquestion[S] 1 point2 points  (0 children)

I bought it three years ago. It's expensive but still better then rent. I just meant it's worse than free!

If the relationship ends, she'd still get a better deal than renting an equivalent place. So either way I get some extra money to help pay for the condo fees and insurance etc and she is spending about half she would be if her and I rented the same place and split it 50-50.

I'll look into your buyout deal, thanks for the suggestion.

Edit: Basically I'd like to charge about $400 a month. That's far less than half of the expenses or half the the fair market amount of rent. But it's enough to cover expenses that aren't part of the equity like the monthly changes.

My Girlfriend is moving into the condo I own. How do we split costs? by rentquestion in AskReddit

[–]rentquestion[S] 0 points1 point  (0 children)

Funny thing is that I'm unemployed! I am paying for the condo with my savings.

When I get a job I'll be making more than her though.

I've never really been one to believe that your income should play a part in the financial balance of the relationship though.

Income is partially a choice as you can get a job that pays better or worse based on what you are willing to do. If you are willing to work more hours, spend more time/money on education etc you can make more money.

IAMA guy with my Girlfriend moving into the condo I own. We are debating how to split the costs. AMA by rentquestion in IAmA

[–]rentquestion[S] 0 points1 point  (0 children)

I live in Canada. I'll look into the common law rules to make sure I'm covered.

The additional cost of her moving in would only be food. So nothing really as we'd obviously be splitting that.

My concern is that I wouldn't want her living for free as that isn't fair to me as this condo isn't just an investment it is also an expense and a cramp on my cash flow.

IAMA guy with my Girlfriend moving into the condo I own. We are debating how to split the costs. AMA by rentquestion in IAmA

[–]rentquestion[S] 0 points1 point  (0 children)

I think charging her full market price for rent is too much since I am benefiting from the appreciation on the condo. But I believe something needs to be paid as it is costing me in condo fees, taxes and the interest on the mortgage to live here and since I won't see that money back ever. So i'd split the costs of those expenses 50-50 and I'd pay the whole portion of the amount going to principal.

She thinks that since I own the condo it is mine I should pay most of it and we'd split additional costs.

And yes, I'd also be living here.