General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
How do I get tenants to pay for my mortgage and utilities ?
I live in a one family house. I live in the basement; 2bd 2bath. My mom use to live upstairs. My mom moved to florida so there is a 3 bd 1 bath vacant for the past 6 yrs. Ive been thinking of renting it for a while. I know to look at other apartments in the area and get a ball park on what to charge for rent. But if I live downstairs how are the house expenses divided? I would like them to pay everything so i can live rent and utility free. My mortgage is $1500 , Utilities are say $800 =$2300
How do i go about having my tenants pay my mortgage and utilities when they know that they are also paying for my use of electricity, gas and water too?
I was also thinking about say charging $2500 and having them pay utilities as well.
Side note ----There is a rental on my block that started asking for $2600 3bd 1 bath 2 months later they are now asking $2200 range in 3 block radius is $2200 - $2700
How do i set this up? Can this be done?