My brother and I recently bought a house in South Nashville and have been trying to determine the best way to handle the share of rent collection. He lives in Nashville and has for about a year, and I live out of state. The house we bought is a single family with an in-law suite in the basement with a full kitchen/bath/living area. We just had long term renters move in to the upstairs and their rent payments cover all but $450 of the mortgage. Our initial idea was that he would essentially pay me half of the market rate for the space he is occupying in the basement, which would allow me to cash flow about $200 per month and he would be left with a payment of about $650 per month out of pocket. We are second guessing if that makes sense, as it seems as though he is paying me rent, which he doesn't like the sound of, and I completely understand. But at the same time, I have my own mortgage to pay for and it seems a bit unfair that we would essentially split his living expenses if he did not pay me  for occupying space in the house. We are very cordial about the situation and just want to have the rent collection make sense in the end of the day without anyone getting screwed over. We are looking for unbiased opinions that will help us come to a logical conclusion.