Splitting Mortgage Payment/renting out room, What...
...is Fair? My sister and I bought a house 2 years ago. There are 4 bedrooms and 2 bathrooms. My sister pays half the mortgage, and I pay half (with my husband).She has the master bedroom and private bathroom.. and her son has his own room. My new husband and I share one room, and use the other bathroom (not private). The final room is the room in question. We were planning on renting out the extra room to help with our finances.. My sister says that the extra room's rent should be applied toward the mortgage before we split it.I feel that I should get the extra room for my own uses since she and her son have 2 rooms and she doesn't pay anything extra for them (plus she even gets the master bedroom suite). Therefore the rent would belong to me.What do you think is fair?If we sell the house, profits (if any) would be split 50/50 between myself and my sister... My husband is not involved in the ownership of the house. So we split the payment 50/50. Although my husband and I have 2 incomes, we still only have 1 room in the house, and I only have half ownership. If we split the rent money between both of our payments, then my sister would be paying 50% of the house but getting 2 rooms plus half the rented room (62.5% of the rooms in the house). And I would be paying 50% for only 1 room plus half of the rented room. (37.5% of the house)
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