Money Moral Dilemma: Should I tell my friend I want to pay less rent?

MSE_Sarah

I recently moved in with a friend who owns his house. We agreed a monthly rent, which at the time I thought was a bit steep but I didn't complain - however, after I'd moved in I found out what I'm paying is more than his mortgage payments. This means he's making a profit out of me - should I say something, or stay quiet and keep the peace?

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kazt2006

You don't quantify what sort of difference there is between the "rent" and your friends mortgage payment. Are we talking a few pounds or a few hundred pounds.

Do you have to pay anything else such as a contribution to utilities, phone, internet, TV packages? If your friend previously lived alone, he will automatically lose 25% council tax discount for solo occupancy. Is the place furnished?


How does the amount paid compared other similar rentals - I.e room rental in the area or even 1 bed flat rentals?


Ultimately you didn't have to move into the property with your friend if you were unhappy with the amount your friend wanted to charge and should have negotiated in advanced the rental began.

DaftyDuck

I bought a bottle of Coca Cola for £1.30 this morning. Apparently it costs the company twelve pence to produce and market. Can I demand a refund?

You agreed a price for what is being provided.

Materially, what has changed?

Marvel1

If you can find less, I would move out.

Council tax, 25% discount, really they are benefiting, now it's just 50/50, he is saving 25%.

flyingflea

I don't see what their mortgage payment has to do with your rent. Their mortgage repayment might be £100 / month, does that mean you should pay less than that? Of course not! You wouldn't suddenly offer to pay more rent if you found out their monthly mortgage repayment was 3 or 4 times more than your rent. You agreed to your monthly rent now stick to it. If you don't like it, move out.

It would different if it was your partner but they're not.

harshitguptaiitr

You agreed to a rent amount before moving in, either pay that amount or find elsewhere to live.
This should have nothing to do with personal finances such as mortgage of your "friend".

Your agreed rent was a specific amount, and not a percentage of the mortgage amount.

Gresp

Unless they're letting the room purely as a favour, isn't it normal for any landlord to make a bit of profit from rent?

If you were renting elsewhere, it would be the same. It was probably the case with your last landlord too (assuming you had one).

Maybe offer to do extra housework/DIY/gardening/etc in return for lower rent? Otherwise, I would imagine now you've made an agreement and moved in, it's a bit late to renegotiate.

Augustus_the_Strong

Your friend's mortgage repayments are not the point. How does your rent compare with renting elsewhere? If you want somewhere cheaper, move out. Or tell your friend that the rent is higher than you can afford, and you might have to look for somewhere cheaper. But whatever you decide, I don't think you have any right to pay less just because your friend's mortgage payments are less.

scd3scd4

My mum has no mortgage...........how would you decide what to pay her in rent?


Normally I agree a friend would not make money on another friend but we really don't have many of the details. Is the rent you are paying a good deal by comparison if you looked a round in the same area.
As stated are the unities included.


There really is no harm in talking to your friend. You may be surprised with their answers.

JourneyH

You don't say if your rent includes bills, if it does then that's fair as this is not profit, if not then speak to your friend while investigated moving out, as it sounds like unless you can talk to each without losing either of your tempers then this has already damaged the friendship let alone the bank balance...

glasgowdan

The only relevant question is what's the local market rate for a similar property. If it's higher then the person is getting a favour from their friend. If it's similar then the charge is fair. If it's lower then move out if you'd rather keep the friendship otherwise things could get awkward.