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

Red-Squirrel_2

You can't put a price on the loss of privacy and having to share with and be considerate of a lodger. A lot of what you're paying is compensation for that.

AnneMary

The time to negotiate terms is before you agree a contract. You may be friends but this is business.

Robothell

So my opinion is different to most here. OK, the friend is probably paying more than just mortgage in terms of the upkeep and running of the house (council tax/rates, utilities, buildings insurance etc.) and may be letting through an agent to the tenant. It is not unreasonable for the home owner to make a profit unless the idea is that the tenant is helping out with the affordability of the mortgage as a favour. But it does depend on the terms of the agreement in the initial period. I would say, however, that it's never too late to renegotiate the terms of the agreement (although you tend to be in a stronger position before you move in). The trick is to find somewhere else of similar standard at a lower price and use that as leverage - if you're a good tenant and always pay the rent on time then any landlord (friend or not) would likely rather keep you than go to an unknown tenant. But you need to be prepared to move if they dig their heels in.

jessneedshelp

Gas, leccy, wifi, telly licence, council tax (second person living there costs more money, and mortgage.
My lodger pays £350 per month. That doesn't count 5 week months. My mortgage is around £400 but with all the bills it's more like £1000 a month. Whatever you are paying it's less than living on your own. Your friend would not have a lodger by choice. It's to make ends meet like the rest of us.
Before talking to him work out how much it would cost you to run a house.

gloriouslyhappy

Talk to them about your finances, tell them if you are having a hard time paying, but leave their mortgage payment out of the discussion as it has nothing to do with the amount you agreed you would pay. Check market rates for similar properties in the area first, and remember to include all the extras you're getting eg broadband, council tax, anything shared you'd have to pay on your own elsewhere.

As you only moved in recently, it would be appropriate to review things and have an open discussion before you stay there much longer, although if you signed a formal contract with your friend, then you're bound by that contract.

donny_jim

I think by the replies on this page you have lost,you made an agreement, if now you are not happy, move out. The question then is, can you find elsewhere to live for that price or less. If the answer is no, then shut up and pay up.

Teacher2

The above points are all valid but I would also place into your calculations the value to you of living with a friend as opposed to strangers who might be awful and/or trash the place and 'borrow' your food and toiletries.

Sometimes it is worth putting up with an indignity (your friend profiting from your contribution) to secure a benefit.

PasturesNew

How much he pays in mortgage is irrelevant to how much you pay for rent.

There are additional costs in property ownership, repair/maintenance, insurances... but that's irrelevant too.

He offers a price, you accept that offer. That's it. Two people agreed a price for a service.

If you think it's too much, find somewhere better for the same price, or cheaper for the same quality.

If you ask him for a rent reduction it'll sour the relationship.

So choose: Stay or go.

skintboater

You are answering as if it's a real person. It's NOT it's made up!

Don't take the bait... Go and help real posters that will appreciate your good advice.

:money:

Jac1963

The mortgage payments are irrelevent. It's whether what you pay represents good value compared to other private rents and the security you enjoy sharing a home with a friend compared to strangers.
Your choice - move out if you feel cheated.