Housing cost with roommates.

[Hex]

I moved in April and my rent went up from approximately $1400 to $2400. I also started charging my son and his girlfriend $100 per week in rent (it was going to be $50 but they wanted the bigger bedroom). They pay me via Apple Pay. What should I put down on credit applications and CLI requests for housing costs? I am the one who actually writes the monthly check. Also if someone didn't pay me on time would that make difference? Both of their names are on the lease. I'm probably overthinking this but I want to know for sure because I want to do it correctly and be consistent especially when requesting subsequent CLI's from the same lender. I can't even remember what I put down for Disco a couple months ago. Thanks! 

[Anonymous]

I would put down $2k because that it is what it is costing you out of your own pocket.

[Brian_Earl_Spilner]

Simply draw up a contract between you, your son, and his girlfriend outlining payment. It doesn't have to be fancy, but it can be used as proof, if needed, for what you pay.

[M_Smart007]

I agree, put down what you pay. (your actual out of pocket)

[Credit12Fico]

Basically they use this information to assess your "debt to income" Put what you pay (2400)

But also include the money you collect from the "housemates" as income on top of any other income. This way they get a true reflection of your debt to income, not one that is inflated because you didn't include the income from "leasing".

[Hex]

I don't want to claim it as income at all because it's not and if it were I would need to be paying taxes on it. I pay all the utilities and everything else from renters insurance to dishwashing machine soap. I'm losing money on the arrangement so cringe at the idea of counting it as income. 

[Anonymous]

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@Hex wrote:

I don't want to claim it as income at all because it's not and if it were I would need to be paying taxes on it. I pay all the utilities and everything else from renters insurance to dishwashing machine soap. I'm losing money on the arrangement so cringe at the idea of counting it as income. 

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Don't overthink it 

As the other 2 said, the actual out of pocket will do (2k)

[Meanmchine]

Which ever one you feel comfortable with.  No lender is going to quibble over a couple hundred dollars in rent

[Hex]

I should have been clearer. They each pay me $100 a week so it's $800 a month of the $2425 a month I pay before the unities which are $600 a month and I pay all of those

myself. So it's $9600 a year and I thought that might make a difference to a lender.  

[Hex]

They got the room with the walk in closet. In MA it's a great deal for them.