What Is A Fair Price To Charge For Room And Board

Family members could save money they would otherwise have paid if they had rented premises elsewhere from your home.

What is a fair price to charge for room and board.

The family is kept together under one roof. 2 charge the adult child that of his own income for room and board. If the employer charges for a room the maximum charge that can be deducted from the employee s pay is 31 70 per week for a private room and 15 85 per week for a shared room. However this method can be considered a bit unfair if you live in an affluent area with high housing prices.

Keep in mind discounts are cause you love your well behaved grown up child they are therefore not mandatory. For meals the employer can only charge 2 55 for each meal and not more than 53 55 per. From 1990 91 to 2015 16 the average inflation adjusted room and board charges rose from 5 700 to 9 800 at four year public institutions and from 7 400 to 11 600 at four year private nonprofit institutions figure 1. If you re paying 1 500 a month it works out to 1 25 per square foot 1 500 divided by 1 200.

The 50 is up to your family s financial situation. This makes your room worth 375 and hers worth 250 for a total of 625 dedicated to the bedrooms. Now multiply each of your bedrooms square footage by 1 25. If you need the money by all means use it.

Direction i got from both the county social worker and someone in the local social security office is that we could set rent at 1 3 of household expenses because there are 3 adults living in the house. I would take up to 150 per week with 100 being a forced savings that he knows about and 50 being room and board. So if you want to be greedy or if he s been getting on your nerves. The 100 can be used upon your approval for a car apartment etc.

To rent a room and boarding to family in your home provides untaxed extra cash. I had to provide a rent statement when we applied for medicaid for my mom she lives with me. There is a maximum amount that most employers can charge for room and board.