Gradual release

[mjkacmom]

For those of you who have adult children living at home, to save on costs, I'm curious: are roommates not an option? My DD27 has always had 2-3 roommates--down to one now, she moved in with What's-his-name. My BFF has 5 kids--the three that live near her are renting a house together a town over. I realize that, for some people, living in the childhood home is nicer, you know the people, etc. But it seems like it's not even considered as an option. When he was first out of college, DH rented a 4BR house with 3 other people--not only did he have his own room, but there was laundry facilities, a full, finished basement with a bar and pool table, a nice yard, etc., in addition to the living room, dining room, full kitchen, etc.

Again, I'm just curious, not criticizing the choices of others. It seems to me like it would be a good compromise--saving on rent, while still living independently.

My son and his friends have been looking for a year, prepared to pay up to $1000 a month each. Rentals get snapped up very quickly, and most landlords prefer families. He rented with others for 3 years before Covid. My husband had 2 roommates for 5 years after graduating college.

 

[kdonnel]

For those of you who have adult children living at home, to save on costs, I'm curious: are roommates not an option? My DD27 has always had 2-3 roommates--down to one now, she moved in with What's-his-name. My BFF has 5 kids--the three that live near her are renting a house together a town over. I realize that, for some people, living in the childhood home is nicer, you know the people, etc. But it seems like it's not even considered as an option. When he was first out of college, DH rented a 4BR house with 3 other people--not only did he have his own room, but there was laundry facilities, a full, finished basement with a bar and pool table, a nice yard, etc., in addition to the living room, dining room, full kitchen, etc.

Again, I'm just curious, not criticizing the choices of others. It seems to me like it would be a good compromise--saving on rent, while still living independently.

It was a difficult and stressful process for my daughter and her 3 roommates to find a house to share.

Some of the problems they experienced were because of their inexperience, some because the process is long and error prone.

The sites they were looking on were clearing house sites (Zillow and others) that gave them the most options but it turns out were often 1 to 2 weeks behind on true availability. They wasted a lot of time applying for homes that were not actually available. The applications took about an hour for each person to complete. I eventually helped them locate the management companies direct web sites which were much more accurate in displaying availability.

They also were reluctant to have several applications out at the same time as each application incurred a cost of $50 to $75 a person. That fee is generally refundable as long as you are not turned down. If the property ends up unavailable you get the money back but that process can take 3-6 weeks. As new adults they did not have the money or didn't understand that sometimes you have to out lay more than you want to get what you need.

They also ran into companies that had application policies that were discouraging. The better rental companies would take a property off the market and not allow applications until a determination had been made. Others however would continue to take applications and then choose from the pool of applicants. Being a group of 4 recent college graduates (2 qualifying as themselves, 2 with parental guarantors) did not help them when compared to other applicants further along in adulthood with simpler applications. It was always a struggle to figure out how to submit the application when it was asking for 3 months of paystubs and one person has only been working for a month and a half and another person (my daughter) won't get her first paycheck until the end of August.

The application process was also a pain. Each person 18 or older has to be on the lease so that meant 4 applications for each property. There was a need for constant coordination to get the applications filled out in a timely manner, you generally had just a few hours after a property appeared to have a chance.

Then the rental companies are understaffed just like every other business at the moment. Communication was lacking. At one point they were relieved to have found a home only for the current tenants to decided to remain. The rental company knew this for 3 weeks and never contacted my daughter or the other 3 to let them know they should be looking for another property.

When they finally did manage to execute a lease and get a move in date the rental company dropped the ball. No one from the rental company showed up for the virtual move in orientation where they would be provided with the lock box code to get the keys and be able to enter the house. What should have been a happy day turned into an ordeal of phone calls while attempting to work. One of the roommates, the one with the most flexible job, was more or less on the phone from 10am until 4pm trying to find out how they could complete their orientation. In the end the orientation occurred and a code was given but the code did not open the lock box.

Luckily I had visited the home a few days earlier and had taken a picture of the lock box screwed to the side of the home. I had thought it was odd, not realizing that was how the keys would be distributed to the tenant. In my picture the lockbox was open and the code visible. I had them try the code from my picture and it opened.

The 4 of them are splitting $2250 in rent, plus utilities. It looks like it will be right around $750-$800 a person a month for rent, insurance, power, water, gas, trash, and pest control.

 

[disneychrista]

Your post just reminded me of another way we are helping our adult daughter - that I had completely forgotten, honestly.

She also did not make enough to qualify for her 700sf one bed apartment. The rent was closer to 50% of her income; so, I cosigned for her. She's made every payment herself in the last two years. But, she wouldn't have gotten her foot in the door without a co-signer.

Question: As a co-signer do you qualify, based on your income alone, to rent the place?

 

[QueenIsabella]

See, my DD and her boyfriend didn't have any trouble finding a nice rental. However, they live in a city with many 2-family houses--maybe that's why they had a lot of choices? Her previous rental was also a 2-family house. It's very common in the Boston area. Around here, most of the rentals are either in apartment complexes and/or around the college.

 

[Colleen27]

For those of you who have adult children living at home, to save on costs, I'm curious: are roommates not an option? My DD27 has always had 2-3 roommates--down to one now, she moved in with What's-his-name. My BFF has 5 kids--the three that live near her are renting a house together a town over. I realize that, for some people, living in the childhood home is nicer, you know the people, etc. But it seems like it's not even considered as an option. When he was first out of college, DH rented a 4BR house with 3 other people--not only did he have his own room, but there was laundry facilities, a full, finished basement with a bar and pool table, a nice yard, etc., in addition to the living room, dining room, full kitchen, etc.

Again, I'm just curious, not criticizing the choices of others. It seems to me like it would be a good compromise--saving on rent, while still living independently.

Others have covered some of the issues - application fees which aren't refundable if you're rejected (which, in our experience, means if any one of the roommates doesn't make the cut the landlord/rental company keeps everyone's fee), low availability that moves very fast, a group of young people being less desirable tenants than a family or couple, etc. Another one we ran into was something that negates the point of roommates entirely and one that was totally new to me: requiring everyone on the application to meet the income standard individually. Which I can understand from the landlord's POV - that way, if one or more of the housemates moves out unexpectedly, you have some assurance that the one(s) left behind will be able to pay the rent - but which really sucks for young people thinking a roommate or two is a way to afford a place they couldn't qualify for on their own.

 

[Mackenzie Click-Mickelson]

Another one we ran into was something that negates the point of roommates entirely and one that was totally new to me: requiring everyone on the application to meet the income standard individually.

I don't remember what the qualifications were without a co-signer only remember that I qualified for it without one but the apartment I lived in the college town where my alma mater was at when I was a junior and senior was a rent by the room, all the leases were individual leases so the rule about whether you needed a co-signer or not was based on the individual rather than collectively. It was a unique apartment complex though, to my knowledge being the only one at that time (and may still be) in the college town to do have individual leases like that but at that time all utilities were included with exception to a cap on the electricity where overages were split automatically in the bills by however many roommates were living there as well any fees assessed when you moved out. While it was billed as student living non-students could and did live there, my husband lived in the same complex just on the other side and below him were people in their 30s and 40s. I think the appeal back then might have been the all-utilities included.

What you mentioned is a con but it can also be a plus. If that roommate unexpectedly moves out the ones left (especially if it's just 1) has the reasonable means (at least on paper) to pay the rent at least temporarily. One of the advantages I found with the apartment I lived in with the individual leases was if one of the roommates moved out it didn't impact me whatsoever. I never had stress about someone not paying or me being suddenly it a situation where I would be behind on rent because the person chipped in left or worse they were the ones who had been the one to pay after collecting the funds from everyone else. I actually did have a roommate that after being kicked out of school for semester due to academic probation ended up moving a few hours away to be with her boyfriend only coming back every so often. She rarely contacted us either so we had no idea when she would be coming back.

There are def. pros to pooling together resources to live together, it's very normal and standard but there is a side of cons too both from the landlord and the tenant.

 

[mjkacmom]

See, my DD and her boyfriend didn't have any trouble finding a nice rental. However, they live in a city with many 2-family houses--maybe that's why they had a lot of choices? Her previous rental was also a 2-family house. It's very common in the Boston area. Around here, most of the rentals are either in apartment complexes and/or around the college.

My daughter had no issue finding a sublease for two in Boston this summer, and has another 4 bedroom apartment ready in September. The one she is in now was sight unseen, moved in the day after college graduation. If you are looking in a college town it’s easy, so far my kids have lived in 8 different rentals as students.

 

[mjkacmom]

I don't remember what the qualifications were without a co-signer only remember that I qualified for it without one but the apartment I lived in the college town where my alma mater was at when I was a junior and senior was a rent by the room, all the leases were individual leases so the rule about whether you needed a co-signer or not was based on the individual rather than collectively. It was a unique apartment complex though, to my knowledge being the only one at that time (and may still be) in the college town to do have individual leases like that but at that time all utilities were included with exception to a cap on the electricity where overages were split automatically in the bills by however many roommates were living there as well any fees assessed when you moved out. While it was billed as student living non-students could and did live there, my husband lived in the same complex just on the other side and below him were people in their 30s and 40s. I think the appeal back then might have been the all-utilities included.

What you mentioned is a con but it can also be a plus. If that roommate unexpectedly moves out the ones left (especially if it's just 1) has the reasonable means (at least on paper) to pay the rent at least temporarily. One of the advantages I found with the apartment I lived in with the individual leases was if one of the roommates moved out it didn't impact me whatsoever. I never had stress about someone not paying or me being suddenly it a situation where I would be behind on rent because the person chipped in left or worse they were the ones who had been the one to pay after collecting the funds from everyone else. I actually did have a roommate that after being kicked out of school for semester due to academic probation ended up moving a few hours away to be with her boyfriend only coming back every so often. She rarely contacted us either so we had no idea when she would be coming back.

There are def. pros to pooling together resources to live together, it's very normal and standard but there is a side of cons too both from the landlord and the tenant.

My kids have had both types of leases. Unfortunately dd19 had 2 groups of 3 girls sign leases for 2 3 bedroom apartments next to each other, one girl transferred, they found a replacement but while waiting on a co-signer, another girl signed a lease first (same day). She’s a d1 runner, and my daughter and her friends, while varsity athletes in high school, are more about the barroom Olympics in college.

 

[BroadwayHermione5]

For those of you who have adult children living at home, to save on costs, I'm curious: are roommates not an option? My DD27 has always had 2-3 roommates--down to one now, she moved in with What's-his-name. My BFF has 5 kids--the three that live near her are renting a house together a town over. I realize that, for some people, living in the childhood home is nicer, you know the people, etc. But it seems like it's not even considered as an option. When he was first out of college, DH rented a 4BR house with 3 other people--not only did he have his own room, but there was laundry facilities, a full, finished basement with a bar and pool table, a nice yard, etc., in addition to the living room, dining room, full kitchen, etc.

Again, I'm just curious, not criticizing the choices of others. It seems to me like it would be a good compromise--saving on rent, while still living independently.

It depends on the area- plus unfortunately some cities are starting to create laws that don't allow for roommates unless family or significant others.

 

[kymom99]

P

It depends on the area- plus unfortunately some cities are starting to create laws that don't allow for roommates unless family or significant others.

what?

 

[aprilgail]

My daughter is 22- still have her room in my house for when she comes visit and god forbid something happens and she ever has to move back home. I gave her some spending money her first 2 years at college- the 3rd and 4th she was pretty independent and didn't need me to really help her. Once she graduated she and her boyfriend rented a house for a year and I am so proud of them both as they have just purchased their first home - 4 bedrooms 3 bathrooms and has a 1 bedroom apartment on the bottom floor (its a split level) which they are renting out and it covers about half their mortgage. I always thought she would have to come home after college until she got job and on her feet but she got a job lined up before she even graduated so it all happened quick! She stays on my health insurance until she is 26 though because it is free and top of the line insurance, she would have to pay for it through her job and it is not as good.

 

[BroadwayHermione5]

P

what?

Yep.

Happened a couple of months ago


https://www.businessinsider.com/kan...e City Council, The Kansas City Star reported.

 

[kdonnel]

P

what?

They are often called brothel laws because they are often passed under the guise of preventing brothels.

In reality it is usually a way to slow or stop student housing in areas around colleges.

 

[Mackenzie Click-Mickelson]

They are often called brothel laws because they are often passed under the guise of preventing brothels.

In reality it is usually a way to slow or stop student housing in areas around colleges.

I live in that area(grew up in that city) and no you're not at all correct on this one. The area is not a college town by any means.

 

[kdonnel]

I live in that area(grew up in that city) and no you're not at all correct on this one. The area is not a college town by any means.

I said usually.

I was speaking of instances I know of that long predate the one posted. I have no idea the motive for the one in Kansas.

Cobb county GA has had a "brothel" law for a long time, a decade or more.

So old here is a story from when AOL was relevant.
https://www.aol.com/on/students-cobb-county-housing-code/

While at this point it seems unlikely to have an impact on the Acworth case, in April 2013, a judge in Louisiana found a similar ordinance restricting unrelated people from renting together in areas zoned A-1 residential -- for single families -- to be unconstitutional and unenforceable. The lawsuit was brought against the city-parish of Baton Rouge by a lawyer and Realtor who argued that it unfairly targets college students, young people and non-traditional families.

It would seem parts of Louisiana had/has similar laws that date back a long time as well.

 

[BroadwayHermione5]

I live in that area(grew up in that city) and no you're not at all correct on this one. The area is not a college town by any means.

I was about to say I recall when this happened initially people wondered if it was a college town and its not.

 

[Mackenzie Click-Mickelson]

Yep.

Happened a couple of months ago


https://www.businessinsider.com/kansas-city-unanimously-ban-co-living-rental-units-roommates-illegal-2022-5#:~:text=A city in Kansas has banned co-living, effectively,the City Council, The Kansas City Star reported.

Yeah that one came under fire. To understand how and why you'd have to understand the county. In our county mixed dwellings is highly frowned upon, in fact in some areas you cannot have duplexes next to single family homes next to apartments.

Affordable housing is a big battleground here but we also have a very strong NIMBY too. People want to preserve suburbia and that has its merits, it's the primary reason for the ruling. In the area there's no shortage of apartment complexes seems like a new one is going up everyday. The issue for that is the apartments built are on the higher end level so affordable is well harder to come by.

In my neighborhood the HOA does allow for a house to be rented out but it can't be less than 6 months. There was a house however that got so many complaints because the tenants were not caring for the property, were being very disruptive, disregarding the rules, etc. We lived in a rental house before getting our home, we abided by the HOA rules within it, but unfortunately not everyone does.

So the main concern for the council was high transiency in what many would like to stay a stable area. ETA: among the reason of turning single family homes into multi-units. Like for instance I have a 5 bedroom house, imagine renting all the bedrooms out, times that by many other homes.

I was about to say I recall when this happened initially people wondered if it was a college town and its not.

Yeah in this case it's not really about college students because for the most part the only college near there is the Community College which is located in another city. City lines don't really matter much here though because we all cross them all the time. But the issue at hand wasn't about punitive action towards poor college students.

 

[Moliphino]

For those of you who have adult children living at home, to save on costs, I'm curious: are roommates not an option? My DD27 has always had 2-3 roommates--down to one now, she moved in with What's-his-name. My BFF has 5 kids--the three that live near her are renting a house together a town over. I realize that, for some people, living in the childhood home is nicer, you know the people, etc. But it seems like it's not even considered as an option. When he was first out of college, DH rented a 4BR house with 3 other people--not only did he have his own room, but there was laundry facilities, a full, finished basement with a bar and pool table, a nice yard, etc., in addition to the living room, dining room, full kitchen, etc.

Again, I'm just curious, not criticizing the choices of others. It seems to me like it would be a good compromise--saving on rent, while still living independently.

My parents let me live with them rent free, so I was able to save much more that way. They liked having my sister and me around, too. I actually carpooled with my dad to work for years, as we both commuted to the same area.

 

[kdonnel]

I was about to say I recall when this happened initially people wondered if it was a college town and its not.

Another common reason is a desire by racist government officials to keep a community homogeneous. A horrible way the government legalizes discrimination against non traditional families, immigrants, or others that live in blended households.

 

[barkley]

In this house, our excitement wasn't over the salary when the kids got a new job, but if it included medical insurance.

weighing out employer sponsored/subsidized benefits vs. strictly pay was a discussion we had with our oldest when college graduation was nearing. looking at the dollar value of a free benefit as well as a lower cost benefit (both untaxed) can make a tremendous difference financially. our oldest opted to take the seemingly lower paying job with better benefits that was available at the time and is now realizing (esp. with the current inflationary trends) just how much more their 'pay' is by virtue of a full meal per work shift being provided LET ALONE full low deductible/co-pay medical, dental and vision at (hold on, you won't believe this-i initially thought it was a typo in the benefits package paperwork) $60 per month employee share of cost . this is a kid who had to have surgery this year that totaled around $60K with all the pre and post op stuff yet only ended up paying about $1500 out of pocket (including all scrips, lab work...). compensation in the form of benefits can tip the scale towards one employer over another tremendously.

We just switched our homeowner's insurance company on our house for our September renewal because Progressive across the board took a big hike. Our present coverage is $480K, Progressive increased that to $538K for September and on. This new company we're with has our house insured at $690K and you know what? That's probably more in line considering the house across the street from us was listed on the builder's website previously for $716K and is quite similar to our house

so smart to get additional coverage! we were already eyeballing this before our last renewal b/c we knew how much people were paying to get certain repairs and renovations done in our area so we upped our coverage as much as we could. the value of this has been seared into our brains by virtue of friends who lost in whole and part homes and structures due to wildfires-they thought they had sufficient coverage but the rising cost of construction had them grossly underinsured. even those who seemingly had sufficient coverage are finding that entirely new construction can be less expensive than restoration and repair of existing-costs less for plumbing and electrical to be put in new construction vs. having to demolish and then reconstruct existing walls and subfloors just to get to the areas that need the electrical and plumbing. the cost of just the demolition and disposal is staggering.