Fair Pay Considering Nanny is Live in and her Housing Expenses are covered?

[Anonymous]

I have never reduced my regular rates to accept a live-in job. Never.

[Anonymous]

You're better off continuing to rent it out. A nanny is going to place a max value on a live-in apartment at maybe $800/mo, meaning you are going to lose out on the full value of the apartment. There aren't many good nannies available who will go below $12/hr, even for a live-in position.

If you offer $16-$18/hour live-out, you will get a better pool of available qualified nannies. Use your $28K/yr in rent to help pay your nanny.

[Anonymous]

How much do you want to pay a LI OP?

[Anonymous]

Probably more cost effect to just continue rent it out.

I'm a "NW DC" live-in nanny living in the basement apartment, separate entrance, cable TV, groceries included, set hours (50/week) and making $25/hr.

[Anonymous]

Anonymous wrote:Probably more cost effect to just continue rent it out.

I'm a "NW DC" live-in nanny living in the basement apartment, separate entrance, cable TV, groceries included, set hours (50/week) and making $25/hr.

Good that you're NOT another nanny being taken advantage of. Others should learn from you.

[Anonymous]

DC rates for one kid are $15-16 per hour, live-out. You can back out the market rent if you want, otherwise given the $2500 rental income it very likely makes the most sense to have a LIVE OUT nanny and continue to rent out your 2BR at market rates.

[Anonymous]

Anonymous wrote:The $18-20 you were getting quoted on top of room and board is too high. That's the cost for live out.

This. Live in rates for a single child with the compensation you are offering are more in the $13-14/hr range.

[Anonymous]

If you want to get "market rate" for your 2BR, continue renting it out. As a nanny I paid $845 in rent per month. I did not purchase cable or any luxuries. It would have been better for me to work for you as a live out nanny than a live in. You cannot consider the maximum rental price for your property as a deduction from a nanny's normal rates.

[Anonymous]

What were you hoping to pay per hour for a live in?

[Anonymous]

Here's how I would do the math. I think $20/hr is sort of a basic market rate in DC for 1 kid (give or take $5/hr depending on nanny, apparently). The general wise financial advice is not to pay more than 1/3 of your income on housing. So if you figure a $20/hr live out nanny is paying something like $6 of that hourly wage to her rent, then $14/hr for live-in sound pretty much right. Of course, economics being what they are, some people will value this benefit at more than $300/wk and some will value it less than $300/wk. I would think a young type nanny would be more psyched about the pied a terre in the city --- have you looked at sittercity.com?
Of course, IMHO, often the grandma type nannies are better with the babies -- they are going to be less psyched about your basement apartment.

[Anonymous]

Anonymous wrote:Here's how I would do the math. I think $20/hr is sort of a basic market rate in DC for 1 kid (give or take $5/hr depending on nanny, apparently). The general wise financial advice is not to pay more than 1/3 of your income on housing. So if you figure a $20/hr live out nanny is paying something like $6 of that hourly wage to her rent, then $14/hr for live-in sound pretty much right. Of course, economics being what they are, some people will value this benefit at more than $300/wk and some will value it less than $300/wk. I would think a young type nanny would be more psyched about the pied a terre in the city --- have you looked at sittercity.com?
Of course, IMHO, often the grandma type nannies are better with the babies -- they are going to be less psyched about your basement apartment.

Sounds about right to me

[Anonymous]

Anonymous wrote:True, I get that to a certain extent but it would simply make much more sense for me to continue to rent out the apartment and just pay more for a live out Nanny as you said.

I do have to disagree that a live in situation is only worth ~$4 less an hour. At the 50 hours a week (200 hours a month) I am requiring her services, you are saying that cost benefit of having her roof, utilities, catv (and food) etc, provided is only worth $800 a month to the Nanny.

While not every Nanny may live in a ~$2,500 apt, you aren't going to find a early 30's woman (or older) living in an apt in DC where her rent, utilities etc only cost her $800 a month.

Thanks for the input

With your attitude, it won't matter. You will never be able to keep a decent nanny.

[Anonymous]

Anonymous wrote:What were you hoping to pay per hour for a live in?

Probably she is planning on paying nothing as she is giving the nanny this penthouse equivalent.

[Anonymous]

Anonymous wrote:I have never reduced my regular rates to accept a live-in job. Never.

No reason why you should as "live in" helps the NF family more than it helps you.

[Anonymous]

I think you should hire a live-out nanny and continue renting the garage apt.

To offer a nanny a complete two-bedroom place may be a little too much for her. It wouldn't be fair to take off so much money for rent for such a big place for only one person. However, if you find someone who is a single parent, then they may appreciate the extra bedroom for their own child and may be willing to compromise some pay for a huge perk.

Would you consider this situation??