Is OP sure she could get $2k a month? Just doing a quick search on a rental site I'm seeing several 1 bedroom 1 bath apartments (bedroom is completely separate from living area and kitchen includes a stove/oven, etc.) in the $1300-1500 range. |
It is illegal to withhold more than $135/week for room and board from the wages of a live in nanny.
If you have a steady income with using your basement area as an air bnb, stick with that and use part of that money to pay a living wage ($25-30 per hour) to a live OUT nanny. If you need a set schedule and know other moms seeking care during the time you don’t need a nanny, it’s a great idea to try to create a full time position. You might also find a nanny who is only looking for part time hours. Good luck in your search! |
If you rented that room out 365 days a year you’d earn $43,435. And you want to give that potential income up?
Keep renting out the room. Hire a live out nanny for $750/week. Use any rent money to pay the nanny. |
I’m a live-in nanny. I can make small, nutritious meals for myself using an electric skillet, ninja blender and convection oven. I don’t always have access to a family’s kitchen during my off hours. However, if the family isn’t willing to provide those three appliances with a dorm-sized fridge, then I expect access to the kitchen to not be restricted at all. I know how to cook with a microwave, but I refer to avoid microwaving (especially in plastic). |
The room is really cute and I will definitely recommend it to people because you received good reviews too. You've probably taken a hit with covid but that's everyone right now.
It is more of a short term dorm style place though and other than a student, you'd be pressed for long term guest unless they're are extremely housing insecure. You should up the pay to at least the legal minimum for live in or $25+ for live out and decide what you want. Some of the school specific tutors make $40/hour. Don't take advantage of someone's desperation either. $600/month is not much to live on with cell phone & metro costs alone. You nanny would qualify for SNAP and free medical living with you. Think about that. |
Haven't rented in awhile but a quick search shows I can do better without an extensive search than 2K in a one bedroom with a stove and parking even if utilities aren't included.
Rent high/pay low ??? |