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[quote=nannydebsays][quote=Anonymous]live in rates (room and most food provided) are half of live out rates in most cities in the U.S. and elsewhere. [/quote]

Not really. Many LI nannies actually charge the same or more than a LO nanny for the same job because being a LI is fraught with issues such as being expected by employers to be "on call" 24/7. LI nannies have to be paid at the very least minimum wage for every single hour worked, and it would be almost impossible to find someone good to agree to minimum wage.

OP, you need to either rent out your basement apartment OR hire a LI nanny OR rent out the apartment AND hire a LO nanny. You can't try to make money off of your LI nanny. And your statement here:
[quote]...she won't have to commute and spend all that money on gas and will have no other house bills (gas, elec, cable, etc....) so we were thinking that seems really fair for both of us.
[/quote]

is a little short-sighted. How will nanny buy food to eat? Personal care products? Health Insurance? Car Insurance? Renters Insurance? Clothes? What about entertainment money? Cell Phone?

If nanny is working 30 hours a week for you, when does she get time to earn the $1000+ per month gross that she'd need to actually pay her bills?

If you want a LI nanny, start by fairly evaluating hours needed and a decent wage (care dot com has a nanny pay calculator), then take a bit off those numbers for room and board. The Au Pair program allows host parents to deduct 40% of the AP's wages for room and board, which I find to be insane. Actually, there may be IRS rules surrounding this issue that give you a specific number or percentage you may legally deduct![/quote]

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