Op your math is not correct.
50 x50 is 2500 but there are 4 weeks typically per month.
50x50 x 4 is 10,000 I doubt this is what you meant.,

Live in nannies make between 10-15 per hr typically

Anonymous wrote:New to the forum, but I've searched around and couldn't really find relevant discussion.

Live in DC. I have a incredibly nice 2 BR garage apartment (850 SF, separate entrance, lots of windows looking over back yard in a leafy neighborhood) that I've been renting out for $2500/month here in DC. We are about to have a child and would prefer a live in Nanny situation, both as a convenience to ourselves but also as a perk to the Nanny. We were looking for 50 hours a week, weekends off, no house chores (cooking, cleaning etc) involved. We are of course offering 3 weeks of PTO and health insurance.

Now granted, we just started our search and only interviewed two prospective nannies who are looking for a live in situation, but both were still demanding anywhere from $18-20/hr on top of the free apartment and that just seems pretty high to me considering we are covering her largest life expense and giving her a separate roof valued at $2,500 a month. Spread over the 50 hours we are wanting, that "perk" as I see it is already worth about $50 an hour (or costing me $50 an hour to give it to a Nanny). All in the free apt, the hourly pay, vacation and etc would total out to about ~$80/hr.

Yeah, yeah...think of the kids. I get it, you don't want some unqualified hack taking care of your kids, but for an all in cost of ~$80 an hour, I would think I could get Mary Poppins...magic umbrella and all.

Is this what the DC market demands? Is this truly what a good nanny costs or am I getting the "NW DC" price quote?

First, your math is way off on the "value" of the apartment. $2500 x 12 months a year = $30,000 and 50 hours a week x 52 weeks a year = 2600 hours a year That means if you want to assign an hourly value to the housing, you are looking at $11.54/hour, not $50/hour.

That said, I would think you have 2 options. First, accept that no one you'd want to hire is going to take $11.50/hour off their rate. Then consider whether the bonus of having a LI who may NEVER be willing to work additional hours for you spur of the moment just because she lives right next to you is worth the loss on the rent you currently get. I think the absolute most a good, smart, savvy nanny might accept as a housing deduction would be $4/hour MAX. That still leaves you paying $14 or so an hour, or ~$700/week. So you lose 30K in rental income and add 37 - 38K in nanny wages plus your employer costs...I'm not an accountant, but I think that means you'd be 70K or more in the red each year because you have a LI nanny who may never be willing to be a "convenience" to you.

Your second option is to hire a LO nanny, pay her $18/hour plus OT, and find 2 responsible college students or young college graduates who can afford a reduced rent in exchange for being available for 5 hours each a week of short notice babysitting. You'd want to be sure to either give them 24 - 48 hours notice of your need for a sitter or actually pay them a small stipend if you literally cal and ask them to be over to babysit in 10 minutes. The sitting time would be "use it or lose it", and you'd likely still be in the red, but not 70 worth. 1K to nanny, $150 for employer costs each week, 2K in rent plus 40+ hours of sitting each month - about 40K in the red.

Anonymous wrote:"Would you like to live at your job site, OP?"

Well, if they were providing a nice apartment an 8 minute walk from the metro, leafy yard with a patio, grill and a swimming pool while also taking care of my largest monthly expense, then yes, you bet your rear end I would like to live at my job.

Why else are their live in Nanny's? My advertisement clearly indicated this was a live in Nanny position. If you don't want to live there, then don't apply but lets not pretend that with the cost of DC living, that not having to pay for living expenses isn't a huge financial "pro" for anyone living within a ~30 mile radius of downtown.

From what I've read here it clearly isn't worth it to me. It will cost me tens of thousands a year less for the same quality Nanny, just to pay someone 18-20/hr and just use them for a few more hours a week.

I was young once and didn't make much money. I know what it is like, it just floors me that in such an expensive place to live as DC, having your living expenses taken care of is of such a low value proposition for someone. I don't want to come off as "judgey" but if Nanny was the height of my career progression, I would think it would be pretty valuable. My mistake.

You are thinking of you, someone who aspires to a life where they could afford a $2500/mo apt, eat at expensive restaurants, travel, etc..

That said, if you present the job in terms of weekly pay + benefits, you will probably find more candidates, particularly if you are open to someone married or with a child, for whom an apartment of her own would be a necessity.

"Would you like to live at your job site, OP?"

Well, if they were providing a nice apartment an 8 minute walk from the metro, leafy yard with a patio, grill and a swimming pool while also taking care of my largest monthly expense, then yes, you bet your rear end I would like to live at my job.

Why else are their live in Nanny's? My advertisement clearly indicated this was a live in Nanny position. If you don't want to live there, then don't apply but lets not pretend that with the cost of DC living, that not having to pay for living expenses isn't a huge financial "pro" for anyone living within a ~30 mile radius of downtown.

From what I've read here it clearly isn't worth it to me. It will cost me tens of thousands a year less for the same quality Nanny, just to pay someone 18-20/hr and just use them for a few more hours a week.

I was young once and didn't make much money. I know what it is like, it just floors me that in such an expensive place to live as DC, having your living expenses taken care of is of such a low value proposition for someone. I don't want to come off as "judgey" but if Nanny was the height of my career progression, I would think it would be pretty valuable. My mistake.

I'm an MB, with a former nanny who would be thrilled with this opportunity and be happy (I think) with $14/hr as her base (and 10 hours at overtime rates of course.)

She might even do it for a bit less but that would depend on her sense of fit with you, interest in the neighborhood, etc...

But you will definitely find someone OP.

Would you like to live at your job site, OP?

In general, $18-20/hr is what live-out nannies make. OP you would be seriously over paying PLUS you'll spend extra on costs associated w/a live-in (food, cable, utilities, etc.). You can find a very good live-out nanny for that much.

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

No, you aren't getting it. Nanny may not choose to live in DC and choose to commute in. Or, have a roommate. The value you place on your apartment is different than someone else might choose. Also, what do you define as food? Are you giving her a few hundred a month ($300+) so she can choose her own food or do you expect her to eat what is provided? Most people want the freedom to grocery shop and choose their own food. Not everyone cares about cable - you may have it and offer it but many people don't have cable and use netflix or hulu plus or other service that is much cheaper.

Offer a fair wage and cover the wage by continuing to rent out the apartment. Also, not everyone will be ok living above you garage - I would not want the fumes from the car or the noise of you opening/closing it constantly.

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

Nannies are not really looking for 2BR, even if you have it. It's like forcing the nanny to spend extra money on a 2 bedroom apartment that she doesn't want to get after you've paid her.

Maybe you can have the nanny sublet the other bedroom for extra income.

It seems like it would get complicated though, particularly if the room is vacant, etc. It might be more of a headache for the nanny.

I actually think you should get live out and continue to rent it out for the best solution. Possibly someone who loves kids and may take a babysitting gig for an afternoon here or there would be best. Then get a live out nanny.

You probably won't be able to get a nanny who takes room and board and then work for believe minimum wage or anything like that. If you do, they won't be legal probably and not make great nannies (actively engaged, etc.)

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

Nanny here.

I don't live-in, but I had a few friends (Potomac area) who were college students and were renting a room/basement in exchange of 15 hours of babysitting.
So you could deduct 15 hours (or so) from the hours you need in exchange for a basement apartment and pay for the rest of the hours and the rate you both agree on.

$14 an hour sounds more reasonable. Live in is you choice and not attractive to everyone, especially given it is a temporary situation for them. I agree, its not fair to calculate in $2500 a month as in less the nanny has a partner or family money, no way they are going to live in that costly of a unit. If anything it is for your connivence, not theirs.

I think the reality lies somewhere in between.

You can't directly consider the cost of a pricey apartment in a nanny's compensation package. Otherwise, she'd owe you money! The reality is, someone making $1000 or so a week wouldn't be spending $2500/month on an aparement. So, while it's a great perk, there's a point at which a nice live in situation doesn't lower the cost of a live-in nanny, it only allows you to attract a better one.

On the other hand, what you are quoted sounds like live-out rates. You need someone who actually wants to live-in and is comparing live-in positions. Not someone who considers it neutral, or even a drawback.

It will definitely make the most sense, fincancially, to continue to rent out the apartment and pay top dollar to a quality live out nanny. If, however, you are getting other intangible benefits from a live-in, and would prefer that, consider that a perk back to you. Live-in rates, in generally, shouldn't be more than 2-4$ (tops) less than what you would pay a live out nanny.

New to the forum, but I've searched around and couldn't really find relevant discussion.

Live in DC. I have a incredibly nice 2 BR garage apartment (850 SF, separate entrance, lots of windows looking over back yard in a leafy neighborhood) that I've been renting out for $2500/month here in DC. We are about to have a child and would prefer a live in Nanny situation, both as a convenience to ourselves but also as a perk to the Nanny. We were looking for 50 hours a week, weekends off, no house chores (cooking, cleaning etc) involved. We are of course offering 3 weeks of PTO and health insurance.

Now granted, we just started our search and only interviewed two prospective nannies who are looking for a live in situation, but both were still demanding anywhere from $18-20/hr on top of the free apartment and that just seems pretty high to me considering we are covering her largest life expense and giving her a separate roof valued at $2,500 a month. Spread over the 50 hours we are wanting, that "perk" as I see it is already worth about $50 an hour (or costing me $50 an hour to give it to a Nanny). All in the free apt, the hourly pay, vacation and etc would total out to about ~$80/hr.

Yeah, yeah...think of the kids. I get it, you don't want some unqualified hack taking care of your kids, but for an all in cost of ~$80 an hour, I would think I could get Mary Poppins...magic umbrella and all.

Is this what the DC market demands? Is this truly what a good nanny costs or am I getting the "NW DC" price quote?