If 2 people decide to invest in a house, but only 1 of them wants to live in the house, should the interest only monthly mortgage payments be:
- split 50/50,
- the person living there pays 100%
- the person living there pays 100% plus rent to the other owner
- the person living there pays 50% plus rent to the other owner
- or something else?
Basically, what would be standard to keep the shares equal, and which of the options would change share values?
EDIT- Further details:
Assume I move out, the house is on interest only mortgage payments, i.e. the mortgage is not being paid off, only the interest is being paid off. Assuming the mortgage is 600pm and the rent for the whole house is 700pm. If I moved out, does that mean I pay 300pm towards the mortgage, I receive 350pm for rent, and I don't pay any bills for the house as I am not living in there.