When your grown-up child moves back home, it’s best to draw up a contract to outline expectations and financial agreements. Some families draw up formal paperwork, others use a rental contract simply as a guideline for discussion. Here’s a sample rental contract to get you started. For more help, check out this guide to Everything You Need to Know When Grown Kids Move Home.
Set a time limit and a goal: This agreement runs from June 15, when (name) moves home, until (date), when he will have saved enough money to get an apartment of his own, i.e., first and last month’s rent and a security deposit. The date is a critical element. It provides urgency and incentive.
Rent: Beginning with his second monthly paycheck, (name) will pay $200 (or whatever rental amount) a month to cover rent and food.
Utilities: Beginning with his second monthly paycheck, (name) will pay 25% (or whatever percentage you agree on) of the utilities, including water, gas, electrical and cable.
Cooking, laundry and chores: Roommates contribute to a household with more than mere cash; they share in the labor necessary for a smoothly running home. So: (Name) will mow the lawn on Saturday, grocery shop on Sunday using the family shopping list, and cook dinner on Mondays and Wednesdays. He is responsible for the purchase, laundering and maintenance of his own clothing and any personal items.
- Guests and quiet hours: Household quiet hours run from midnight to 6 a.m., unless otherwise arranged. No overnight guests without prior arrangement.