Is this fair?

No, not joint savings! He can take that out any time he wants, every single penny.

Tell the waster to pay £500 rent and the bills split or he can stay in his own place.
Ive had "poncing" men before, they know how to talk the talk

I’m talking about his asset.

If he owned the house outright, then rent - minus expenses would give profit. He’d still have an appreciating asset in the house (assuming our housing market continues to increase above inflation), but he isn’t using some of the income from the rent to buy the house itself.

Since he doesn’t own it outright, rent - expenses = profit + investment in the asset itself (i.e. the mortgage payments).

The other way to calculate it would be rent - expenses, but not include the mortgage payments in the expenses.

Otherwise, he could easily make the rental a net loss by increasing his mortgage payments. So OP would get less cash off him while he gets greater investment in his assets.

But so does his asset, that he doesn't need to live in as he's living with op

Rental income is taxable (there is an allowance if a basic rate taxpayer)
He will need a BTL mortgage (possibly some allowance from bank for a period) which will be on a higher rate. Hard to get a small mortgage as well.

I miss living alone.

Living with other people is always compromise, dealing with other people's mess/ noises/ breathing

Even when you love them dearly, sometimes you want the selfishness of wearing whatever you like (or nothing at all), playing your chosen music loudly and not bothering to clear up if you don't want to.

On the other hand it's lonely at times, and when you're ill there's no one to bring you drinks/check you're okay.

If I was in your position, I would only want someone moving in with me if they were making my life better in every way - including financially.

He pays you rent or he doesn’t move in…. He would pay for a roof over his head anywhere else

What about putting it into joint savings, so you both contribute a percentage that is fair based on your outgoings. Then use it for holidays, big purchases etc. if you break up, that's divided 50:50

Whatever you decide OP, I think you should see a solicitor and get a cohabitation agreement drawn up to protect you both.

Yes if you read above it was actually me that suggested that the profit element be split with you. My answers were to posters who seemed to believe he should just give you half the actual rent rather than profit.

I would say split all bills/food

Split the PROFIT from the rental 50:50

That's a head scratcher!
Considering you want to keep all finances separate and he not have have any ownership of your house at all, nor you his, I'd say dont take any rent.
You should be a bit better off anyway if he's splitting all the other bills with you.
If I was him though, living there rent or mortgage free, I'd feel like I was just staying in your house, rather than it being home.

You say you used to....

I very much suspect this was before the change in Electrical requirements and the requirement for the landlord to pay for all referencing and credit checks which used to be charged to tenants. Good for you that you managed to let out a property when it was less regulated and I suspect you could claim any mortgage interest payments against rental income to reduce the tax payable which you can no longer do.

You may as well say I did O levels but this is how you should do your gcse.

Yes so you are not in the UK and do not have the same legal obligations to fulfill. You are not complying like for like. The full rent is taxable here if he already has a taxable income. There isn't a non taxable property amount per se for a tenancy.

No he didn't. He didn't need landlord's insurance or gas or electrical certification for his own residential property or an EPC . Again this just proves how little people who are not landlords know about what other expenses landlords are liable for.

It doesn’t cost 1k a month for repairs, agency fees etc. I used to rent out a flat as a BTL and probably only made £650 a month after the mortgage was paid. I paid around £100 in agency fees (around 10 percent of the rental price) and most months I had no expenses. If a LL wasn’t going to make a decent profit they wouldn’t bother would they? A lot of landlords try to make out that they’re doing a stressful job. I can assure you all that they’re mostly doing absolutely nothing except for answering the occasional phone call from the agent and waiting for the rental money to arrive in their bank account.

It does not cost £1000 to get new tenants. Depending on your area, you just lose money while the property isn’t occupied. That’s only a week in many areas.

Work out his net gain (factoring in his paying of half the bills). Then split the gain. So he pays half that amount to you as "rent" and he benefits from the other half.

Otherwise he's literally making money out of you by living in your accommodation for free. He might say "it's not costing you extra" but the point is that it's allowing him to decrease his living costs (i assume, unless the rent he receives is the same as his mortgage payments).

@TheSnowyOwl. I must be a miracle worker so as I rent out a property without any addictional cost and I'm fully compliant.

My insurance costs me no extra. My electric check, boiler service/chimney/repair service is the exact same price. I also keep the rental under the taxable amount but understand it may be different in the UK.

It’s a different type of gas safety check when you are renting, few people have an electrican round every year to check for safety, insurance will be higher as it’s rented, often the mortgage terms change and aren’t as beneficial, he will need to buy a EPC, the agency fees will be new, the fees for a tenant to be credit/referenced checked will be new. Usually when you live somewhere you can do your own repair or leave something for a bit, instead of paying more for a contractor to do the work because it’s rented. He won’t have had the tax to pay on the rental income before, if he has any sense he will have further instance to cover rental payments not being made (also new). He might need to make a number of changes to his property because whilst it is fine to sell, it is won’t be to rent (eg to comply with rental fire regulations etc). There are masses of extra outgoings when you rent.

If this is how you feel you should stay living apart. You should only move in with someone when you really want to be with them all the time. Your approach means it’s destined to failure before it gets off the ground, plus he’s trying to make money off you. Terrible combination of factors.

This, the savings should be of mutual benefit