Triplex - Joint Property with my brother - 50/50 Investment - I am moving out

You're ignoring the fact that your brother derives value from living in the apartment. Fair to me in your situation would be:

• Split costs as before
• Split rent on the one unit as before.
• And you get the majority of the rent on one of the units, as you used to get that value by living there. I'd say it's less than 100% of the unit's rent because it's likely that your brother will be doing more work as an onsite landlord. But then maybe his use of utilities equals it out -- tough to say exactly.

Another way to look at this is decide what a "fair" rent for the unit your brother is in. Then have your brother pay that into a rental pool that you both split equally.

Using your numbers, assuming the units are equal[*]: $2400/mo on two units, means the total rental value for each unit is $1200 or $1200*3 = $3600 from the whole building.

You then split the $3600 in rent ($1200 from your brother + $2400 from other tenants,) so you each receive $3600/2 = $1800. You each then pay $1050 out of that rental income for your costs, each receiving $1800 - $1050 = $750.

That means you get $750, and your brother does too. Effectively he gets to live in a $1200 apartment for only $450/mo.

Or as I said, perhaps you take into account that there are services rendered by your brother living onsite, so you split the rental income so he gets $2000 and you get $1600. Then he gets to live in his $1200 apartment for $250/mo and you get $550/mo.

And next time you go into a real estate share, discuss this in advance. :)

_{*I assume they're not quite equal if your brother is going to move into your unit, and perhaps you take that into consideration in the split}