jayatl56 saidHmmm. We've been together for 3 years. He moved in about a year ago because he's not finished with school and couldn't afford rent elsewhere. The condo where we're living currently is 100% mine - no mortgage and he pays almost nothing in rent but does cover some groceries and buys lunches/dinners whenever we go out. BUT I just bought another place and will have a mortgage and A LOT of remodeling costs are being sunk into it. Again, all mine. I haven't asked for anything because I think it just complicates things but I have asked for a 50/50 split of all expenses (mortgage, taxes, insurance and HOA and utilities) once we're moved in. I think that's fair.
Your 59, and he's still in school. Can we assume there is a vast difference in earnings , as well as age? What you are proposing really isn't "fair."
How much he might contribute to your joint expenses after he is out of school, employed, and earning, is something you ought to discuss at that time. Since it its your
property, you ought to bear all the expenses of it. If you want him to contribute something in the way of rent, it should be based on what he can afford., which will undoubtedly increase as his earnings increase. Sounds like you don't want to be a complete sugar daddy, so talk to him about contributing toward normal, non-property, expenses - like food, water, garbage, utilities, and pet expenses.
When you become joint owners of the property (which may never happen), is when he should be making full contribution to property carrying costs. In the meantime, as you said, it is your
property, not the two of yours jointly. In the meantime, if you consider yourself in a marriage, or potential marriage, think of the household as a mini Marxist state: From each according to his means; to each according to his needs.