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I would be careful with this though. There can be problems.
1. You do need a contract. And I would set it so you would review the contract at minimum every 6 months but every 3 months would be better. As a person declines there level of care increases and the person you hire today might not be great in 6 months.
2. The person will have to have time off. As in Days off as well as not working 24 hours a day and they need to have a break.
3. I have heard of problems getting someone out of the house after they have set up "residency" you may even have to pay to have them evicted.
4. You will have to pay them proper wages and follow the tax rules. I would also make sure that you homeowners insurance covers the caregiver. And check about Workers Comp insurance.
All said and done you might want to look into an agency where they will take care of the schedule. If a caregiver is ill they will have a replacement rather than you caring for 2 people or trying to get someone else in to fill in. At least with an agency you will not have to worry about taxes, squatters (if someone decides they will not leave your house)you will not have to worry about homeowners insurance as much or workers comp. Yes it might cost a bit more but ya gotta weigh the pros and cons.
I hired 2 awesome caregivers through the local community college. They were waiting for the nursing program to start and they had just completed their CNA classes. They were the 2 best caregivers I hired over the course of 3 years. And I was able to pay them less than I would have paid an agency and they made more than if they worked for an agency. If you hired 4 people like that they could take the shifts and you would have 24 hours covered.