A Quick Guide on How to Split Rent With Your Roommates

Must Read

Are you a roommate finder? Roomies come in many forms and sizes, as do the rentals they share. And, while the notion of dividing rent may seem straightforward in principle, there is no one-size-fits-all solution that will work for every living situation. In fact, issues may occur in less direct living situations, such as having different-sized rooms, renting with a pair, having one person use specific facilities more than the other, and so on.

Whether it’s more convenient for your budget or you like to live with others, it is critical to determine how to share rent with your roomie. So, to help you out, we’ve put up a simple guide on sharing rent. Continue reading to discover more about your alternatives! Then, decide which one is best for you and your bunkmate.

Divide into amenities/features

It is sometimes all about renting resources and who gets to utilize them. While common spaces such as the living room and kitchen include facilities that are often shared by everyone in the house, certain apartment features are used more frequently by some than others. En suite baths or walk-in closets, for example, might be luxuries that must be covered by whoever is lucky enough to obtain them.

This can also be used for some community features. For example, if you share a pet-friendly apartment and a monthly cost for dog park upkeep, whoever owns the pet should pay it. Alternatively, if there is only one parking place per rental, the most frequent person who uses it should bear the fee.

Discuss with your housemates how useful additional bonuses are for everyone. For example, perhaps someone genuinely wants that wonderful view room and is prepared to pay for it.

Divide according to room size/private square feet

When living with roommates, one of the most significant concerns is: who gets the master bedroom? Size of the bedrooms varies, which is why splitting rent by how much private space each individual receives often appears impartial to roommates involved.

Suppose you’re sharing a room with friends. In that case, you may make a fast estimate and round up some figures until everyone is satisfied. Alternatively, to estimate how much each roommate must pay depending on the size of their bedroom, measure the square footage of each roomie’s private area (bedroom, private balcony, closet space and bathroom).

Then, divide that figure by the entire square footage in the flat to get the proportion of private space occupied by each occupant, then multiply that figure by the total cost of rent. This way, you’ll know exactly how much everyone has to contribute. This strategy also works if you’re sharing a property with a pair, someone you’re not necessarily friends with or strangers you meet on bunkmate-finding websites.

Divide equally

When living with roommates, it is common to divide rent and utilities equally. This suggests that each renter’s space is shared. Utility expenses are paid evenly, and common areas are used by all parties.

Rent can be split evenly as long as the rooms are equal in size and the facilities around the apartment complex compensate for another unit characteristic. For example, if you receive the larger closet but your roomie gets a king-sized bed, you may elect to split the difference. However, consider that discussion among roomies is essential when selecting how to share expenditures. Therefore, don’t presume that your roomie will agree with your reasoning when calculating the maths.

Divide according to income

This arrangement is more common among duos or family members, and roommate finders. However, it may also work when not every roomie can pay the same amount as others. Fortunately, there are other methods to divide rent based on the financial resources of individuals involved, as long as everyone agrees. For example, individuals with limited income might pay a portion of the rent depending on their monthly payment, cover only the utility expenses, or otherwise reimburse their housemates by the roommate agreement.

The roommate agreement is your best buddy

Remember to put everything you decide with your housemates in writing when it comes to roommate agreements.

Living with roommates has benefits and drawbacks, but a signed flatmate agreement might help you avoid the disadvantages. A legally enforceable contract, in particular, may assist lay the ground rules for living together and describing obligations and guidelines for having visitors over. It may even take note of everyone’s personal peeves and requirements, making a living together easier for everyone.

The most critical aspect of a roommate agreement is that it addresses rent, utilities and a breakdown of monthly spending for monitoring reasons.

When in doubt, consult a rental calculator

Calculating the precise amount of rent that everyone must contribute monthly may be simpler than you think. There are also an excess of rent split calculators available to assist. Rent-calculators are especially useful when you and your roommates can’t agree fairly to share rent. For example, some divide rent based on square footage, while others split rent based on the facility utilization and house. Still, others assist you in making a decision depending on everyone’s income. Some will even go out of their way to help you split additional expenditures, such as combined supermarket excursions, utilities, or home products that you wind up purchasing together.

When living with roommates, figuring out how to share rent is critical. Rent conflicts are the worst thing that can happen in a bunkmate scenario, so getting everyone on the same page from the start is preferable. So, before you go, share these tips with your selected roomie and make sure you discuss rent sharing before you move in.

Inquire whether the landlord has an online payment system

Some landlords provide online payment systems where each tenant may pay their portion of the rent. Other platforms like Rentberry, if you are moving to London, UK, allow you to search for apartments for rent and complete all of the necessary paperwork, including virtual tours, pricing negotiations, and payments online. This is more convenient because no one needs to deal with manual checks or the mail. 

Latest News

Shine Always, Shine Everywhere: How To Choose LED Car Lights

We will have to make a small, but a little sad introduction. Fortunately or unfortunately, the traffic police looks...

More Articles Like This