Roommates often decide it makes sense to split utilities like electricity, water, and entertainment everyone uses equally, like cable bills. For example, should all roommates split utilities equally? What about groceries, transportation, other regular costs that you incur each month, or extras like streaming services? Next, you all need to decide which expenses you’ll share and which costs each renter will shoulder alone. Step 3: Figure out which bills you’ll share These are popular methods, but you can decide which one makes the most sense for your situation. That is an option if you want to ensure that everyone pays their fair share. You can also use an online calculator to help you split the rent. This arrangement often works well for couples who are living together. Each person takes turns paying the entire rent amount every other month. For example, what if the rent is $900 per month and Person A has a bedroom twice the size of Person B’s bedroom? Person A would pay $600 per month in rent while Person B would pay $300. Rent is split based on the size of each person’s bedroom. For example, what if the monthly rent is $1,350, Person A makes $60,000 per year, and Person B makes $30,000 per year? Person A would pay $900 per month in rent, while Person B would pay $450. Use proportional splitting. Rent is split based on each person’s income.For example, if four people live in your apartment for $1,600 per month, each person would pay $400 per month in rent. Divide the rent equally. Everyone pays the same amount each month based on the number of occupants.Here are five different ways to split the rent between roommates. Step 2: Decide together how to split the rent For example, one person may think that eating out is a necessary part of life while another may prefer to cook at home to save money. You may find that you’re not on the same page about what you consider an acceptable expense. If you’re already living with roommates, discussing finances is still a good idea. A friendly, honest discussion at the start of the roommate relationship to set ground rules and guidelines for splitting rent and other costs with roommates can go a long way in preventing future conflicts. That is especially important if you’re moving into a new apartment with people you don’t know well.ĭo you know how your lease agreement details every aspect of when and how you need to pay the property manager? You can create a roommate agreement that does the same. The first step in figuring out how to split up rent with roommates is establishing some ground rules.
Here are a few steps you can take when figuring out how to split the rent with roommates. Whether you are just moving into your first apartment, looking for ways to reduce your monthly expenses, finding your roommates online, or moving in with your longtime best friend, you can use helpful advice.
If you’re not careful, you could wind up paying more than your fair share or, even worse, end up on the street. But it can also be a bit of a hassle if you’re not sure how to split the rent evenly. Living with roommates can be a great way to save money on rent.