‘Fair & Square’ – Often, the two words people subscribe to when it comes to splitting their rent with a roommate. Generally, we all are sensitive about anything that involves money. So splitting rent equally (or proportionately) with your roommate is quite difficult. However, it is not rocket science either. Based on some basic criteria, rent splitting could be easily done. However, it is different from splitting a movie ticket, groceries, or utilities.
If you’ve ever shared an apartment, you’re probably aware of the potential unpleasantness of determining how to divide rent with roommates. However, even if you’ve prepared by asking all the appropriate questions, the first talk with a roommate about how to share apartment rent might be tricky.
Unlike a utility payment, which can be divided evenly, sharing rent properly can be difficult. Everyone, after all, has different priorities. One roommate, for example, may want the largest room, while another may choose the bedroom with the most natural light. So, it is better to find a roommate who agrees to the rent split or is at least open to the idea of splitting the rent appropriately.
There are a lot of considerations working in the background while optimizing the rent. But, the most frequently used method to divide the house rent between roommates is to grab a calculator and divide the total rent by two. However, remember that this method will go out of the window if shared rooms don’t offer the same space/size or amenities. Nevertheless, this is a good-to-go method for similar rooms or when a single room or space is shared by two. But, what are the other ways of splitting rent with a roommate? Let us find out!
1. Split it by room size
Most of the houses and apartments people live in don’t offer the same sized rooms. So it is only fair to split it according to the room size. This could be the discussion that should initiate when you look to find roommates. This is good for a duo looking for rooms with differing requirements space-wise. This method is fair for usable living spaces and not suitable for improper layout of rooms where the size might be big but unusable.
Important tips: If you are opting for this rent splitting method, then don’t forget to calculate the space (square ft, square meter, etc.). Say, for example, your room size is 30% of the size of the cumulative rooms (your room+ roommate’s room=cumulative room size). That means the rest, 70%, is your roommate’s. So at the time of rent splitting, 30% is to be borne by you and the rest by your roommate.
2. Split it by amenities
This method is easier said than done. It is more like splitting a food bill according to consumption. But unlike a food bill with predetermined figures, amenities don’t sport a price tag. Also, this method assumes that the two roommates are compatible and understanding (quickly use a good roommate finder to find you one).
Now let’s understand what can be considered ‘amenities’ for splitting rent:
- Parking space: The value of a parking space/garage is immeasurable in any location you live in. A two-wheeler parking space is supposed to be cheaper than a four-wheeler one.
- Attached bathroom: This point can be considered if one roommate enjoys the luxury of an ensuite bathroom and the other has to use a common sharing one.
- Other utilities (if any): There could be a heater in one room, a walk-in wardrobe in another, or other fixtures that the two roommates do not share equally. So those variables could be considered while splitting the rent.
3. Split by responsibilities
Two (or more) roommates sharing a house or apartment will eventually need to share many daily responsibilities, which eventually can be squared upon splitting the rent. Now since there is no thumb rule to quantify the responsibilities, it should better be left to the understanding between the roommates.
Tips to consider: Rather than trying to quantify, it is advised to share the responsibilities evenly between the two. This could either be done as per feasibility or by skillset. It also makes the roommates more responsible for each penny they spend on rent.
4. Split by income
This idea generally works well between two friends or acquaintances. As per this method, rent is split as per the financial capabilities of the individuals. The process should ideally start when you look to find roommates. It is important to clarify who can spare how much for the monthly rent. If one pays significantly less, they should take more household responsibilities than the other. It is less scientific, but it works.
Beyond the above mentioned methods, you can consider checking the following points while splitting the rent between you and your roommate(s).
- Write it down: No matter which method you choose, it is always advisable to have it documented and preferably signed to avoid conflicts in the future. Points like who gets which room, the method of splitting the rent, the rent amount, and responsibilities should all be mentioned.
- Communication and Leads: Communication is pivotal in any joint venture. Since a third party (landlord) is also involved, communication becomes vital. So it should be decided beforehand who communicates to the landlord regarding rent payment, renewal, or any other issues.
- Payment method: A predetermined payment structure helps pay the split rent on time and without any hassle. It is important to decide which payment method you both would prefer with your roommate. Communicate or discuss the same with your landlord as well.
- Schedule your rent: With so many reminders and auto-debit features available there, it is better to schedule your rent and rent split beforehand.
- Rent split calculators: Everything is going digital these days. If you can find roommates online, there have to be apps or calculators taking care of the rent split per your customization. So check out and make good use of them for splitting your rent.
A misunderstanding in the rent split can make your stay uncomfortable. Choose whichever method, whichever calculator you prefer, but ensure you and your roommate are on the same page. Take the help of a roommate finder online to find the most suitable roommate to divide your rent with.
