Renting an apartment is often costly, and you may need a roommate. It’s a common thing in big cities, and such arrangements are not only cost-effective but have other benefits, too. Sharing a rental unit with a roommate lowers your living costs, increases safety compared to living alone, and helps with a more flexible lifestyle and shared responsibilities. Sharing a living space with someone can make life easier, but you need to make sure you set boundaries and rules, particularly about finances. Splitting rent fairly will prevent conflicts, build trust and transparency between roommates, and avoid potential legal problems, as well as communication issues. Being open about sharing your living costs and making your budget predictable is essential for a stable living arrangement and a friendly connection with your roommate. This blog post will help you learn how to split rent fairly using our rent split calculator and set you up for a roommate and apartment search.
Benefits of an even-handed approach to rental costs
Not so many people understand the importance of splitting rent fairly between roommates. It’s not only about fair finances – there are a couple of more reasons why you and your roommate need to pay for the living costs according to what you spend. Here are the main benefits of using our rent split calculator for paying your rent together:
- Prevent conflict – tensions grow fast when it comes to money. If one person feels they pay more than they should, your roommate relationship can fall apart quickly. Protect your connection and friendship with an open financial situation.
- Recognize differences – you can’t pay rent the same if you don’t share the space evenly. A larger, more comfortable room should cost more, so be sure to split the costs accordingly.
- Openness and transparency – another way to build trust with your roommate. For a longer, trustworthy relationship between roommates, stay open and transparent about the costs.
- Positive atmosphere – keeping harmony in your living space is essential. You don’t want to come back from work to tension and an unwelcoming atmosphere – and bad finances and uneven rent splitting can definitely do that.
When to use a rent split calculator
Like most times in life, nothing is black and white, and neither is splitting rent. The rent split calculator is useful in the following situations:
- Roommates use rooms of unequal sizes – paying rent fairly in accordance with the amount of space roommates use.
- Roommates have varying incomes, and they want to pay rent based on their unique financial situation.
- Uneven amenities – more storage space or a better view might be the reason to split the rent differently.
Whatever the initial reason, splitting rent fairly rather than equally will ensure a harmonious living situation among roommates and help prevent conflicts.
Ways to split rent fairly
Even though rent splitting depends on several factors, you and your roommate(s) need to do your best to split it as fairly as possible. This means each of you pays a certain amount, which is adjusted according to various factors such as apartment size, income, responsibilities, etc. Whatever scenario you pick, our online rent splitting tool will be of great help – use it to calculate costs for each roommate and maintain the financial harmony of the household.
Split rent evenly
Let’s start with the simplest solution in the rental world – splitting rent equally, where roommates pay the exact same amount. This is perfect for roommates who don’t mind sharing common spaces such as the kitchen and bathroom, but also being okay if the bedrooms are different sizes. This is ideal for roommates who are close friends or couples, and don’t have a problem with equal rent split, as they are close to each other.
However, keep in mind that the initial agreement might change over time, as people change their minds, or simply their financial situation is no longer the same. That’s why an occasional check-up of the roommate agreement is advisable, as the other party might be shy to share they’ve changed their mind about the even split. If that happens, don’t make a great fuss about it; we’re sharing other ways to split rent fairly.
Split rent based on space used
One more way to pay rent fairly with your roommate is to divide it according to the space they are using. It’s a great choice if this is the first time you’re moving in with that person, and you’re not comfortable yet to split the rent equally. In such a rental situation, it’s important to calculate the square footage of the space each person in the household is using. This includes the bedroom and bathroom (especially if there’s more than one). However, common spaces such as hallways, the kitchen, and the living room shouldn’t be included as they are used by everyone in the apartment (if not agreed differently). In our rent calculator, you’ll be able to add the total rent and the number of rooms in question and their square footage. Then you can easily calculate how much rent each of the roommates needs to pay.
Pay rent based on your income
In some cases, the fairest way to split rent is based on how much each of the roommates earns. This will ensure everyone pays the amount they can, and it’s easy to adjust if the financial situation changes as well. This solution is perfect for roommates who are close or simply have a strong sense of fairness. Depending on both incomes and rent amount, you’ll be able to calculate the percentage of rent each roommate has to pay. It’s easy and easily adaptable, so you may try it with your roommate.
Communication is the key
Whatever scenario you pick, it’s important to be clear about your expectations and responsibilities. Sharing your living space with a roommate can be challenging if you’re not honest. When splitting rent, it’s important to revise your decisions and rental plans and see if it still works for everyone. Every six months or so, have a meeting with your roommate and go over your finances, but also cleaning and maintenance. Clear rights and responsibilities lead to successful collaboration. And that’s also the motto of our moving team – contact us for professional moving services and clear moving costs, with no hidden fees. Move into your new apartment with no fuss and problems – just excitement over starting a new life chapter.
