Here’s the reality: many people live with roommates because having people or someone living with you can be a great way to save money. However, to figure out how to split the rent fairly can be a bit tricky.
For years, we have been communicating with tenants, and splitting the room fairly is one of the topics we ensure they have discussed with their roommates before proceeding with the lease.
In this guide, we will discuss different ways to divide the rent and offer some practical tips to help you avoid conflicts with your roommates.
4 Different Ways to Split Rent
As long-time Northern Virginia property managers, we understand there are several ways to split rent with your roommates to make sure that the pricing you all agreed to is fair for everyone regardless of whatever situation you’re in.
1. Splitting Rent Evenly
Practically speaking, splitting rent evenly is one of the most straightforward methods to divide rent with your roommates. This simply means dividing the total rent amount equally among all roommates. For example, if the rent is $2,400 per month and there are three roommates, each person would pay $800.
For some renters who have the means and are living with someone they know, like relatives or other family members in the same apartment, this is the most choice and option they opt for.
Another scenario where splitting rent evenly is applicable is if all the rooms have the same size and contain the same amenities. Since everyone is paying the same amount of rent, most of the time, the same thing goes with the utilities too.
However, splitting rent evenly between you and your roommate becomes complicated because not every rental property has the same sizes of rooms, and not every renter lives with someone they know who agrees to split the rent evenly.
2. Splitting Rent For Unequal Rooms (by square foot)
Since not every rental apartment comes with the same size of rooms, this is where splitting the rent by square foot comes into play. Note that this method is a bit complicated to understand, that’s why we will give you different case scenarios. Here’s how you do it:
Calculate the square footage of your apartment.
First, you need to begin by measuring the square footage of each room in your apartment. Calculating the square footage means including bedrooms, living rooms, and any other areas within your rental apartment.
Determine the rent allocation.
Next, try to divide the total monthly rent amount by the total square footage of the apartment. Note that this calculation gives you the rent value per square foot.
For example:
- The total monthly rent is: $2,400
- Let’s say the total square footage of the apartment is: 1,600 sq. ft
- So, the rent per square foot is: $2,400 / 1,600 sq ft = $1.50 per sq ft
Allocate Rent for Each Room
Next, after you determine the rent allocation per square foot, you will need to multiply the rent per square foot by the square footage of each room to determine each room’s portion of the rent.
Here’s an example scenario:
- Room A: 400 sq ft
- Rent: 400 sq ft × $1.50 = $600 per month
- Room B: 800 sq ft
- Rent: 800 sq ft × $1.50 = $1,200 per month
In the scenario we have above, Room A would pay $600 per month, and Room B would pay $1,200 per month based on their square footage.
3. Splitting Rent By Income
Splitting rent by income is a bit common in some cases. For example, a couple living together has decided to split the rent based on their incomes.
Let’s say one tenant (A) earns $100,000 annually, and the other (B) earns $60,000 annually. Their total monthly rent expense is $2,400. So, how do they determine the rent split fairly based on their income?
- Let’s start with the total income:
- Tenant A’s income: $100,000
- Tenant B’s income: $60,000
- Total combined income: $100,000 + $60,000 = $160,000
- Then, we’ll calculate the income percentage:
- Tenant A’s share: $100,000 / $160,000 = 0.625 (62.5% of total income)
- Tenant B’s share: $60,000 / $160,000 = 0.375 (37.5% of total income)
- Rent Calculation:
- Tenant A’s rent share: $2,400 * 0.625 = $1,500 per month
- Tenant B’s rent share: $2,400 * 0.375 = $900 per month
In this scenario, based on their incomes, the boyfriend would pay $1,500 per month towards rent, and the girlfriend would pay $900 per month. This method ensures that both of them pay a fair amount based on the income split they have chosen.
4. Splitting Rent by Additional Amenities
Aside from the size of the room, some apartment rooms actually come with different amenities. These amenities can be:
- Ensuite bathroom
- Walk-in closets
- Balcony/patio
- Parking space
- In-unit laundry
Now, you need to discuss with your roommates how much value each amenity actually adds to the overall living experience.
For example, in an apartment with three bedrooms, if one room has a private bathroom valued at $100 more than others and another has a balcony worth $75 extra, then their rents would adjust accordingly.
This method is a bit uncommon, but it happens. If you’re dealing with an apartment and roommates like this scenario, make sure to have open communication with them to make sure that everyone agrees with the price of rent, especially for other roommates who get a room with better amenities.
Practical Tips for Fair Rent Distribution
Now, we know how much time would it take for you to discuss everything we mentioned above with your roommates. Here are some practical tips to actually help you with the fair rent distribution between you and your roommates:
Use Online Rent-Splitting Calculators
Now, to avoid all the hassle of manually calculating everything alone, the good thing is that there are a lot of online rent-splitting calculators that you can use to help you with splitting the rent fairly between you and your roommates.
Here are some of the best online rent-splitting calculators we know:
Create a Roommate Agreement
Once you identified how to split rent fairly using the online rent-splitting calculators above, you can try to create a roommate agreement. This way, everyone knows what is expected of them, from paying rent on time to cleaning duties.
Here’s what to include in a roommate agreement:
- Rent Details: Clearly state the total rent amount, each person’s share, and the due date.
- Utilities and Bills: Outline how utilities (electricity, water, internet, etc.) will be divided and paid.
- Household Chores: Specify how chores will be divided, such as cleaning the common areas, taking out the trash, and washing dishes.
- Guest Policy: Set rules for having guests over, including overnight stays.
- Quiet Hours: Agree on quiet hours to respect everyone’s need for rest and study time.
- Shared Expenses: Decide how to handle shared expenses like cleaning supplies or toilet paper.
- Conflict Resolution: Include a plan for resolving conflicts, such as having regular roommate meetings to discuss any issues.
For a complete list, you might want to read our article about the essential houses for roommates. It might help you to think of other things to include in your roommate agreement.
Supporting You with Clear Lease Terms
Now that you know how to split rent fairly with roommates, it’s time to discuss this with them. To proceed, effective communication with your landlord or property manager may be necessary. That’s where we come in.
At Bay Property Management Group, we recognize the importance of fair rent splitting among roommates. That’s why we assist renters with clear lease terms that clearly outline each roommate’s responsibilities and obligations from the start.
Whether you’re a landlord seeking assistance with property management tasks or a renter needing guidance with your roommate agreement, we’re here to support you.
Contact us today to learn more about our property management services throughout Baltimore, Philadelphia, Northern Virginia, and Washington, DC.
