How to split apartment rent for different factors
Deciding how to split apartment rent can require a lot of information. If you have an apartment with equally sized rooms and benefits, it can be easy to just divide rent by the number of people living there. However, knowing how to split apartment rent when you end up renting a space where the rooms aren’t all the same size or one is more desirable in some way, it becomes trickier. Here are some ways you can figure out how to split apartment rent.
Divide the square footage
To get an accurate breakdown, take the square footage of each bedroom and divide by the total square footage of the apartment. This gives you the percentage of space each room occupies. Take each individual percentage and apply it to the total cost of rent. This breaks down the cost per percentage of total space occupied.
Leave It To A Rent Calculating Tool
If you and the roomies aren’t fans of math, there’s also an easier way — an online rent calculator. There are plenty of good ones available on the web (and yes, they work even when space isn’t divided evenly). Some of the popular ones are : RoomieCalc.com, SplitWise.com, and Spliddit.com.
Take the “Perks” Approach
What exactly do you get with your room? For instance, do you have a private bathroom? That’ll be extra. Assign a cost to each amenity or “extra” and tack it onto an evenly divided room price. (Tip: Closet space, windows, balconies, etc. are also perks to consider.)
Consider Per-person Calculations
Think about your daily habits: how much water you use, how often you switch the light on/off, etc. Now double it. Therein lies the logic behind splitting on a per person basis. If you rent a room to a single occupant, you can expect a certain usage of energy. But rent out the same space to two people, and you can expect expenses to increase. You can also expect a heightened degree of wear and tear, plus storage space in common areas (refrigerator shelves, anyone?) to decrease.
Finally, Write it all down
To guard against future roommate pricing disputes, get it down in writing and make copies for each tenant. A roommate agreement is a stellar way to get your details on file so you’re not left wondering the terms in the future.
MHA offers hundreds of high quality apartments for any stage of life, whether you’re moving for school, a new job, or downsizing. MHA Apartments have amazing amenities in every building, from fitness centres to games rooms to outdoor community seating areas. You can search our variety of apartments here! Contact us at each specific building for more information, we’d love to hear from you!