However, living with others is not always easy—especially when it comes to talking about money. A survey by Apartment Guide on roommate experiences found that more than one in five people had argued with their roommates regarding finances. “Having a roommate can help someone save money, but finances can make or break the experience,” says Khari Washington, broker and owner of 1st United Realty in Southern California. It’s hard to talk about money with friends (much less people you don’t know very well), but it’s necessary to have an honest discussion when you’re going to be living with them. There are ways to keep things clear from the second you sign that lease, so it can prevent arguments and misunderstandings down the line. Here are ways to divide rent costs with roommates that will help you create a fair, peaceful living arrangement. Splitting rent costs by square footage ensures that everyone is paying a fair amount for the size of their room—this comes in handy when one person or couple has a primary bedroom. “In general, it is best for the roommate who gets more to pay more,” says Washington. This rule just applies to the bedrooms, and not the common areas used by everyone. However, there are exceptions to this and it can be negotiated. If one person works from home, or is hardly ever there, it might be worth working out a different split. “Maybe in lieu of the utilities, they pay the cable bill and the other person handles [utilities] being they are the main user,” says Chantay Bridges, realtor, CEO, and writer at Bridges Publishing House. These shared costs include electricity, water, trash, and internet or cable. Once again, if one person does not use cable, but the other needs it and has a package with tons of channels, Bridges says it should be their responsibility. Dvorkin says fighting for hours over a few dollars is not worth it and to split utilities down the middle—so unless there’s a very obvious difference in usage, stick to an even split. Bridges suggests writing down all expenses in a “clear and concise” way that outlines what each person is financially responsible for from the beginning. “Write down all of the expenditures, break everything up into categories and divide it up. “Include percentages, amounts, average price ranges, any and all things that will apply,” explains Bridges. Having everything in writing can help prevent misunderstandings and gives you a a contract to refer to if one of the agreements is breached or needs to be amended. RELATED: How to Deal With a Roommate Who’s Driving You Crazy
