Living in an Ohio University student rental comes with a lot of perks. More space, the ability to live with your best friends, and a real sense of independence, just to name a few. But, with that newfound freedom comes one tricky task: figuring out how to fairly split the rent and utilities, if you live with roommates.
Whether you’re living in a three-bedroom apartment on N. Congress or sharing a six-bedroom house just 15-minutes away from campus, you and your housemates need to establish a fair system that everyone agrees on from day one.
When done correctly, sharing the costs of rent and utilities can be a game-changer, helping you stay within your limited budget as a college tenant. But, this requires conversations and a solid agreement.
This is a practical guide to help you avoid issues when it comes to bills and keep your house running smoothly.
5 Steps to Decide on How to Split the Rent and Create a Payment Schedule
It’s easy to neglect these conversations but talking about how rent’s going to be paid is crucial for a stress-free living situation.
If you fail to bring up the bills, you and your roommates could get into disagreements later down the line. Arguments about rent and payments can be a source of conflict that could eventually drive a wedge between your friend group, too.
That’s exactly why, before any move-ins, everyone needs to be on the same page. Here are 5 easy steps to discuss the bills:
1. Find out what you’re paying for
Before you can split any bills, make sure everyone knows what costs go into your apartment or multi-bedroom house.
- Monthly rent (Is it one flat rate for the house? Are some rooms bigger than others?)
- Utilities (electricity, water/sewer, trash, gas/heating)
- Internet and Streaming Services
- Security Deposits and Upfront Costs
- Yard or Lawn Maintenance (if you live in a rental with a yard)
Check what’s included in your lease terms. Some landlords cover trash and water, while others leave it all to the tenants.
2. Decide how to split the rent
If the place has similarly-sized rooms, easy-access to bathrooms, and other furniture, it’s easiest to do an even split for the rent. Simply divide the rent equally among all roommates.
If one roommate wants to take the large master bedroom, it’s fair to charge them a little more. You can calculate this based on the square footage of each room, or use an online rent splitter tool to do the math.
For example, in a $1200/month house with one large room, one average room, and one small room, the large room could cost $450, the medium room $400, and the small room $350.
Make sure that everyone agrees that the rent split is fair before signing the lease with the landlord.
3. Divide the utility bills
Utility costs can fluctuate from month to month. During the winter months, you can definitely expect your heating bill to be a lot higher.
To pay your utility bills on time, it’s easiest to choose one person to pay each bill. They’ll get reimbursed monthly. Using an app like Venmo, Zelle, or even an Excel file to keep track of who owes what. Keeping records with screenshots can help avoid future confusion.
Also, setting house rules early on about water use or electricity consumption can help everyone feel that they’re paying their fair share.
4. Set a consistent payment schedule
Life can get busy, with midterms, student orgs, activities, and more. But, your landlord expects rent regularly and on time. Avoid late payments by setting a monthly reminder for everyone. Agree on a deadline to collect payment from each roommate a few days before rent’s due, so that you won’t rack up any late fees or other consequences.
5. Put everything in writing
Just like with lease agreements, writing down what everyone has agreed on will go a long way. Throughout the months of living together, you can refer to this written agreement. Try to include details about rent amounts, who pays what utilities, payment deadlines, and what happens if someone has to move out early.
Keeping things professional and drama-free goes a long way in making your shared space a real home.
Like with everything, the key to a peaceful roommate situation is clear communication and boundaries. Discuss these important details about the bills before you sign the lease.
Get a Spacious Shared Living Space in Athens with Kleinpenny Rentals
Living in a student apartment near OU can be one of the best parts of your college experience, especially if you’re sharing a space with your good friends. From a two bedroom Athens rental to a spacious 8-bedroom house, Kleinpenny Rentals has a wide range of properties available. Each of our properties is well-maintained and situated minutes away from both campus and uptown Athens.
We’re here to provide you a smooth renting experience so you can better enjoy your life as a student. Whether you have any maintenance problems or other issues, give us a call, and we’ll quickly respond to your needs.
Due to high demand, most of our available rentals are occupied pretty quickly before the start of the new academic year. That’s why, if you’re looking to move out of the school dorms, start your search early.
Browse our Ohio University off-campus housing options and find the best apartment for you and your friends.