Reduce rent, get a roommate

If your rent is too high and you have room to spare, consider looking for a roommate to split the costs of living. First ensuring your lease allows for a roommate, this is the best way to reduce your costs on a day to day basis and share in the renting process – Reduce rent, get a roommate, it’s the easiest way.

Once you have checked whether or not you are allowed a roommate, as well as the rights of the landlord regarding approval of new roommates, before making any plans for moving in. Violating your lease could lead to eviction, so never put yourself in that position.

The business of living with someone

When you have decided who you could live with and how it could work, now you need to turn to the practical aspects of living together- laying the ground rules and style of conduct for your home. These can include:

  • How will the rent be split? Will you split it 50/50 or will you cover the whole rent and your roommate reimburse you? Sometimes it could even be divided depending on room size.
  • Who will pay the additional security deposit? If more deposit is needed, will you split it or will you cover it to keep the money separate when getting the deposit back.
  • How will you share the joint expenses like internet or electricity? While many split it down the middle it can also work well for each to be responsible for different bills of similar value. Perhaps one pays for the phone line and the other pays for the internet data.
  • What are the financial implications of one of you moving out before the lease is up? What happens if you do separate?
  • If living together isn’t working out, how can you approach separating in a peaceful manner?
  • Is your roommate obligated to find you a suitable replacement roommate? In the event that he or she moves out before the lease is up.
  • How will the house work be divided?

 

Dividing things equally is usually best, however as long as all parties are happy, your household can run smoothly.