youchamp is here to help you keep it fair when splitting your rent with others. Here are some of the most common ways roommates can share rent, how to calculate what your roommates should pay and how to split rent payments.
How much should everyone pay?
If your rooms are different in size, your roommate might want to divide the rent by square metre. You may want to think about what your roommate should pay based on the size of the room, just to keep things fair.
It might also be fairer to divide the rent by the number of bedrooms than to divide it among the roommates. That being said, fair rent sharing between couples is about assigning value to the common areas of the home, and fair rent splitting reflects this. For example, you could split the rent between people, so that each member of a couple pays what they have in their share.
Once you have calculated and determined the value of your apartment share, it’s relatively easy to determine your rental premium with your roommate. This kind of rent sharing creates tax equality for everyone, especially if you and your roommates have relatively similar room sizes and furnishings. By sharing the higher rental costs and dividing the different bills for utilities and food, the common space will have advantages.
How to pay your rent
Stay in touch with your landlord and pay your rent with the youchamp split bill app. Divide the cost between you and your roommate by using the youchamp expense splitter. Set it up as a recurring expense to make sure youchamp automatically takes care of the bill every month.
If you follow these tips for managing joint expenditure with your roommate, you can spend less time worrying about how to share your living expenses with them, and more time enjoying each other’s company!