Switch - Shockingly simple group payments Switch - Shockingly simple group payments

Campus Internship

How to Divide Rent Fairly Based on Room Size for a Harmonious Living Environment

December 4, 2023

A group of people jumping up and down in a joyful manner.

How to Divide Rent Fairly Based on Room Size

When it comes to dividing rent in a shared living space, it's important to consider factors like room size in order to ensure an equitable arrangement. Fair housing laws require landlords to treat all tenants equally, but there are practical ways to account for differences in room sizes when dividing expenses. In this blog post, we'll explore how to best accomplish this task and create a fair rental agreement for all roommates.

To divide rent based on room size, follow these steps:

1. Measure the Rooms

Start by measuring each room in the apartment or house. Use a measuring tape to determine the square footage of each room. Make sure to measure the usable living space and exclude any closets or storage areas.

2. Calculate the Proportionate Rent

Once you have the measurements, calculate the proportionate rent for each room. Divide the total rent by the total square footage of all rooms to determine the price per square foot. Then, multiply this price by the square footage of each room to find the proportionate rent for that room.

3. Adjust for Shared Spaces

Take into account shared spaces like the living room, kitchen, and bathroom, which are used by all roommates. Divide the cost of these shared spaces equally among all roommates and add this amount to each roommate's proportionate rent.

4. Review and Agree on the Allocation

Discuss the proposed rent allocation with your roommates and make any necessary adjustments. Consider factors like room amenities, natural lighting, and room layout when finalizing the allocation.

5. Document the Agreement

Once everyone is in agreement, document the rent division in a roommate agreement or rental agreement. Include the details of each roommate's proportionate rent based on room size and any adjustments for shared spaces.

6. Communicate and Revisit

Regular communication is key to maintaining a fair rent division. Schedule periodic check-ins with your roommates to discuss any changes or concerns regarding the rent allocation. Revisit the agreement if there are significant changes in room occupancy or if new roommates join the household.

7. Utilize a Rent Division Tool

To streamline the rent division process, consider using a rent division tool like Switch. Switch allows you to create pitches and manage shared money in real-time, making it easy to track rent payments and ensure transparency among roommates.

Ensure a Fair Rent Division Based on Room Size

In conclusion, dividing rent based on room size is an effective way to create an equitable arrangement among roommates. By following these steps and utilizing tools like Switch, you can ensure a fair and transparent rent division process. Remember to communicate openly with your roommates and revisit the agreement as needed to maintain a harmonious living environment.

Get the App

Get started in

seconds.

Switch is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Switch Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

© 2023 Grink Inc.