Advice for Splitting the Bills with a Roommate

Renting an apartment with a roommate can be financially advantageous for both of you. You’ll be able to rent a larger space in a great location, but still stay within your budget. Just make sure you choose the right roommate—a reliable, financially stable person you can depend on.

Deciding How to Pay the Bills

First, make sure that both names are on the lease. This will ensure that both of you are legally responsible for paying the rent on time and in full. Next, tally up the monthly bills for shared expenses, including rent, utilities, trash, TV, and Internet. If your utility bills tend to fluctuate from month to month, call the company and ask if there is a set payment plan available to improve predictability.

Once you have the monthly total, split it in half. Make a written agreement that both of you will sign agreeing to share these expenses equally. Indicate the dates on which each payment is due. Next, determine how you’ll pay the bills. Will one roommate be responsible for making the actual payment, with the other roommate providing his or her share in cash? Consider using secure money transfer apps.

Furnishing the Apartment

It may not be wise to share certain expenses evenly. This living arrangement probably won’t last forever. Once it’s time to move out, it’s tricky to decide who gets to keep the coffee table if both of you paid for it. Consider who will purchase specific furnishings for the apartment.

Dealing with Household Expenses

It’s also a good idea to purchase food separately. Keep food on separate shelves so that there are no misunderstandings. Otherwise, you may start to get resentful of your roommate if you come home from work expecting to heat up leftovers that are no longer in the fridge.

West WillowWood Apartments is known for their spacious, two-bedroom, two-bathroom apartments that are perfect for renting with a roommate or significant other. Plus, since heat, water, trash, and sewer costs are included in the rent, sharing costs with roommates is easy. You can call their office at (701) 356-1700 to inquire about available units in Fargo, ND.