How can I split the rent fairly?

Question

I am currently looking for a new roomate for my 2bed/2 bath apartment. My brother was staying with me before and I was covering most of the rent. My bedroom is 12x15 with 1 walk in closet and one small closet. The other bedroom is 12x12 with 2 VERY small closets. The total rent is $1390, (yes it's a lot-I live in Orange County,CA) what would be a fair way to split up the rent??

Answer 1

740/650 or something around there sounds like a good split. Closet space is really a big necessity, plus you have a bigger room as it is. If I was getting the smaller room, 650 is the most I'd pay.

EDIT: To those saying split it in half, you're crazy.
It's 36 sq ft difference (not 3), plus the added closet space (walk in is WAYYYY better than two VERY small closets). I stand by my original offer.

Answer 2

Although 50/50 is fair you also have to consider utilities. Average the cable/pge/water and add it to the rent so you don't have to ask for money here and there aside from the rent for utilities, and the renter will consider it a deal because it's all inclusive. I didn't include telephone because that can get sticky and it's best your roommate get their own phone line to avoid any problems, so I say tack on an extra 60 bucks or so for utilities and make it 750, that's still cheaper than a 1 bedroom and it's all inclusive. Also speaking from experience, protect yourself further; Once you get a room mate generate a house rules list and get it notarized. As long as they see you mean business they'll tow the line and not try to take advantage

Answer 3

so 12 x 15 = 180sf
And 12 x 12 = 144 sf.

for a total of 324 square feet between both bedrooms.

144 is 45% of the space and i assume you share all the other common areas. So a good place to start would be $1390 times 45% which is 625.5 and split the utilities evenly since sf doesn't really pertain to utilities.

This may sound totally stupid, but it is a good place to start!

But keep in mind, the apartment is in your name so that is worth a good extra of 1 0r 2 hundred. So maybe adjust that up to $825.50???

Answer 4

I have to agree with the first answer. Smaller room pays $660 and bigger room pays $730 seems fair. However, we live in a capalistic country, rent the room out for as much as you can get for it!

By the way, $1390 is cheap for Orange County.

Regards

Answer 5

Sounds like you are the one holding the lease, meaning you are the one who is ultimately responsible for making the payment. If this was to be the joint lease, the only fair way to do it is 50/50.

However, if your name is the only one on it, you can pretty much do whatever you like, since you have to account for the possibility that the room-mate may not pay, pay late, or cause damage, which will be your responsibility in the eye of the landlord.

I would suggest looking into what other people in your area are doing, and do something similar.

Personally, I'd ask for 600 dollars per month, 1/2 utility, actual usage on telephone (if any) but ask for one month worth as security deposit. Make sure you spell out the condition as to how you will treat deposit and how he will get it back.

Answer 6

The size of the bedrooms in this case are relatively of no consequence. You both share all other utilities, and features of the home (i.e. bathroom , laundry - if it exists, Kitchen, and all other public areas like living room, etc...). Rent and Utilities should be split right down the middle, if you want to give them a compensation for the extra 36 square feet of room you take residence in, you could knock say 20 to 30 off of the rent, but still split all other costs.

Answer 7

If you want to make a nice gesture you can tell them they only have to pay $600 that way you are paying $190 extra for the bigger rooms and you can offer to accomodate her a little if she needs to put something in your closet that she doesnt wear a lot maybe. Since you were paying most before it will still be a better deal for you and the new person won't feel cheated. Just a thought, what do you think?

Answer 8

If your roommate will have access to the whole house i.e kitchen living room and there are no restrictions on guests or anything like that I would split the rent evenly in half. Or you can look at the going rate for 1 bedroom apartments and if its less than half the rent charge them that...

Answer 9

If you rent the apartment, and the lease is under your name only, then you can charge whatever you want for the second bedroom. However, if you are renting with a friend or the lease is under both of your names, then I believe that it should be split equally, unless you can both agree to a fair price for the larger bedroom.

Answer 10

I live in Orange County too! I think you should pay about $740 and the other roommate should pay $650. Either that, or split it right down the middle and offer free utilities (as in, you would pay for electricity, etc.) to make it even. Good luck!