How to Calculate Rent for a Shared House

There are many situations in which people may wish to rent a house together. Many times, when students are in college and they choose to rent a house, a group will do it together. In some cases, close friends or family members may choose to rent a house to avoid living in separate apartments. Often times, the reason that people decide to share a home rental is to defray the costs. One of the difficult things about renting a house with multiple people is determining how to calculate each renter's share of the rent and other financial liabilities.

Instructions

1. Determine who will pay the rent on the house. While it may be the case that everyone who is living in the house will pay rent, you must make sure that everyone agrees on who will contribute to the rental payments.

2. Calculate the total rental payment. Decide what the rent will consist of. In some cases it is just the amount due to the landlord. In other cases, certain utilities, such as electric, heat or water, will be included. Add up all of the bills that will be included to determine the total amount of rent.

3. Divide the total amount of rent by the total number of people paying the rent. The quotient will be the amount that each person must contribute.

References

• Apartment Ratings: Tips For Splitting Rent Among Roommates
• Nolo: Renting a House or Apartment With Roommates