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Splitting rent -fairest way

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  • 10-01-2014 8:28am
    #1
    sternn
    Registered Users Posts: 929 ✭✭✭


    Hi All,

    There is a bit of a debate going on about this at the moment.

    We are going to rent a 3 bed house for €1900 in Ballsbridge. We were going to split the rent as follows;

    Double ensuite: €690
    Double (similar size to the ensuite room) and parking space: €690
    Single (box room): €520.)

    The bedrooms are all upstairs with a huge ground floor area downstairs. There is only the one shared bathroom, not including the ensuite.

    Can anyone tell me if this is a fair way of splitting it?


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    #2
    djimi
    Registered Users Posts: 13,238 ✭✭✭✭djimi


    I would have valued a parking space much higher than an en suite to be honest. Depends on the demand though.


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    #3
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    seems an awful lot for a box room to me especially when that person will not even have main use of the proper bathroom and I agree with Djimi parking space seems to be undervalued here.

    €50 a week for the parking space seems more reasonable to me and if it was rented out seperatly to the house you would easily get that to rent it out so about €215 a month for that but its being valued at €190

    with that in mind Id say

    Room en suite €690
    Double with parking €715
    Single €495


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    #4
    Shedite27
    Registered Users Posts: 9,367 ✭✭✭Shedite27


    Just do an auction for the rooms.

    When we moved into a 4 bed with one box room we basically auctioned the box room. Total rent was €2k so we went downwards from €500 for the box room.
    "Will anyone take it for €450?
    Will anyone take it for €400?
    Will anyone take it for €375?

    Eventually one lad took it for €350 and we then split the rest of the rent (€1650) between the other 3 of us.


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    #5
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Shedite27 wrote: »
    Just do an auction for the rooms.

    When we moved into a 4 bed with one box room we basically auctioned the box room. Total rent was €2k so we went downwards from €500 for the box room.
    "Will anyone take it for €450?
    Will anyone take it for €400?
    Will anyone take it for €375?

    Eventually one lad took it for €350 and we then split the rest of the rent (€1650) between the other 3 of us.

    Then somebody could conceivably take it for €1 !!

    The idea of an auction has merit a backwards auction of the boxroom wouldn't be the most efficient way to do it though IMO.


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    #6
    quietsailor
    Registered Users Posts: 1,428 ✭✭✭quietsailor


    Shamelessly copied & pasted from an answer I gave to someone on another thread about splitting bills :p

    One of the lads on here posted a word doc on how to divide bills in a thread - The equitable houseshare - and it shows how to divide up the rent equally even with a 2 bed, 3 person split.

    It goes on to say that the bills are divided equally.

    Something important to think of - who has been lumbered with dealing with the bills? I did a few years ago and what I noticed was that I had to have an overdraft in place on my a/c as one of the lads would be late paying all the time and then I'd get charged for overdrawing my a/c.

    It sounds petty but it adds up very quickly. Once I said to the other two renting with us that they would have to start paying extra to cover his late fees a small chat was had and he started paying on time/covering the late fees.

    Also, bank fees do build up over the course of a year, depending on the number of transactions you could be looking at €30.


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    #7
    dede12
    Registered Users Posts: 37 ✭dede12


    quietsailor wrote: »
    It goes on to say that the bills are divided equally.
    Something important to think of - who has been lumbered with dealing with the bills? I did a few years ago and what I noticed was that I had to have an overdraft in place on my a/c as one of the lads would be late paying all the time and then I'd get charged for overdrawing my a/c.
    It sounds petty but it adds up very quickly.

    OP, given this very good point & the fact that you're having some issues figuring out how to split the rent you & your housemates might want to consider opening a separate bank account you all have access to just for house stuff. Then have all the things relating to the house like bills, rent, etc come out of that account.

    Because if you're having these issues now I can forsee a potential situation down the road where one person decides their rent/bill portion isn't 'fair' and doesnt pay up what they should. Esp as you guys sound pretty new to renting in a shared house situation. Helps avoid a situation where one person can't afford to buy groceries/go out/etc because someone else couldn't be arsed to pay a bill on time.


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