Are you considering moving into a rental property? Living with other people is the ideal way to create a great home environment in an impressive property. What’s more, you can avoid living alone. This has many benefits, of course, but chief among them is splitting living costs. If you’ve found the perfect place in Barnes from our many flats to rent, a tricky situation that soon arises with your new housemates is how to handle the bills.
Be it the rent, gas, electricity, water, internet or council tax, your new household will want to pay them on time, avoiding any disruption in service and unwanted attention.
At Trust Milo, we make the process of finding flats to rent in and around the Barnes area simple. We always prioritise your satisfaction, so we have used this blog to outline some of the easiest ways to share costs with your housemates.
The best way to resolve a complex issue is to break it down to its simplest form. When sharing a tenancy in Barnes or the surrounding areas, the first thing you should do is sit down with your housemates and figure out the exact household costs. From here, you can decide how to split them between you.
Make a list of who will pay which bill and its average monthly cost. If necessary, create a spreadsheet that outlines exactly how much money each tenant pays towards each bill, and when.
The two best solutions in flats to rent are taking half the bills each in a fair split or having one person as the designated bill payer. With the latter, the remaining housemates pay their share to the payer before the due date.
Whether in Barnes or any other location, the cheapest and easiest way of paying bills in flats to rent is through a direct debit. As long as you manage the money in your account correctly, setting up a direct debit ensures you always pay your bills in full and on time.
Your Barnes-based household can set up one direct debit per bill. Everyone else in the flat then establishes a personal direct debit to forward their share to the bill payer.
As mentioned above, send your payment in advance of the bill’s due date. This guarantees the payer’s account will always have the required funds. This seamless approach makes money a less frequent topic of conversation in flats to rent, creating a more harmonious living environment.
There are plenty of apps available to help take the hassle out of calculating shared costs. A popular example of this is Splitwise. These apps are great for helping you and your housemates keep track of bills while also dividing them with ease between you.
With these apps, you can also take into account who has the biggest room and who uses the most amenities. This makes the split in costs even more fair. In many flats to rent in Barnes and across South West London, one person has a master bedroom, possibly with en suite facilities. Naturally, in these cases, they should pay more rent than someone with a smaller space.