You\u2019re moving into a rental with friends \u2013 let the good times roll \u2013 but first, it\u2019s probably best to deal with that elephant in the room\u00a0\u2013 shared bills.<\/strong><\/p>\n Renting with friends is going to be a blast, that\u2019s for certain. But something that\u2019s equally predictable is electricity, gas, water usage, internet and subscription TV bills finding their way to your email inbox.<\/p>\n Use our handy \u201chow to\u201d guide to avoid bill shock, and the confrontations that come with it, and ensure that you and your flatmates live happily ever after.<\/p>\n Sharing with friends will be a blast\u2026 but sort out the financial side first. Picture: Getty<\/p>\n<\/div>\n Back in the day, when electricity meters were read by eye, and home phone plans just included local calls, bills seemed to be random. A service that cost $50 one month could easily cost $150 the next. (The only thing that was certain; nobody was going to admit to calling New Zealand three times a week.)<\/p>\n Today, things have improved, thanks to the minor miracle of capped pricing<\/a> on many services. Knowing how much you\u2019re going to pay each month, or quarter, makes the conversation around how to split costs a lot easier, so we like the idea of locking in where you can.<\/p>\n Once you\u2019ve chosen your plan, discuss whose name is going to go on your accounts. While it\u2019s quicker to set up your accounts in your name only, we recommend taking the extra time to add your housemates.<\/p>\n Doing so means any one of you can talk to the service provider \u2013 why should it always be\u00a0you<\/em>\u00a0who makes the call when the internet is down?<\/p>\n Unpaid bills can also impact your credit score, so incentivise your crew to pay on time by adding their names to your bills.<\/p>\n Figure out in advance who will be responsible for keeping track of the bills. Picture: Getty<\/p>\n<\/div>\n The next step is to sort the split.<\/p>\n Much like life in general, the key here is good communication \u2013 talking about what will happen when the bills roll in, before they actually do, is a pretty good insurance policy against dramas after the fact.<\/p>\n In most cases, a simple even split 50\/50 or equal thirds will suffice, but before you rubber stamp that approach, try to be mindful of any special considerations. Does one of you get a master bedroom complete with ensuite, private balcony and air-conditioning? (Might be best to chip in a little extra rent, then.)<\/p>\n Set up a joint savings\/transaction account that all bills will come out of and everyone contributes to. Then set out\u00a0rules upfront around what will happen with outstanding costs\/bills when someone moves out.<\/p>\n In any shared accommodation, there\u2019s one seemingly benign variable that can quickly become emotionally explosive: food.<\/p>\n Don\u2019t let conflict over cuisine escalate and end up with your flatmates writing their initials on their individual grapes with a felt pen. Simple solution: working out in advance how you\u2019re going to split food.<\/p>\n If you agree that food will be a case of \u201cevery person for himself\/herself\u201d, then it\u2019s important to respect this much like any other peace treaty. If you really, really need to borrow some butter, ask first, or send a text.<\/p>\n On the other hand, if you elect to run with a structured meal plan, then get organised \u2013 there are apps to help you do just that \u2013 so it\u2019s a fair system for everyone concerned, and you\u2019re not baking lobster while your flatmates fry rice.<\/p>\n Who\u2019ll be in charge of paying for the kitty food?! Picture: Getty<\/p>\n<\/div>\n By this point, you\u2019re pretty well organised, but there\u2019s one last piece of advice: expect the unexpected. Little costs are always going to crop up, so we recommend having a kitty for this sort of thing.<\/p>\n Much like petty cash at the office, everyone contributes equally, and the funds<\/a> are strictly used for minor expenses that should be shared equally.<\/p>\n Shared accommodation can be great fun, and a springboard for savings, and sharing costs fairly goes a long way to keeping things sweet.<\/p>\n
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<\/p>\nLook at locking in<\/h2>\n
That\u2019s not my name<\/h2>\n
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<\/p>\nDivide and conquer<\/h2>\n
The really big one<\/h2>\n
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<\/p>\nExpect the unexpected<\/h2>\n
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