Moving into a new rented house is both exciting and worrying based on whom you would be staying with. Your roommate could be one crazy partner to be with and you would want to ensure an enjoyable stay ahead. Struggling money management with a roommate? Here is how you can avoid awkward arguments!
Research well about your to-be roommates
If you did this well, everything ahead is hassle-free. It is important to research about the financial flexibility of your roommate. So before you move in, meet them up and understand if your financial standings sync well with them. Ask them as much as you can. You do not have anything to lose here. Hunting flats for rent in Delhi or any metro cities in India is a nightmare but the worse could happen if you landed at the wrong door.
Be direct with ownership
Everything defines from here. Set the right expectation as early as possible. If you are not up for sharing liquor or non-veg grocery expenses, tell them. What could be jointly paid for and what could not. Make a list and be transparent with ownership of different expenses. Talk it out with utmost clarity and politeness.
Electricity and Internet bills have to be shared
Certain types of bills have to be shared by all and electricity leads the category. The idea is to avoid the complexity of tracking the usage by every member. Do not encourage the suggestion of pay as you use for such services. The same goes for the internet, water bottles, laundry, and house cleaning. These are basic services and by default consumed by all.
Notify the upcoming bill
Notifying in advance could be helpful. This encourages prioritizing collective bill clearance upon one’s own individual expense. Try an e-mail reminder or a Facebook alert, it works. Add to it many money management apps that share an automated reminder with the selected members in the pool. A weeks advance should suffice.
Place a collections container in the common room
Asking for the monthly share of the bill is awkward. Such a container with appropriate labels – electricity bill, etc. can help convey the alert message timely. Place it in the central room or any spot easily visible. Do not pay the bill until everybody has pooled in. Choose a flat that meets all your demands by default finding such a flat for rent in Delhi is no less than a dream coming true. However, house rental services such as NestAway help you ask for on-demand facilities such as no restrictions on religion, food, timings, zero brokerage fee and much more. The more you research initially results in lesser compromising with your comfort space later.
Track additional expenses and report regularly
If anyone from the group did all the grocery shopping, writing down and sharing the sheet should be promptly done. Excel could be very useful here. Create one sheet and share it with all the roommates through their e-mail. Such a centralized dashboard allows everyone to update their contribution and track it more efficiently.
About the Author:
Shanaya Mehta is a professional content writer having 3.5 years of experience in Real Estate, Home Improvement, and Lifestyle category. She is also passionate about helping people by sharing her ideas on different issues.
Six Working Tips for Managing Money with Roommates. If you have experience..please, share your comments below…
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