Log In This is actually pretty good! Basically it figures out how much particular features are worth to someone and divides the rent based on what people are willing to pay for this or that. I tried out the calculator with a few different scenarios in mind and was pretty happy with it, even when I would've been the one paying more.
That's a pretty cool calculator! Luckily I'm not sharing my house with anybody else but with my husband and my daughter so we basically share all the rent (well however much I can put in myself since I'm working from home and the total of my earning per month varies ) I'm definitely going to share this to some of my single friends who are still sharing with somebody else so they know how much more or less exactly do they need to pay than the other per month. I could help them to save or lose
What got me was the guy saying that a 3 bedroom apartment for $3,000 a month was reasonable. Are you kidding?? In certain parts of the country you can BUY a house for a 500 dollar mortgage especially if it's a foreclosed house. Having a way to fairly divide rent is always a good idea. I've wondered how people sometimes accurately divide rent and utilities among several people.
That calculator means nothing. It all depends on what city you live in. Cost of living is what it's all about. I live in a two floor two bedroom apartment for 600 a month in San Fransisco, this apartment would go for 2,000 a month.
Where you live does have alot to do with how much the monthly mortgage is. If the monthly mortgage is low the income is low also. In my area the rent can be as high as $6000 a month or more. Some people are renting a basement apartment for $1500 a month.
Well technically, the calculator is being used based off what the actual rent price is..... so whether it's a $600 apartment or a $6000 apartment, it's still going to work out the ratio that each person should end up paying.
HAHAHA! I just moved in with some friends and we were trying to decide what my rent will be so that's awesome as far as a calculator goes. Thanks for posting this because I think I would have never figured it all out on my own. Whoever came up with that idea was purely brilliant. We were having issues since there are three adults and a kid and I'm the extra adult. Thanks again for this post!
Luckily it is only three people who live in my house. My brother, husband, and I split all the bills three ways. Where I live, rent only goes as high as $800 a month because of the low economy. We pay around $400 a month for our apartment and all utilities are included.
I have a spare studio apartment in my house but I have never thought of renting it out just because I cannot imagine sharing my house with someone although many do it in my locality and earning good extra income. However, the plan you mentioned here is a good one and worth trying for. Maybe I would rent my spare apartment to someone when I am in need of more money and take full advantage.
