Tag: rent calculator

Duplex Livin’

Those low ceilings are a killer

Finished basements can be a tricky situation, and they aren’t for everyone. In today’s Dear Splitwise we take a look at how a bi-level duplex with an inhabited basement should be split up.

Dear Ask Splitwise,

I’m so thankful for the rent calculator you have. It’s been a great starting point for me, but I’m wondering if you can give me some additional advice on my quirky living situation. I just moved into a duplex apartment with one bedroom on the top-level and two bedrooms on the basement level. Here are the deets:

Continue reading Duplex Livin’

The Multi-Purpose Home

Today in Dear Splitwise, we talk about a unique housing situation in which one occupant makes considerably more than the other, and how rent should be handled when in that situation.

Dear Splitwise,

I have been utterly in love with a specific home design for nearly half of my life. As I’ve grown older, I’ve come to realize that this particular home is far bigger (and more expensive) than I could manage all by myself. Then an idea struck me- why not make it a two family home?! My best friend and I see eye to eye on just about everything from chore duties to child rearing, every core value that makes or breaks cohabitation.

Continue reading The Multi-Purpose Home

Yahoo Answers! – A Tale of Terrible Customer Service

Here at Splitwise we’re a small start up, which means that we don’t spend a ton of money on marketing and advertising. It’s something that we do ourselves through various outlets; one being answering questions on Yahoo! Answers when people ask about rental advice. It’s a good way to get our name out there, and get some visibility on our sweet rent calculator.

Well, it was a good way until last week. On Wednesday I woke up to my Yahoo mailbox looking like this:

Continue reading Yahoo Answers! – A Tale of Terrible Customer Service

Window Issues

When it comes to living spaces windows can be both a blessing and a curse. You’ve either got no light, too much light or noise when it comes to some window pains (pun intended). 

Dear Splitwise,

I have a room in a 3 bedroom apartment that doesn’t have any normal windows but has a skylight. The other two rooms have large windows but face a fairly loud street. What do you think the the rent differential for this would be?

Painful Windows

Continue reading Window Issues

Shelling Out for Dish Duty

Ever have one of those roommates that just can’t seem to ever do their share when it comes to chores around the house? Today we discuss that person who don’t get the importance of cleaning up after themselves while leaving appliances on 24/7.

Dear Splitwise,

I think maybe you guys should make a calculator for roommates who leave appliances on. Sorry, but I’m not paying for you to leave 2 fans and a scentsy on all day. Maybe even one for doing all your dishes all the time since you love to cook and use every dish in the house. There are flies and I’m not waiting for you to do them. Charge them.

Drowning in Dishes

Continue reading Shelling Out for Dish Duty

Everything is Bigger in Texas (Including the Closets)

Today we’ll be talking about how to split up room cost between roommates when it comes to fancy Texan livin’ and their huge closet spaces.

Dear Splitwise,

I am currently in the process of moving into an apartment for the first time with 3 very dear friends of mine. It’s all really exciting but we are having some problems figuring out exactly how much everyone needs to pay a month. Two people will be sharing the master bedroom, while the other 2 will get their own rooms.  Continue reading Everything is Bigger in Texas (Including the Closets)

Latrines’ Galore

Today we’re talking about some sweet unconventional housing, hardwood floors, and figuring out how much rent each housemate should pay.

Dear Splitwise,

I am trying to arbitrate a living situation for my daughter and want to share some Outhouses Galorethoughts. Your “Splitwise” rent calculator is ingenious! However it may not work as well with unconventional housing. One thing missing from the calculation is the number of bathrooms. This is a drawback as a typical 4 bedroom house might have only two bathrooms so the MBR rent would be much higher due to the exclusive use of the MBR bath. All other tenants and house guests would use the single remaining bath… much less desirable.

Continue reading Latrines’ Galore

Rentin’ Rooms in your House

Why U No Use Rent Calculator?
Most Splitwise Man In The World

If you are going to rent out a room in your house, especially to a friend, you need to pick a fair price that also reflects the market. One reader asks:

Dear Splitwise,

How would you charge if you rent out a room with a private bathroom in the home that is your primary residence, which you own?

Sincerely,
Landlord in Training

Hi Landlord in Training,

Great question. As it happens, I just had to help my parents do this. Here’s what you need to know: Continue reading Rentin’ Rooms in your House

Does it really work? Feedback on the Rent Calculator

Thanks to interest from readers and responders like you, I have had a lot more opportunity to check my original work and the calculator is holding up quite well under public scrutiny. Thanks to everyone who gave feedback or wrote notes of congratulations – it’s made this whole project really, really fun!

Right after launch, I started collecting voluntary feedback from people using the calculator. Originally, I simply asked people to rate the calculator on a 1-5 scale. Here are the results from the first 1,338 respondents (before I switched the feedback system to the present one, which is still collecting data).

Continue reading Does it really work? Feedback on the Rent Calculator

Survey results – Split the Rent accurate to within 10%

Fairness is a funny thing. One person’s fair is another person’s rip-off. So it is important for a rent-splitting calculator to jive with a broadly intuitive sense of fairness. It can’t just be what I think is fair – or what any one person thinks – or it won’t be useful.

In order to validate and calibrate the formula I used for the rent-share calculator on this blog, I did a rather in-depth survey on “apartment sharing fairness” with my friends. Here are the results – enjoy!

Continue reading Survey results – Split the Rent accurate to within 10%