Hey pal,
Moving into a rented apartment is an exciting experience for those who have joined a university. All along the possibility of splitting bills and making payments was the responsibility of parents. For first-time landlords, I will share how to split utility bills with tenants.
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How to split utilities between tenants?To have a stress-free relationship between you and the tenant. You should follow the tips given below.
Decide how to split the bills:Ideally, you should pre-decide how to split the utility bills before the rent agreement is signed. The tenants will be aware if the split will be 50-50 or according to the utility use. At my house, the utility bill is split according to to use.
Calculate your monthly utility bills :Utility bills that need to be paid are gas, electricity, water, and the most important one, WI-FI. You should have an idea about the total amount which will be paid on bills. A rough idea will help you budget your finances.
Use a bill-splitting app:There are numerous bill-splitting apps available in the app store. You can choose one that you like and keep adding your expenses there. It will keep a record of the money spent, who owes whom and how much. I use splitwise because of its easy user interface. This will reduce the risk of late payments as well.
Final thoughts:
In many cases, the renters in the unit pay the entire utility bills on their own. As they rent out an entire unit. You can mention details about splitting bills in a separate section of
the rental agreement. A signed and previously agreed agreement will avoid disagreements and huge amounts of tension between landlord and tenant(s).
I hope the tips shared above on how to split utility bills with tenants, ensure the bills are split fairly.
Read more:
do landlords pay for water
What can a landlord deduct from your deposit?
What is landlord-tenant law?
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Authors Of The Question
How to split utility bills with tenants?
Pradip
779Views
1 Year
2022-11-29T12:04:12+00:00 2022-11-29T12:04:14+00:00Comment
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