Tips from Eatontown, NJ Realtors on How to Rent With a Roommate

5 suggestions from Realtors in Eatontown, NJ on ways to cope with having a new roommate

In recent years, the number of unmarried young adults in the U.S. has exceeded the number of married couples for the first time with 46.3% being unmarried compared to 44.9% married. In addition, an article found in the Wall Street Journal reported that the number of married couples continues to decrease each year. With this research and statistics, one can infer that cohabitation is on the rise. Realtors in Eatontown, NJ can attest to this information, as more and more of their clients are opting to rent homes instead of purchasing. Due to the current state of the economy, more and more people are choosing to rent with a partner, whether it is a family member or acquaintance. Money is tight for everyone and housing costs seems to be growing each year.

See below for tips from an Eatontown NJ Realtor on how to successfully rent with a roommate:

Choose Your Place Wisely Suggest Eatontown NJ Realtors

In taking this first step, you will want to consider both yours as well as your roommate’s incomes, or whoever will be paying the rent each month. Realtors in Eatontown, NJ recommend you make sure that both you and your roommate come to a mutual agreement regarding finances and other living situations such as visitors and cleaning. Only when both parties are satisfied with this agreement is when you can both live happily together.

Decide Who Will Go on the Lease

The best way to stay protected in this living setup is to make sure that both of your names are on the lease, so that you as well as your roommate are equally accountable. Consider having both your names put on bills regardless how they will be paid in order to protect yourself in the event of a “deadbeat” roommate recommend Realtors in Eatontown, NJ.

Decide Who Will Be Handling the Money Say Eatontown NJ Realtors

Since cohabitation generally means two incomes are available but separate, it is easy to get confused about what belongs to whom. So, make sure that you keep some documentation if you share large purchases or give each other loans. This can help out greatly if your living situation unexpectedly goes south.

Try to Make a Genuine Friend

Do not take your roommate for granted if he or she seems to be the only one cleaning your place all the time. Remember, not everything has to be fifty-fifty. Sometimes you can make dinner and clean up. At other times he or she can buy the groceries and vacuum your home. Think of this as a friendship as well as a partnership.

Make Your Intentions Clear At the End Recommend Eatontown NJ Realtors

Maybe your lease ends and you decide to go back to living with your old roommate from college. Perhaps you realized you could never live with his excessive snoring or her bathroom habits. No matter how your cohabitation ends, if you are clear about an exit strategy, things do not have to be complicated.

 

 

 

 

 

 

 

 

 

 

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