Roommate and Shared Expenses Agreement

What a good one includes

• A detailed breakdown of how rent is split and the exact date it must be transferred to the primary tenant or landlord.
• A clear method for dividing utility bills, specifying which roommate's name is on each account and when reimbursement is due.
• An agreed-upon schedule for household chores and the shared cost of cleaning supplies.
• Specific guidelines regarding overnight guests, visiting hours, and designated quiet times in the home.
• A formal procedure for how security deposit refunds will be distributed and who pays for damage to common areas.
• An exit strategy outlining how much notice a roommate must give before moving out and their responsibility for finding a replacement.

Common mistakes to avoid

• Relying on informal verbal agreements instead of putting expectations in writing before moving in together.
• Failing to establish a clear policy for what happens if a roommate loses their job or suddenly cannot pay their share of the rent.
• Omitting minor but frequent shared expenses, such as household cleaning supplies, toilet paper, and streaming subscriptions.
• Assuming your landlord will intervene in roommate disputes, when in reality most leases make all roommates jointly and severally liable.

Frequently asked questions