Most people keep track of monthly group expenses on paper or Excel spreadsheet, but if you’d rather make better use of your time you’ll want to consider an online solution.Whether you’re in school or working full time, spending hours each month calculating everyone’s share and keeping tabs on who has paid and who owes is probably the last thing you want to add to your to-do list. Using an app like RentShare that provides all of the resources you need for splitting rent and making sure roommates pay can be a simple solution for dividing and conquering your rent payments each month. Here’s how to get started:
1. Gather Your Information
To fully use RentShare get the following things together:1. How much each roommate pays for rent
2. Names and email address of your roommates
3. Your landlord or property manager’s name and address
Having all of this information together before you sign up means you’ll be finished in two minutes.
2. Split Your Rent
Once you and your roommates have signed up simply specify your share of the rent Every month each roommate will make their individual payment and RentShare will combine your payments and deliver the total rent check for you, regardless of landlord.
3. Leave the Rest to the Internet
RentShare takes care of reminding your roommates to pay up with email reminders, and by turning auto-pay on having to remember to pay your rent becomes a thing of the past for everyone.
4. Share Even More
“That’s great for rent,” you say, “but what about everything else?” Well, add other shared expenses into RentShare like utilities and food and split those costs as well. If you paid for pizza last night just add the item, the cost, and who you shared it with, and your rent totals will automatically be adjusted each month to even you out. No more hassling roommates or passive aggressively hiding their socks until they pay you back.Your household can sign up for RentShare for free at RentShare.com.