You’ve finally done it – wrangled a group of mates, signed the lease, and locked in a house that mostly ticks the boxes. But now comes the tricky bit: sorting out the money.

Finances between friends can be a delicate topic, but with a bit of planning and a few ground rules, you can avoid awkward conversations and keep the group chat civil. Here’s how to handle costs fairly in a share house without putting friendships on the line.

Rent: fairness over flat rates

When it comes to rent, the simplest option isn’t always the fairest. Splitting the weekly total evenly might work in some cases, but often, rooms aren’t created equal.

If someone’s got the biggest room, access to the balcony, a private ensuite, or even the only off-street parking spot, it’s reasonable for them to pay a bit more. The same goes if a room comes fully furnished or has extras like air con or heating.

Consider the size, natural light, and features of each room, and have an open conversation before moving in. A fair rent split from day one can prevent tension down the track.

Bills: choose your point person(s)

Unlike rent, bills don’t follow a set schedule or fixed amount. and they can sneak up on you if you’re not organised.

From electricity and water to internet and streaming services, someone needs to be responsible for setting up accounts. In some houses, each housemate takes on one bill. In others, one person handles everything (as long as they’re comfortable managing it).

Whichever way you go, it’s smart to be clear about when bills are due and how payments will be handled. Most share houses split bills evenly, unless there’s a good reason not to (e.g. someone works from home and uses more power).

Tip: start a shared calendar or group chat reminder so no one gets caught out.

Food: decide what’s shared and what’s not

Just because you live together doesn’t mean you have to eat together. For some households, a shared grocery shop and cooking schedule works brilliantly. For others, separate shelves and solo meals are the way to go.

Chat about food preferences, allergies, and routines early on. If a few housemates want to share the basics (milk, bread, butter, etc.), agree on how you’ll manage the cost and replenishment. Clear boundaries around food can save a lot of passive-aggressive fridge notes later.

The little extras: apps can save the day

Then there are the everyday essentials, toilet paper, dish soap, bin liners. These can be the most annoying to manage, but also the easiest to automate.

Consider using a money-splitting app like Splitwise or Beem It. They let everyone keep track of what’s been bought, who owes what, and even settle up without needing exact change or awkward IOUs. You can also create a shared “kitty” for household bits and bobs so no one ends up covering the costs week after week.

Sharing a house should be fun, not financially frustrating. Set the tone early with open conversations and a fair approach to expenses. A little planning now means less tension later, and more time to enjoy life at home.

Ready to make share house living simple? Start with a money plan everyone agrees on.