How do you divide the rent on a 3 bed apartment when the master has its own walkin closet and bath?

Question

The master bedroom has 28000 sq footage, its own master bath with 2 sinks and a huge walkin closet. The second bedroom has 20000 sq footage and shares a bathroom with the third bedroom that has 17000 sq feet. My friends and I are having a real hard time finding a fair price for each and need help?

Answer 1

Estimate the rent you are paying and then price per square foot you are renting for.

It seems rather HUGE. 28000 sq. feet for the master bedroom alone? 20000 for the other room???

How big is the rest of the house?

Anyway.....

For example:

Home is 25,000 sq. feet

Master is 5000 sq. ft.

other room is 3000

3rd room is 2000

If rent is 12,500.00 for example, that is .50 per sq. foot

Multiply each rooms sq. ft. by .50

then divide the remainder of the rent by 3

In the example above:

Master Bed would pay $2500 + $4000 per month

Second Bed pay          $1500 + $4000 per month

Third Bed would pay    $1000 + $4000 per month

This seems like a ridiculous number and I was not even using your numbers above!!

This would make lots more sense with some regular square footage, but I hope it helps.

Answer 2

I would think the best way would be to bid for each room.  Set a minimum base price of say $200 per room.  Your total bids may not add up to cover the total rent.  If this is the case split the difference and add that amount to each rent.

For example; If the total rent is $1000 and bedroom 1 gets a winning bid of $400, bedroom 2 $300, and bedroom 3 $200, then split the remaining $100 between each room.  Rents would then be $433, $333, and $234(somebody has to give an extra buck here!)

Answer 3

Those are enormous sized rooms. Are you sure? Do you mean 280, 200 and 170 sq feet. Anyway. I would say that it should be 40 % for the big room and 30% and 30% for the smaller ones.

Answer 4

Wow!  A master with 28 000 square footage - and the other two bedrooms have 20 000 and 17 000?  Why on earth are you paying rent in a place like that?  You are obviously extremely rich.  My whole house is only 2000.

Or, you could do what Fe said - that sounds fair to me.

Answer 5

The bigger room should pay 40%, and the other two roomates 30% each.

Answer 6

I think you might be alittle off on your sq feet, my house would fit in the master bedroom like 10 times, anyways, I'd divide it by 3, then take 5% off of party 2, and party 3, and add 10% to party 1, I agree he has his own bath, he should pay for that privilege,