Going flatting

Sorting out the bills and expenses

Setting up an account for rent and bills

If the flat is reasonably stable, you might want to set up a joint account for the rent and/or expenses. Each person makes automatic payments into this account, from which rent and bills are paid. Setting up direct debits from the joint account will make sure bills are paid on time and lets you take advantage of any prompt payment discounts.

It’s a good idea for one or two flatmates to keep an eye on the flatting account, just to make sure it’s all working as it should be.

Utility bills

Whose name will go on the bills for power, internet, etc?

If it's yours, you’re responsible for payment even if the flatmates leave without paying. It's a good idea to have everyone’s names on bills or share them around to reduce the risk.

It's worth reading the meters regularly so you're not hit with a big bill after your flatmates have moved out. A large unpaid bill could have a bad effect on your credit reports, which could limit your choices in future.

A separate account for expenses

One way to manage expenses while flatting is to share payments as bills come in or pay a regular amount into a ‘kitty’ – a specific fund to cover bills and groceries. Typically one person is in charge of the kitty.

Managing extra cost and furnishings

As well as rent you'll need to pay power, phone, internet and sometimes water bills. Costs vary from flat to flat and suburb to suburb. You may also need to pay bonds to get set up with power and other services.

There may be lots of things you suddenly need when flatting, like a couch, washing machine or TV.

In a large flat or with new people, it might be easier to hire appliances and split the rental charge. That way everyone knows exactly how much each person's share is and there's no argument about dividing things up at the end.

Sometimes it’s easier, although more expensive, to choose a deal that doesn't require a deposit.

Shopping together

Sometimes it’s easier for the whole flat to do the weekly shop together. That way everyone pays upfront and there’s no chance of anyone dipping into money for rent or bills.