You Lost Your Roommate, Now What?

Shared ApartmentRoommate situations are almost always temporary. Someone gets a better job, finds a significant other, or there is a falling out. But, once a roommate does move out, you have a few decisions to make. This could be looked at as a good thing — a new opportunity. But, before you make any decisions, consider these questions.

Can You Handle the Rent Solo?

You had a roommate, but was the reason to pay the rent? If you can’t afford the rent on your own, you could downsize to a one-bedroom apartment or find another roommate. But, you’ll need to act fast, because that rent has to be paid. If your income situation has changed and you can afford it, use the opportunity to turn that spare room into an office, library or just a guest room for family and friends.

Where Will You Find a Replacement Roommate?

Finding a roommate isn’t easy. There are websites that bring roommates together, but you’ll be living with a stranger. Ask around work or even friends to see if anyone wants to fill the vacancy. Just remember they will have to not only pass your inspection, but the inspection from your property manager — that includes income and credit checks.

Is Your Lease Up?

If your lease is up, then you could just move to a smaller apartment and save yourself the hassle of a roommate. These days more people are opting to live alone that try the roommate situation — can you blame them? With the lease up, you have the opportunity to find something even better that suits your budget and needs. Sit down and decide what you’re looking for in a new place — including amenities in the community. You might even luck out and find a two-bedroom for cheaper that you can still afford on your own.

What’s the Contract Situation?

If your roommate is leaving, what is the contract between you two? Moving out before the lease is up means your roommate is still responsible for their share of the rent — regardless if they move. Check your property contract or the contract between the two of you and make sure your roommate is fulfilling their obligations. While they have their reasons for moving out, it isn’t fair to leave you with the rent and the task of finding a new roommate mid-lease either. See what you can work out with your soon-to-be ex roommate regarding rent. Maybe they will be willing to forfeit their half of the security deposit or pay the rent until you can at least replace them.

May 2014