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Beware! Even Your Roommates Can Damage Your Credit

It is often a popular choice for many to resort to roommates so that their housing costs could be lowered. Well, it may not have any automatic impact on your credit if you choose to share your address with somebody else, even if other person does not have a good credit rating. But the financial habits of the roommate with whom you will be sharing apartments for rent can affect your credit score as well, especially if they do not make payments of shared bills on time. So, follow the below ideas and don’t let anyone else damage your credit.

It is advisable that when you share garage apartments Houston with someone else you must set ground rules for bill and space sharing right at the beginning. It should also be decided who should be on lease (it may be made necessary by a landlord for both the people to become part of the lease) and decide how you will be paying bills every month.

Sometimes, it is made obligatory by landlords for all the adult residents to be the part of the lease and both the roommates will be liable to pay the rent every month. In the case of late rent payments, landlords have the right to ask everybody who is part of the lease. Also, if the roommate does not pay their rent share, then it is possible that both of you will be evicted by the landlord, no matter if you were right on time with your part of the rent payments. The eviction will appear on the credit report which will then cause problems for you in renting apartments in future, particularly when there is some unpaid balance that may be associated with your eviction.

Utilities are also shared by the roommates living in most Houston apartments. Sometimes, you are required to pay the utilities to your landlord directly, but usually, utilities are also in the name of the two roommates. It is your duty to pay for the utilities that you are responsible for, regardless of the oral agreements between you and the roommate. If the roommate is not paying their part of utilities, you must make sure that you pay whatever is your responsibility and then collect payments from the roommate some time later.

If you are responsible for utilities, you should show bill’s copy to the roommate as soon as it arrives and get their share well in advance so that you can pay the bill by the due date. In case if the roommate is responsible for the utilities then you should ask them for bill’s copy every month and give them the amount due on you before the due date. It should be ensured that your roommate pays the bills on time and is also honest about your share in the bill amount.

To put it simply, ensure that all bills that are your responsibility must be paid, no matter if you have to pay them all on your own to protect your credit.