That’s genius! . Unfortunately landlords are a bunch of airheads and this only applies when people get into a new house at the same time, because it would be impossible to apply where one the rooms is already occupied and the new tenants are just cash cows for the landlord without reduction of price for the present tenant. Another possible event is that the old roommate declines this system which would make him/her pay more for the room he/she already rents due to competition. Anyways, Thank you for the amazing video.
Thank you for this video. I think you have found a nice method, but your method will always give a big surplus, then you must decide how to divide the surplus in a fair way… you are back to square one. If you instead base the rent on the second highest bid, then you might get a shortage, but you will get closer to the actual rent: 825+700+550 = 2075 The lack of 25 can be added: 835 + 708+ 557 = 2100
RUclips algorithm should promote this channel more. I am enjoying binger watching it more than any Netflix show
That’s genius! .
Unfortunately landlords are a bunch of airheads and this only applies when people get into a new house at the same time, because it would be impossible to apply where one the rooms is already occupied and the new tenants are just cash cows for the landlord without reduction of price for the present tenant. Another possible event is that the old roommate declines this system which would make him/her pay more for the room he/she already rents due to competition.
Anyways, Thank you for the amazing video.
This is a very good point! This video assumes the three people are going into the rooms at the same time, and negotiating among themselves.
Very interesting !!
Thank you for this video. I think you have found a nice method, but your method will always give a big surplus, then you must decide how to divide the surplus in a fair way… you are back to square one. If you instead base the rent on the second highest bid, then you might get a shortage, but you will get closer to the actual rent:
825+700+550 = 2075
The lack of 25 can be added:
835 + 708+ 557 = 2100
Wow! I like this excellent advice to divide the rent !!
I wish I would've found this sooner
Thank you for your interesting video :) from S.Korea.
Was the rent including administrative fee, parking fee, and pet fee(if had any pets)
Delightfully fair
Great video 👏👏👏👏👏you don't happen to have an excel sheet for just splitting rent/bills based on income 😇
What if there is a tie
The classic economist answer would be to flip a coin or some other random mechanism for deciding if that happens.
@@AshleyHodgson and what if no one wants a room and they all offer 0?
Very interesting !!