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When living with roommates, it's advisable to fill out a roommate agreement. This document should outline financial responsibilities, such as how much each person pays in rent, especially if there are disparities in room size or amenities. For instance, if one person pays $800 for a larger room while another pays $200 for a smaller one, the agreement should reflect these amounts to avoid disputes. It’s also important to clarify which utilities will be in each person's name, as this can affect credit building and financial risk. Additionally, establishing a guest policy is recommended to manage shared living situations effectively.
