House sharing? Here’s a good tip

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When you move in with a friend or partner, make sure the utility bills for services to the property are in joint names. There are two good reasons for this:

 

1. Having both names on these accounts will help to build each person’s credit rating;

 

2. If your friend/partner moves out, they are still responsible for paying their share of the expenses incurred during their stay.

 

In the case of a split, both parties should make sure the name/s on each account are updated immediately after the joint bill has been paid and bond refunded.

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