I've lived in a number of place in Waterloo so far as a student, here's how many bathrooms/bedrooms they've had
3 bed, 1 bath
4 bed, 1 bath
5 bed, 1 bath + toilet
7 bed, 2 bath
I rarely have problems, usually we didn't even have to work out a schedule, we just happened to take our showers at different times. Living with several room mates like this, I would much rather have the extra space go towards bedrooms or kitchens. A lot of times, we all have our own food and dishes, which means we need a lot of space to store it, and sometimes 2 fridges, plus it would be nice to have space to eat in the kitchen, in some cases, there wasn't really any space for that. Having decently large bedrooms is a plus too, it's the only private space we have. I was lucky to pick my bedroom before the others (and picked the biggest), others can be quite small.