Bandwidth Management

I have a normal home network run through a normal wireless router 6-8mb conection.

Problem is I have is their’s 4-5 flatmates using the connection, some off witch like to run p2p software 24/7. This makes playing online games all but impossible.

What I am looking for is an option to replace the router with one that allows bandwidth controls, about 1mb down 100k up for each pc would be ideal problem is I can’t seem to find one that will do the job.

Cost is no big deal but simple to use would help.