Skylar Robinson

Wyatt Schnare

Jakob Thompson
Planning 10 Finance
The Roommate Agreement Project

Overview:
You and your friend have decided to become roommates. Both of you have some similar and different
personalities and ways to make the place cool. In order for both of you to survive together, you need to
establish a few things.

Directions:
Given the worksheets below, you will look for an affordable apartment and fill in the required information
in the different sections. You and your partner will hand in ONE Roommate Agreement. Please ensure
both of your names are on the FRONT of this legally binding contract.

PLEASE NOTE: YOU MUST FOLLOW EACH DIRECTION CAREFULLY!

Marks breakdown:

Part 1: ____ / 15
Part 2: ____ / 10

Total Marks: ____ / 25

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Part the First: The Contract
15 Marks

1) Find a Job from the classifieds and estimate ach of your monthly incomes. Assume you will be
working 40 hours per week. If you currently have a job, you may use it for the purpose of this activity.

Roommate 1: Skylar

Occupation: Lifeguard

Monthly Income: $3813.33

Roommate 2: Wyatt

Occupation: Lifeguard

Monthly Income: $3813.33

Roommate 3: Jakob

Occupation: Rec-center clerk

Monthly Income: $3466.67

Total Income for 3 Roommates $ 11093.33

Minus 30% for Taxes (Total Income X 0.30): $ 3328.00

Net Income (Total Taxes): $ 7765.33

2. Find a Place to Rent using Craigslist Vancouver. Give the description and attach one picture of
the living room. Please label this assignment: The Pad Fill in the blanks:

Monthly Rent: $ 1900

What does this place feature? (Bathroom(s), Dining Room, Bedroom(s). etc.)

This place features a dining room, a living room, a kitchen, 1 bathroom, and 3 bedrooms

3. Utilities cost money as well, so if it is not included with your rent, estimate 10% of the rent money
to pay for utilities. If there are utilities included with your rent, make sure that is mentioned. List the
utilities below:

Electricity
Heat
Water
WiFi (40% covered)
Gas

4. You need at least one phone; it can be a land line or a cell phone. Look up different plans from
the various BC Telephone/Cellphone Providers. Fill in the blanks:

Land line Cost: N/A

Cellphone Cost: Roommate 1: $40

Roommate 2: $20
Roommate 3: $40

5. Each of you has your own bedroom furniture, but you need to furnish the kitchen and common
room. Make a list of furniture you will buy or borrow from your parents. Please attach a separate list
with the total to the back of this assignment labelled: Kitchen and Common Room List

Kitchen: Kitchenware (borrowed)

Living room: T.V. + stand (borrowed), ps4 (borrowed), Xbox 1 (borrowed)
Dining room: Table + chairs (borrowed)

6. How are you going to travel from place to place? Discuss this with your roommate. If one of you
already owns a car, then factor in the monthly costs; if neither of you own a car, find out how much a
monthly bus pass is.
Transportation Costs: $0

Car Costs: (if applicable) : $0

Bike maintenance costs: $12

We will be travelling by bike.

7. Using the TD Monthly Budget Template, you will create a monthly budget. In order for you to
survive the Roommate Agreement, you must use the total income from question one to determine your
budget. You will also need to factor in other costs from the previous questions. This must be printed off
and attached to this assignment labelled: TD Monthly Budget. However, you will also need to consider
the other following items:

Grocery Costs: $500

Eating/Dining Out Costs: $200
Clothes: $300
Entertainment: $585
Personal Supplies: $250

Please note, your budget must balance and you cannot go over your budget. You will also need to be
realistic.
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The Second Act: Clauses and Articles
10 Marks

Objective: Given the questions below, you will answer them in full sentences.

1) Article A:
Which section did you and your roommate both have the most disagreement about and why?
We had the most trouble deciding how much money to put towards food. We all eat different
amounts of food and we couldnt come to an agreement on how to much each person would
cost.

Article B:
Which section did you and your roommate have the least disagreement about and why
It was very easy to decide to the total transportation costs because we would all live pretty close
to our jobs. This meant we could travel for close to no money because we would cycle. The only
cost would be a small amount maintenance fees.
2) What cost amount shocked the both of you the most when completing this activity? Write your
answer below:
The price of life insurance was a lot lower than I thought. I always had the idea that it cost a lot
more per month.

3) The Fairness Clause:

To ensure that there is fairness in your Roommate Agreement, you need to create 10 Rules and
1 Clause. A clause in contract law is a written contract that declares that contract to be the
complete and the final agreement between the parties. If you are having trouble creating a cause,
refer to examples from the T.V. Show Big Bang Theory. Please attach these rules to the back of
this assignment labelled: The 10 Rules and 1 Clause
1. Dont take a long time when occupying the bathroom.
2. Refrain from being loud if another roommate is trying to sleep.
3. Try not to eat other roommates food. If you do eat it replace it as soon as possible.
4. If you make a mess of somewhere besides your own room make sure that it is cleaned
up.
5. Replace the toilet paper immediately if you use it all.
6. If you are gaming and someone else wants to use the T.V. you have 20 minutes to finish
up. If you are in the middle of a show/movie you are allowed to finish it.
7. Dont enter another roommates room without knocking
8. Use headphones unless all roommates agree to use a speaker
9. If you break something that belongs to another roommate you must replace it within 3
days
10. Alternate dish duty every day

Clause: If any of the following rules are broken to offender will be in charge of dish duty for an
entire week. This punishment is stackable (if a roommate broke 3 rules they will be given 3
of dish duty). Failure to perform your punishment will result in another punishment of the
another roommates choice.

4) How has your idea of moving out changes after completing this activity? Two Statements are
required and needs to be attached to this assignment labelled: (Your Name) Statement
1. Similarly to the when Im 25 project one of the hardest parts of this project was finding a logical
place to live. I also realize this step will be much harder when I begin looking for a place to
actually live.
2. Living with a roommate seems a lot harder than I originally thought. There were a lot of debates
on certain budgeting topics such as groceries because we all have different thoughts and
preferences. It was also hard laying out some of the rules. This was hard enough deciding with
friends and this could prove to be a lot more frustrating if you didnt know your roommate well.