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: Hayden Powers-Ginther

Occupation: Janitor

Monthly Income: $2,900

Roommate 2: Curtis Bayne

Occupation: Plumber

Monthly Income: $3,000

Total Income for 2 Roommates (Roommate 1 + Roommate 2): $ 5,900/ month

Minus 30% for Taxes (Total Income X 0.30): $ 1,770

Net Income (Total Taxes): $ 4,130

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: $ 1770/month

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

2 Bedroom, small dining/living room, 2 Bath, Building has a Gym, Games room and a pool, Laundry
room, small pets are allowed

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:

Hydro
Electricity
Internet
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: None

Cellphone Cost: Roommate 1 $80/month

Roommate 2 $80/month

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

Our apartment has a fridge, oven, dishwasher, washing machine/dryer.

Microwave 200$
Coffee table 50$
Couches 350$
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: $ 170/month bus pass

Car Costs: (if applicable) $ 840/month: gas, maintenance, insurance

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
Eating/Dining Out Costs
Clothes
Entertainment
Personal Supplies
Other costs

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?

None we didnt have any disagreements on our sections, we had the same ideas of what we wanted
from each other as roommates.

Article B:
Which section did you and your roommate have the least disagreement about and why?

We didnt have any disagreements because we arent going to be home much and we had similar ideas
of what we each wanted.

2) What cost amount shocked the both of you the most when completing this activity? Write your
answer below:

The amount that alcohol is going to cost between the both of us. We are heavy drinkers or condoms
cause life is fucking us over.
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

-Keep the noise down after midnight unless we are having a get together.
-Clean up the kitchen and living room, rooms dont matter.
-You can only attend a party if you both can go.
-Temperature stays cool.
-No cigarettes
-No hard drugs
-share food
- Use your own bathroom
-When bedroom door is closed, do not enter.
-Saturdays are ferda boyz
~clause No flushing the toilet before someone showers

4) How has your idea of moving out changed after completing this activity? Two Statements are
required and needs to be attached to this assignment labelled: (Your Name) Statement
Hayden-
My idea of moving out has not changed whatsoever because I feel like one day Im going to move out
and need a roommate and having a roommate like Curtis would be awesome because we have
similarities of what we want. I can see that if I and my roommate didnt get along it wouldnt be very
good, but this project hasnt changed my opinion.

Roommate Agreement Checklist:

The Roommate Agreement Project

The Pad
Kitchen and Common Room List
TD Monthly Budget
The 10 Rules and 1 Clause
(Your Name) Statement