Jane Lee

Melanie Kim
Samantha Rodriguez

Jane Lee
Melanie Kim
Samantha Rodriguez
Planning 10 Finance
The Roommate Agreement Project
Overview:
You and your friends have decided to become roommates. All of you have some
similar and different personalities and ways to make the place cool. In order for all
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 partners 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:
Part 2:

____ / 15
____ / 10

Total Marks: ____ / 25

-------------------------------------------------------------------------------------------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:

Jane Lee

Occupation:

Teacher for Adult Students

Monthly Income:

$3162

Roommate 2:

Melanie Kim

Occupation:

Day Spa Beautician

Monthly Income:

$3,100

Roommate 3:

Samantha Rodriguez

Occupation:

Home Service Cleaner

Monthly Income:

$4,400

Total Income for 3 Roommates (Roommate 1 + 2 + 3):

Jane Lee
Melanie Kim
Samantha Rodriguez
$10,662.00

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

$3,198.60

Net Income (Total Taxes):

$9,382.56

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:

$5,500

What does this place feature? (Bathroom(s), Dining Room, Bedroom(s). etc.)
The house includes five bedrooms and a den. Along with each bedroom, there
are five bathrooms. Outside, there is only one carport. However, it is unfurnished
and utilities are not included in the rent.

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
Water
Cable
Internet
Phone services
Heating

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:

$15.00/month

Jane Lee
Melanie Kim
Samantha Rodriguez
Cellphone Cost:

Roommate 1 $35/month
Roommate 2 $35/month
Roommate 3 $35/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
1
2
1
6
1
1

Common Room
rugs
couches
high dining table
high chairs
coffee table
lamp

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:

$340

Car Costs: (if applicable)

$12,149.50

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.
-------------------------------------------------------------------------------------------The Second Act: Clauses and Articles
10 Marks

Jane Lee
Melanie Kim
Samantha Rodriguez
Objective: Given the questions below, you will answer them in full sentences.
1)

Article A:
Which section did you and your roommates have the most disagreement
about and why?

We had a slight disagreement with pets. Samantha wanted a cat,

however, Melanie is allergic to pets with fur. However, Jane suggest a fish. We
agreed on it, but we decided to not go through with it because we might forget to
clean the tank or feed them. Another disagreement that we had were the rules. We
all contributed, however, some people didnt quite agree on certain rules that we
discussed.
Article B:
Which section did you and your roommate have the least disagreement about
and why?
As roommates, we were all satisfied with the house. The location was
fine and it was a beautiful house for a good rent cost. It was not too close to Jane
and Melanies work place. It had spare rooms that we could use for other purposes
and the design has a modern look which satisfied us all.
2)

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

The cost of the necessities (e.g. utilities, car, and phone line) made me quite
anxious, due to the fact that I like to save and I would feel like I wont have enough
money to pay for everything that must be paid for.
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
The 10 Rules:
1. No pets
2. Wash your own dishes
3. Go by assigned laundry days
4. Once a week, we all go out together
5. Once a week, we do a big cleanup of the house
6. There is a noise curfew at 10:30 pm
7. Inform each other of guests coming over
8. Ask before you take roommates belongings
9. No smoking
10. Exercise together once a week

Jane Lee
Melanie Kim
Samantha Rodriguez
The 1 Clause:
1. If you use a dish, you must wash it yourself and have the courtesy to wash
your roommates.
4)
How has your idea of moving out change after completing this activity? Three
Statements are required and needs to be attached to this assignment labelled:
(Your Name) Statement
Jane: I have always wanted of living with my friends.
Melanie: Ive always dreamed of living without my parents. All on my own, it
really didnt matter whether I had a roommate or not. I would prefer to move out
with someone I feel comfortable with, but as long as I wasnt under the same roof
with my parents. There was lots of new things I wasnt ready to take on, like the
responsibility of keeping a roof over my head.
Samantha: I have always wanted to live on my own. No roommates, just
myself and possibly a cat. Now knowing how much utilities, owning a car, needing
groceries, and have a phone actually cost, it feels like I am pressured to get a higher
paying job or more than one job to make ends meet.
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