Parker Weeick

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: Parker Weick_______________________________

Occupation: Fork Lift Operator___________________________

Monthly Income: $2,880/month__($18/hour)___________________

Roommate 2: Walker Dunn_______________________________

Occupation: Flat Roofer_________________________________

Monthly Income: $2,880/month ($18/hour)____________________

Total Income for 2 Roommates (Roommate 1 + Roommate 2): $ 5,760__________________

Minus 30% for Taxes (Total Income X 0.30): $ 1,728__________________

Net Income (Total Taxes): $ 4,032__________________

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: $ 1200/month___________________

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

-Close to elementary and high school, near bus stop and close to shopping centre
and all other amenities
-Quiet peaceful neighborhood
-Kitchen includes stove oven and refrigerator
-Includes BC hydro, Heat, Cable and Internet
-Private covered entrance
-No smoking or drugs inside and no pets allowed
-Preferably for small family
-Parking is available on driveway
-References required including pay stub and proof of income at viewing
-Looking for long term tenants a minimum of one year rental commitment.
-2 Bedrooms and 1 bathroom

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:

BC Hydro
Heat
Cable
Internet
Kitchen Appliances
Parking on Driveway
__________________________________
__________________________________

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: $ 25/month(first 3 months). Original: $30/month

Cellphone Cost: Roommate 1 $ 40/month__________

Roommate 2 $ 40/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
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: $ 93/month_____________________

Car Costs: (if applicable) $ _no car_______________________

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?

Shower time because we both are used to showering in the morning and we had to plan shower
time accordingly.

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

TV time because we plan on having two different TVs meaning we wouldnt have to really
interfere with the others TV time.
2) What cost amount shocked the both of you the most when completing this activity? Write your
answer below:

The apartment costs because the prices that are demanded by the owners were very varied and
some apartments seemed more reasonable than others. It took us a while to finally find a
reasonable suite that benefited both of our commutes to work and had a cheaper price.

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

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

Parker: I never realised how many things you really had to consider when moving out like simple things
like cups, dishes and cutlery. It was also very hard to find a place to stay which was in between mine and
Walkers work that was in a reasonable price range. There were many places and apartments that I
thought were very unreasonable with their prices in comparison to others on the website.

Walker: I too saw it as hard to think and consider all the things we need to have in our agreement and
the things we need to borrow and buy. We really had to think about what was important, what we
need, what we dont need, and the hardest part was rule making. Finding a job close to the apartment
was another challenge we surmounted. In the end we figured it out.

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