You have decided to move into an apartment with your best friend shortly after graduating from high school. Create a roommate agreement that makes sure you and your friend agree on your living arrangements.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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You have decided to move into an apartment with your best friend shortly after graduating from
high school. Create a roommate agreement that makes sure you and your friend agree on your
living arrangements.
Transcribed Image Text:You have decided to move into an apartment with your best friend shortly after graduating from high school. Create a roommate agreement that makes sure you and your friend agree on your living arrangements.
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Step 1

Sample agreement which made between the two room matesMr. XXX andMr. YYY

Room mate agreement 

This Roommate Agreement is made on this 1/1/22  , by and among or between the following roommates: Mr.XXXX and Mr.YYYY (a “Roommate” and collectively the “Roommates”).

Purpose. The Roommates are tenants at the premises located at Building no 24, washington town street, New York for a term beginning on 1/1/22 and ending on 1/1/23 continuing month-to-month until terminated. The Roommates hereby agree to abide by the terms and conditions contained in this Agreement and to share the responsibilities and obligations while living at the Premises.

Rent. Each Roommate shall pay his or her share of the rent in the following amounts:

- Mr.XXX; Amount of Rent: $_1000

- Mr.YYY; Amount of Rent: $ 1000

The rent is due on 5th day of each month to the landlord. Each Roommate will deliver his or her share of the rent on or before the due date. If a Roommate does not pay the rent by the due date, any late fees that accrue or any other costs will be the sole responsibility of that Roommate. 

The rent includes access to and use of all common living areas which include the following

  •   Living room  
  •   Kitchen  
  •   Bathroom  
  •   Family room  
  •   Laundry room  
  •   Dining room  
  •   Basement

Security Deposit. Each Roommate is responsible for a share of the security deposit in the following amounts:

- Mr.XXX; Amount of Security Deposit: $500

- Mr.YYY ; Amount of Security Deposit: $500

Each Roommate will receive his or her share of the security deposit, minus any amount applied by the landlord divided , after the termination of the lease term unless any deduction is there

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