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Let my horror story be your cautionary tale: If you have roommates, you need a contract. What it is and what to consider when creating one

For everyone to peacefully coexist in the same home, it鈥檚 key to establish rules and boundaries around bills, groceries and more.

5 min read
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When I moved into my first 海角社区官网apartment with two friends in my second year of university, we were so thrilled to have our own place that the idea of a roommate agreement didn鈥檛 even come up. The three of us signed the lease, decided who would take what bedroom and that was that. We didn鈥檛 realize that we were setting ourselves up for a year of drama that ended with two of us almost not getting our $500 security deposit back. Since then, I鈥檝e learned the importance of establishing financial (and personal) boundaries up front when it comes to living with others.

The last census in 2021 found that roommate households grew faster than any other housing arrangement, particularly among those aged 20 to 34, since 2001. Fifteen per cent of Canada鈥檚 population between those ages reported living with roommates.

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Lora Grady

Lora Grady is a personal finance reporter for the Star. Reach her via email at lgrady@thestar.ca.

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