Looking for a Roommate in NYC? Here is a Roommate Agreement Guide along with a Sample Template for New Yorkers


Getting a roommate in NYC is a huge deal, and it comes with several incredible benefits. For starters, you can save up more since you’ll share the cost of rent and other expenses with your roomie. Besides, you’ll have someone to count on during your times of need. It can also lay the foundation for a lasting friendship with your housemate.  

Before you settle in your new place with your roommate, sign a roommate agreement. This article provides this document’s guide and a sample template for New Yorkers. 

What is a Roommate Agreement? 

A roommate agreement is a common legally binding contract signed by two or more people sharing the same living space. This document is meant to create a comfortable and safe living situation for housemates. Note that this contract doesn’t involve the lessor, and it is different from a lease agreement.

Top Things to Include in a Roommate Agreement 

If you plan to draft a roommate agreement with your roomie, hire a competent attorney in NYC to guide you through the entire procedure. There are various details you should include in the contract. Here are a few of the most critical ones. 

Basic Information 

A roommate agreement should contain basic details about you, your roomie, the lessor, and the place you’re sharing. These include your names, the apartment’s address, and the date when you sign the contract. 

Rent and Security Deposit

How much rent will each party pay for the rental apartment? Specify the amount you and your roommate will provide at the end of every month in the contract. If the leaseholder also requires a security deposit, include the amount and when or how they will return it. 

The Terms of Contract Termination 

As with all contracts, the roommate agreement should also have conditions that could lead to the contract’s termination. If you and your roommate have decided to only live together for a particular duration, write down the date when that period ends. 

House Rules 

It can be pretty challenging to live together with your roomie without house rules. That’s why you must state them in your roommate agreement. They should include if any of you should keep pets, throw parties, smoke, drink, and allow your partners or friends to sleep over. In the house rules, you could also talk about every party’s occupancy areas and whether you are allowed to touch or use each other’s personal property. 

Household Chores 

This is another essential part of the roommate agreement such as NYC subletting laws. It is where you agree on each occupant’s household chores, such as cleaning. While some responsibilities can be fixed, others should not. Your schedules may change and affect your capabilities to do some tasks. If, for instance, you are stuck somewhere and unable to do the dishes, your roomie can do it if they are available. 

Take your time to draft your roommate agreement to ensure that you don’t omit some essential parts. In addition to the details we’ve mentioned above, include things such as how you’ll pay for utilities and any damages. 

Below, check out a sample roommate agreement template for three housemates. The number of individuals living in the same space could affect the design of the contract. 

[Sample] Roommate Agreement


On [month/day[year], we, the tenants named below, signed a lease agreement for the residential property at the address listed below. By entering into this roommate agreement, we hope to ensure that rental responsibilities will be understood and shared by all roommates as described in this agreement.


This Roommate Agreement (the “Agreement”) is made by and between [tenant name] , [tenant name] , and [tenant name] , for the residential property at: [address] . We are entering into this Agreement in order to identify the rights and responsibilities of each tenant during the course of the lease agreement.

This Agreement runs concurrently with the lease agreement for the residential property, which is effective from [month/day] , [year], to [month/day] , [year].  


  1. SECURITY DEPOSIT: The total security deposit amount that we paid the landlord for the residence as required by the lease agreement is $ [amount] , which was paid to [“the landlord” or name of roommate] on [month/day] , [year]. Individually, we each paid a portion of the security deposit as follows:


[Tenant name] $ [amount]

[Tenant name] $ [amount]

[Tenant name] $ [amount]


Each roommate will receive his/her share of the security deposit if and when the landlord returns it after the lease term ends. Any deduction(s) from the deposit by the landlord shall be withheld from all of the roommates in proportion to the amount of deposit that he/she paid. However, any damage to the residence caused by a particular roommate or roommates shall be charged only to the roommate(s) who caused the damage.


  1. RENT: Under the terms of the lease agreement, the total rental amount due each month to the landlord is $ [amount] .  Each roommate shall pay the following amount:


[Tenant name] $ [amount]

[Tenant name] $ [amount]

[Tenant name] $ [amount]


Rent must be paid in the form of (indicate form, e.g., “cash/check/cashier’s check”) to [ex: “landlord” or name of roommate] . The rent is due on the (e.g., “first”) day of each month.  


  1. HOUSEHOLD SUPPLIES: A single ledger (with item description, cost, and date of purchase) will be kept listing all household supplies purchased by each roommate. The supplies may include such things as paper towels, toilet paper, cleaning fluids, dish detergent, foil, plastic trash bags, scrub brushes, and any other goods needed for the home which all roommates will share. The purchaser of household supplies will be entitled to reimbursement from the other roommates.
  2. KITCHEN USE AND CLEAN-UP: (check one)

___ Food expenses will be shared equally by all roommates.  

___ Food will be purchased by each roommate individually. 


Food may not be borrowed without the purchaser’s approval. Each roommate will have [“separate” if available] storage space for his/her groceries. Roommates may choose to share in meal preparation and clean-up. Each roommate will clean up the kitchen after his/her use.  


  1. PERSONAL PROPERTY: All tenants agree not to use or borrow other roommates’ personal item(s) without the approval of the roommate who owns the property. Any exception(s) to this rule will be clearly stated and agreed upon, and the roommate who owns the property retains the right to change his/her mind about sharing his/her property. Any personal property that is borrowed will be used respectfully and returned in the same condition. If any damage is done to a roommate’s personal property, the roommate(s) responsible for causing the damage will compensate the roommate who owns the personal property for his/her loss.


  1. CLEANING: Each roommate agrees to share the responsibilities of cleaning and maintaining the residence, which may include dusting, vacuuming, emptying trash, mopping/sweeping floors, cleaning bathrooms, and other duties. 


  1. CLEANING SCHEDULE: (check one)

____ Each roommate agrees to the attached cleaning schedule (attach cleaning schedule). The schedule indicates when each roommate will complete his/her assigned cleaning and maintenance duties.


____ All roommates will work together [“at a designated time”] to clean/maintain the residence.


  1. ADDITIONAL AGREEMENT TERMS: (The following items have been known to occasionally cause conflict between roommates. If any of the following might become an issue, present a problem, write out any needed additional agreements and attach. Check all issue you are uncomfortable with)  


Smoking/alcohol/drugs ____ Parking ____


Cleanup after parties/guests   ____ Sound system use ____

Phone messages ____ Keys ____


Quiet hours for studying and sleeping ____ Overnight guests ____


Behavior of guests ____ Shared areas (bathrooms) ____




The following services have been arranged and paid for as follows:

Item Account in Name of Amount of Deposit Deposit Paid By How Bill Shared Name Roommates Responsible for payment
Cable TV


This Agreement represents the complete and final understanding of the roommates’ intent. All preliminary discussions and negotiations by the roommates are merged into and superseded by this Agreement. Any modification to this Agreement must be in writing, signed by all roommates. 

We, the undersigned, agree to the above terms.




 [Name] [Date]

 [Name] [Date]

 [Name] [Date]

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Why a Bridge Loan Can Give Buyers an Edge?


Are you planning to buy or build a new home? If you don’t have a lot of savings for cash buying, you will probably need some proceeds from your current home’s sale to help you afford your new home. However, buying a new home while at the same time selling your current home can be stressful and overwhelming. You might find yourself moving out temporarily from your current home before you can buy your next home. That’s why a bridge loan against your current home comes in handy to offer an easier alternative.

What is a bridge loan and how does it work?

A bridge loan is a form of short-term financing that is given to homeowners who need to sell their current home before they can buy a new one or build one. As a homebuyer, when you apply for a bridge loan, the lender uses your current home as collateral. The amount of bridge loan that you can qualify for will depend on your home equity. In most cases, bridge loan lenders give up to 80% of your current home value.

Since bridge loans help homebuyers fund their new home purchase even before selling their current home, it gives them a competitive edge during bidding as they are able to waive the sale of their own home contingency when making an offer for the new home.

A bridge loan can be used for a down payment, closing costs, clearing the remaining balance for your current mortgage, or cater for construction expenses for homeowners who want to build a new home.

Different bridge loan structures have different repayment formulas. Depending on your current situation, you can opt to pay back your loan either on monthly basis, pay interest-only, or as a lump-sum payment.


How to apply for a bridge loan

There is no formal structure for lending bridge loans. The requirements for any borrower differ from one lender to another. However, there are some common requirements that homeowners must meet in order to qualify for a bridge loan.  One such factor is high credit score as they are much riskier to lend compared to other loan options. Lenders also prefer borrowers with a low debt-to-income ratio and high home equity.

There are some fees that homeowners pay when applying for a bridge loan. Some of the common ones include; administrative, appraisal, origination, interest, taxes, and various title fees. The amount charged will also vary with the lender and borrower’s current mortgage balance. For the best deals and rates, it’s always advisable for homeowners to shop around and engage various lenders before making their final decision.


What are the benefits of bridge loans?

If you are wondering whether bridge loans are the best option for your current situation, consider the following pros:

Pros of bridge loans

  • They help homeowners from servicing two mortgages at the same time
  • As a homeowner, you will not be in a much hurry to sell your current home
  • When making an offer for your dream new home, you will not need a sale contingency thus, giving your bid a competitive edge
  • You can continue staying in your current home while you shop for your new one or as you build
  • Bridge loans have fewer formalities compared to other financing options
  • It helps homebuyers make down payments without having to make a lot of savings

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