#2 Semester Review

Front

What is a rental agreement?

Back

A legal contract between the tenant and landlord that states how much rent will cost and the length of the rental agreement.

Front

What is a reference in the context of renting?

Back

Someone that can vouch that you are a responsible individual.

Front

What is the minimum payment on a credit card?

Back

The smallest amount of a credit card bill that a credit card holder must pay each billing cycle, usually between 3-10%.

Front

How must you give notice to vacate an apartment?

Back

In writing to the landlord 30 days before vacating.

Front

What is the best way to use a credit card?

Back

To spend very little on it and always pay off in full.

Front

What does a security deposit represent?

Back

A sum of money held by the landlord to cover potential damages or unpaid rent.

Front

What is the role of a landlord?

Back

The person who owns the property and rents it out to tenants.

Front

What is the purpose of a lease?

Back

To outline the terms and conditions of renting a property.

Front

What is a tenant?

Back

An individual who rents and occupies a property owned by someone else.

Front

What is the significance of a credit score?

Back

It is a numerical representation of a person's creditworthiness, affecting loan approvals and interest rates.