EXTRA CREDIT 12/13-12/16/24 ONLY

Front

What is an advantage of renting a place to live?

Back

Limited expenses for maintenance.

Front

What is an advantage of buying a home?

Back

Builds equity over time.

Front

What is the process of terminating a lease?

Back

Giving notice to the landlord and following lease agreement instructions.

Front

What is a security deposit?

Back

A sum of money paid by a tenant to a landlord or property owner before moving in to cover any damages or unpaid rent at the end of the lease term.

Front

How can a lease be renewed?

Back

Signing a new lease agreement.

Front

What are the responsibilities of a landlord?

Back

To maintain the property and ensure it is habitable.

Front

What is a lease agreement?

Back

A legal contract between a landlord and tenant outlining the terms of renting a property.

Front

What does it mean to build equity?

Back

Increasing ownership value in a property over time.

Front

What is the difference between renting and buying?

Back

Renting involves paying for temporary use of a property, while buying involves purchasing ownership.

Front

What is a lease term?

Back

The duration for which a lease agreement is valid.