Renting an Apartment

Renting an Apartment

Career & Life Planning

Mrs. Reynolds

Multiple Choice

The owner of a house or apartment to whom the tenant pays rent to is called the ________.

• Tenant

• Rental Agreement

• Landlord

• Security Deposit

Multiple Choice

The person that rents from a landlord is called a _____________.

• Tenant

• Landlord

• Reference

• Security Deposit

When you decide to rent....

• Think about

  • How much rent you can afford

  • What location you are looking in

  • Type of place you need

    • House or apartment?

    • How much room?

    • Do you need a yard?

    • Does this property fit my needs?

Multiple Choice

When it is time to look for a place of your own, it will be important to think about:

• the type of place you need

• the location of the place

• how much rent you can afford to pay

• all of the above

Multiple Choice

When selecting a place to rent it is important to choose a place that:

• you really want and desire

• fits your needs and is affordable

• you find first

• None of the above

Filling out the application

• Almost all landlords require an application

  • Application fee

  • References of rental history

  • Credit check

• Look at the price of rent

  • It is recommended that your income be 3x the amount of rent

  • Rent should not exceed 30% of your take-home pay

Multiple Choice

In order to rent a place, a landlord may request:

• that you own a car

• references and/or a credit check

• proof of vaccinations

• All of the above

Multiple Choice

Financial experts recommend, when you rent, the amount of rent you pay should not be more than:

• 10% of your take home pay

• 30% of your take home pay

• 50% of your take home pay

• 70% of your take home pay

You've been approved! Now what?

• Pay a security deposit

  • Ensures that the property will be well taken care of

  • If there are any damages, the deposit will help cover the cost

  • If there are no damages, the deposit will be returned to you after your lease ends

• Your landlord will let you know what day you can move in

Multiple Choice

The security deposit:

• will never be returned to the tenant

• will be returned to the tenant after any damages are deducted

• will go towards rent

• all of the above

The Rental Agreement

• Also called Lease, tenant rights, and/or landlord rights

• Legal contract between the landlord and tenant (renter)

• Must be signed before you can move in

• States how much rent is and any associated fees

  • Late fees

  • Pet fees

• States the length of the rental agreement

  • Usually 1 year or 12 months

• Be sure to carefully read the rental agreement BEFORE signing!

Multiple Choice

A rental agreement:

• is a legal contract between the tenant and landlord

• states how much rent will cost

• states the length of the rental agreement

• all of the above

Multiple Choice

A rental agreement is often referred to as:

• renter's rights

• landlord's rights

• a lease

• all of the above

Multiple Choice

True or False:

It is important to make sure you carefully read a rental agreement before signing it.

• True

• False

Multiple Choice

True or False:

The rental agreement doesn't have a lot of important details about your responsibilities as a tenant.

• True

• False

Multiple Choice

When you decide to move out of an apartment,

• you can move out anytime you want to without penalty

• you must move out on the first day of the month

• you must give the landlord the required notice stated in the rental agreement

Multiple Choice

True or False:

When renting a place, it is important to select a place where you feel safe.

• True

• False

Multiple Choice

True or False:

When you start off renting a place, the owner will only require the first month's rent and no other money down.

• True

• False

Multiple Choice

The written agreement between the renter and landlord is the called the __________.

• Tenant

• Rental Agreement

• Security Deposit

• Obligation

Multiple Choice

Money that the renter deposits with the landlord in case the renter damages the house is called what?

• Tenant

• Rental Agreement

• Security Deposit

• Reference