Rent

The terms of a lease should include all of the following EXCEPT the 

• amount of the rent and any late fees. 
• names of the persons who live next door.
• policies you are expected to follow.
• names of all roommates and the landlord. 

When signing a lease, it is recommended that you 

• give it a quick review and sign before someone else gets the apartment you want. 
• read carefully and sign even though you are not sure what some of the terms mean.
• read carefully and sign only when you understand what everything means.
• read carefully and sign, even though you know that you will not agree to all of the terms stated. 

Renting an apartment should involve 

• making an emotional decision because you want to be happy where you live.
• setting a strategy to get what you need for the amount you can afford.
• setting a strategy to get what you want, even though it is more than you can afford.
• making a decision based only how much it will cost to live there.

Which of the following is an ADVANTAGE to renting a place to live? 

• Limited expenses for maintenance. 
• Limited expenses for entertainment. 
• Limited options for size and location. 
• Limited rights for redecorating. 

A typical housing lease may require a tenant to:

• Repair certain types of damage to the property
• Maintain the inside as well as the outside of the property
• Avoid participating in illegal activity on the property
• All of the above

Renting provides _________ flexibility but can lead to _________ costs in the long-term.

• greater; lower
• greater; higher
• less; lower
• less; higher

All of the following components are commonly found in rental housing agreements EXCEPT:

• Whether the renter can have pets in the house
• How much the renter will pay
• What type of renter’s insurance the renter must buy
• Which repair types the renter will be responsible for

What is the renter's rule?

• You should spend no more than one week's income on monthly rent
• You should spend no more than one month's income on weekly rent
• You can borrow up to 2.5 times your annual income to rent
• Check yo credit

A policy that covers a renters personal property against loss by theft, fire, or other hazards. 

• Security Deposit
• Equity 
• Renter's Insurance
• Principal

The contract between a tenant and a landlord

• Rental agreement
• Lease
• Deed