Logistics of Renting

Which of the following lease terms is most likely going to be the most expensive

• Month-to-month

• 3 months

• 6 months

• 1 year

• There should be no difference

Which of the following up-front lease expenses is most likely to be refunded

• First month’s rent

• Last month’s rent

• Security deposit

• Pet deposit

• Application fees

Tyler is excited for his new apartment but was shocked at how much money he needed up front when he signed his lease. The rent isn’t too bad; it’s only $750 a month. However, upon signing, Tyler had to have first and last month’s rent, a $300 security deposit, and a $150 pet deposit. How much money did Tyler have to pay in total?

• $900

• $1,200

• $1,350

• $1,950

• $2,400

Lease agreements are legally binding contracts and if broken could result in lawsuits and damaged credit.

• True

• False

Most lease agreements will contain a provision that allows the landlord to enter the home under certain reasonable conditions.

• True

• False

Most apartments include gas and electric utilities in their rent.

• True

• False

It is always a good idea to walk through the apartment before signing the lease and to make sure the lease is for the same apartment you saw.

• True

• False

Which of the following maintenance issues is most likely going to be the responsibility of the tenant and not the landlord

• Replacing the carpet

• Painting the walls

• Replacing tiles in the kitchen

• Installing blinds on the windows

• Changing burned out light bulbs

Most apartments, if they allow pets, have restrictions on certain breeds.

• True

• False

Avery and Kara decide to get an apartment together after graduation. They both are on the lease and for a while things go well until one month Kara loses her job. Which of the following best describes what will happen if Kara can’t pay her half of the rent?

• Avery is not required to pay any rent if Emily doesn’t pay her share.

• Avery will have to pay the entire rent or both of their credit scores could be damaged

• Avery’s credit will be safe as long as she pays her half of the rent.

• Avery will have to pay the entire rent, but Kara’s credit will still be damaged

• Avery will only have to pay her share of the rent and doesn’t have to worry about Kara because they sign separate contracts