Financial Algebra Ch. 7.1 - 7.4 Vocabulary

The person who rents an apartment.

• Landlord

• Tenant

• Roommate

• Occupant

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.L.K.5A

The person who owns the apartment, house, townhome being rented.

• Landlord

• Tentant

• Roommate

• Occupant

Tags

CCSS.L.11-12.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

A written agreement between the landlord and the tenant. Defines detailed terms of rent.

• Rent

• Agreement

• Lease

• Mortgage

Tags

CCSS.L.11-12.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.8.2D

CCSS.W.9-10.2D

Evict

• a written agreement between the landlord and the tenant.

• when a landlord legally kicks out a tenant (often due to non payment)

• the person who pays the rent

• money paid in addition to rent at the beginning of the rental term

Tags

CCSS.L.11-12.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

Similar to an apartment but you own (1 residence in a building where other people own/rent as well.)

• Townhouse

• Apartment

• Co-op

• Condominium

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.K.5A

Covers the cost of applying to rent. Usually refundable. Typically between $100 - $400. Includes a background and credit check.

• Application Fee/deposit

• Security deposit

• Pet deposit

• Lease

Money paid in addition to the rent at the beginning of the rental term. Often used to cover damage or non-payment. May be refunded upon move out.

• Lease

• First months rent

• Application deposit

• Security deposit

Tags

CCSS.L.11-12.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

A loan from the bank for a home.

• Lease

• Rental agreement

• Mortgage

• Market value

Tags

CCSS.8.EE.A.2

The amount for which a home could be sold

• Market value

• Mortgage

• Lease

• Property tax

Tax paid by the home owner that helps with government services such as schools, police, etc. Also called Real estate tax.

• Income tax

• Sales tax

• Property tax

• State tax

Tags

CCSS.8.EE.C.7B