Finding an apartment lesson

Which of the following best describes a lease?

• A legal document that contains all the details of the agreement between the landlord and renter which is signed by both parties

• An informal agreement between the renter and the landlord in which the renter signs it when he or she is thinking about renting an apartment

• A document that describes in detail the apartment for rent

• An agreement between someone searching for an apartment to rent and his or her real estate agent

Which of the following are considerations in choosing an apartment:

• Cost

• Proximity to work

• Available to mass transit

• All of the above

Your landlord has the right to:

• Enter your apartment without your permission to repair a leaky valve in your faucet

• Terminate the rental agreement within 30 days if she finds a better tenant

• Charge you the late fee stated in your lease if your rent payment is late

• Terminate your lease if she discovers you have lost you

If you cause damage to your apartment, your landlord can:

• Evict you from your apartment without notice

• Use all or a portion of your Security Deposit to pay for the damages

• Raise your rent during your lease agreement term

• None of the above

In which of the following locations could you find an ad for an apartment?

• In local newspaper

• in the phone book

• On the internet

• All of these

Most landlords require the renter to pay a security deposit at the beginning of the rental agreement. Which of the following is true about the security deposit?

• The deposit can be used to repair damage caused by the tenant during the term of the lease

• The deposit can never be greater than $100

• The deposit is kept by the landlord to cover his management costs

• None of the above

Which can be found in a rental agreement?

• The length of your lease

• The price of the rental per month

• The name of the tenant

• All of the above

Which of the following information would not be found in a typical lease?

• The beginning and ending dates of the rental agreement

• The address of the unit being rented

• The amount of the monthly rent payment and the day of the month it is due

• The name of the previous tenant

The most important thing to consider when choosing an apartment is:

• Whether or not pets are allowed

• If you can afford to pay your rent and other costs on an ongoing basis

• Whether or not the apartment is located on a bus line

• How many bedrooms are there

You have been living in your apartment for 6 months on a one-year lease agreement. Today you received notice that your rent will be increased by $50 starting the first of next month. Are you obligated to pay the new rental price next month?

• Yes

• No