EPF - Chapter 5 - Money and Credit management

What is renting?

• when you decide to buy your own apartment

• when you pay the owner every month to live in the apartment

• when you pay the landlord to store your things there

• when you decide to let someone use your apartment

What is rent?

• the money you pay a car dealership every month

• a fee charged to store your things in storage

• a fee charged for the use of property or land

• the money you put doen as down payment

Who is a landlord?

• a person who pays a dealership monthly for a lease

• a person who may monthly mortgage for a house

• a person who pays for the right to live in a residence owned by someone else

• the person who owns the property that you rent

Who is a tenant?

• a person who pays a dealership monthly for a lease

• a person who may monthly mortgage for a house

• a person who pays for the right to live in a residence owned by someone else

• the person who owns the property that you rent

What is a lease?

• a contract that you sign to rent an apartment or house; It is an agreement between the tenant and the landlord

• a fee charged for the use of property or land

• a fee paid by a person to use the storage space

• a legal document that shows the legal owner of the property

A lease tells you all of the following except,

• how much is the rent and when you will pay

• how long will you rent the apartment

• what happens when you do not pay on time

• at what time you must come home to your apartment at night

How would you know if utilities are included in your rent?

• A lease will say whether the costs of utilities are included in your rent.

• The owner will tell you every month

• The owner will always pay for utilities

• Utilities are cheap; so you don't have to pay for it

Which utility may likely be included in your rent?

• internet

• water

• gas

• heating

Who is responsible for paying for the utilities?

• the owner of the house

• the apartment complex

• the tenant

• the landlord

What happens if you move out before the end date of your lease?

• it does not matter

• you pay nothing

• you pay extra money

• your deposit will be returned