Unit 4

What term is used to describe the person who rents property to another person?

• Lessee

• Lessor

• Tenant

• Occupant

What is the term for a sum of money held by the landlord as security for the performance of any obligations of the tenant?

• Lease

• Rental agreement

• Security deposit

• Eviction

Which term refers to a detailed list of current property conditions, typically made before and after a tenancy?

• Lease

• Rental agreement

• Security deposit

• Rental inventory checklist

What is the legal term for the forced removal of a tenant from a rental property by the landlord?

• Lease

• Rental agreement

• Security deposit

• Eviction

Why would a person choose to rent rather than buy a home?

• To avoid long-term financial commitment

• To increase personal wealth through property investment

• Because they are not allowed to buy property

• To pay more in housing over the long term

What is an apartment?

• A single room designed for commercial use

• A group of rooms designed for use as a private living space

• A public space for community gatherings

• A type of vehicle for accommodation

What does a studio apartment typically consist of?

• A bathroom, a bedroom, and a separate kitchen

• A bathroom and one large room that serves multiple purposes

• Multiple bedrooms and a kitchen

• A lobby and laundry facilities

Which of the following are common areas that residents share in an apartment complex?

• Parking lot, gym, and individual balconies

• Lobby, grounds, and laundry facilities

• Private gardens, individual kitchens, and bathrooms

• Shopping centers, schools, and hospitals

What is one of the benefits of having roommates when renting your first apartment?

• It increases individual living expenses.

• It makes living expenses more affordable by sharing housing costs.

• It allows you to live without any financial obligations.

• It complicates understanding of house rules.

Which of the following is NOT listed as an advantage of renting an apartment?

• A) More free time

• B) Greater mobility

• C) Higher financial commitment

• D) Less financial risk