Rent Unit Vocabulary

What is a Co-Signer?

• A person who signs a loan agreement to help another borrower qualify for a loan.

• A type of insurance policy for borrowers.

• A legal document that outlines the terms of a loan.

• A financial advisor who helps individuals manage their debts.

What are the services provided by utilities?

• Utilities

• Transportation

• Entertainment

• Education

What is the term used for a contract that allows one party to use another party's asset for a specified period in exchange for payment?

• Lease

• Mortgage

• Deed

• Title

What is the term used to describe a plan for managing income and expenses?

• Budget

• Forecast

• Balance Sheet

• Investment

What is a Security Deposit?

• A fee paid to secure a rental property

• A payment made for property insurance

• A sum of money held as collateral for damages

• A charge for late rent payments

What is the term for the legal process of removing a tenant from rental property?

• Eviction

• Foreclosure

• Repossession

• Garnishment

What is the term for a person who owns and rents out property?

• Tenant

• Landlord

• Realtor

• Property Manager

What is the term used to describe a person who rents property from a landlord?

• Landlord

• Tenant

• Owner

• Broker