WorksheetsLiving on Your Own II (12/25)
Total questions: 18
Worksheet time: 8mins
An electric bill is commonly considered a fixed living expense.
True
False
A security deposit covers the rent for the first month when moving into an apartment.
True
False
A roommate may reduce the financial burden of renting an apartment.
True
False
Saving money for a down payment to buy a house is usually considered a short-term goal.
True
False
A lease is designed to protect the rights of both a tenant and a landlord.
True
False
A common flexible expense associated with apartment renting is:
a security deposit
apartment insurance
electricity
rent
A ______ deposit refers to money held to cover possible damage in an apartment.
cleaning
security
telephone
utilities
A common moving-in cost for an apartment would be:
a down payment
building insurance
real estate taxes
a security deposit
A long-term goal would be to:
rent an apartment
own an apartment building
move to a larger apartment
all the above
The agreement between a renter and a landlord is a:
security deposit
mortgage
lease
deed
Which of the following is a financial consideration Ruth should think about before renting an apartment?
Her monthly income and ability to pay rent
The color of the apartment walls
The distance to the nearest park
The number of windows in the apartment
What is the difference between month to month and a term lease?
Month to month-can leave after a month with 30 day notice
Term lease- must stay whole term (6 month-1 year)
Month to month-can leave any time
Term lease- can leave after 3 months
Month to month-can leave after a month with 30 day notice
Term lease- can leave after 3 months
Month to month-can leave any time
Term lease- must stay whole term (6 month-1 year)
A lease should contain which of the following information?
address of the property
terms of the rental
security deposit terms
local restaurants
Which utilities are not included in the cost of the monthly rent payments?
Security deposit
Water, sewage, garbage, recycling
Gas, electric, phone, internet
Gym membership, laundry facilities, security system
Which of the following is typically required before moving into a rental apartment?
Signing a lease agreement
Paying property taxes
Purchasing the building
Installing new windows
What is usually considered a fixed expense when renting an apartment?
Groceries
Monthly rent
Internet usage
Electricity bill
Which of the following is NOT a responsibility of a tenant?
Collecting rent from other tenants
Maintaining cleanliness
Paying rent on time
Reporting damages to the landlord
