What is an security deposit?
It is money to be used to fix anything that tentant has broken in the apartment
Money to secure the apartment
Money for police services
Money for a rental cop
How much is an application fee?
Based on your credit score
Most authorities claim that what percentage of your monthly pay is the safe amount to spend on housing?
Utilities are what type of expenses?
All utilities are paid by the landlord.
fee that covers damages made by pets
pet ownership fee
pet application fee
In order to rent a place, a landlord may request
that you own a car.
references and/or a credit check.
proof of vaccinations
All of the above
The Security Deposit
will never be returned to the tenant
will be returned to the tenant after any damages are deducted
will go toward the rent.
All of the above.
Financial experts recommended, when you rent, the amount of rent you pay should not be more than
10% of your take home pay
30% of your take home pay
50% of your take home pay
70% of your take home pay
When you decide to move out of an apartment,
you can move out anytime you want to without penalty.
you must move out on the first day of the month.
you must give the landlord the required noticed stated in the rental agreement.
A Rental Agreement is often referred to as
all of the above
When it is time to look for a place of your own, it will be important to think about
the type of place you need.
the location of the place.
how much rent you can afford to pay.
all of the above.
When selecting a place to rent it is important to choose a place that
you really want and desire.
fits your needs and is affordable.
you find first.
None of the above.
It is important to make sure you carefully read a rental agreement before signing it.
When renting a place, it is important to select a place where you feel safe.
Someone that can vouch that you are a responsible individual.
Carlos wants to move to New York City after graduation to pursue a career in banking. Which of the following decisions makes the most financial sense for Carlos?
Rent a sweet Manhattan apartment, because he'll certainly be able to afford it once he gets a job
Rent an apartment solo in Brooklyn, which will take up 70% of his monthly income, but save money on all other aspects of his budget
Even though NYC is a great place to start a career in banking, Carlos should move home with his parents in Boise to save money
Split an apartment with two roommates so he can pursue his career in banking and enjoy the nightlife, culture, and other activities in NYC
When deciding where to live, what are some factors you should consider?
The rental cost relative to your income
Proximity to family and/or friends
The number of employment opportunities in the area
Proximity to public transportation
Why should you inspect a property prior to putting in an application to rent it?
To check on the condition of the property and get a feel for the surrounding neighborhood
To meet with the landlord or property manager to be sure that all your questions are answered
To document any damage that you find with the property so it is repaired before you move in
ALL choices are correct
Joey has been renting a 2 bedroom apartment with his friend Max, and they have signed a lease that states each co-signer is jointly and severally liable. What does this mean?
Max does not have to pay rent because the apartment is in Joey's name
Joey and Max are responsible for each other's payments and actions, as well as their own
Joey and Max are only responsible for making sure their portion of the rent is paid on time
The landlord will cover any damage to the property caused by Joey and Max
What information should you be comfortable providing to a landlord when applying for an apartment?
A personal reference
Information on your salary
An emergency contact name & number
Choose the term matching the statement: A pipe breaks, but the consumer doesn’t have to fix it.
leasing a vehicle
renting a home
purchasing a home
purchasing a vehicle