Show me the $
Apartment Lingo
Buy or Rent?
Other "renty" stuff
100

This is the first fee you need to pay when you are trying to live at a specific apartment.

What is an application fee?

100

The person renting an apartment is called this.

Who is a tenant?

100

Usually, if you do not plan on living in a house for this long, you should probably plan on renting.

What is 5 years?

100

You should purchase this to protect your belongings from theft or natural disasters.

What is renter's insurance?

200

This is the money you pay up front but is hopefully returned after you are done renting - as long as there are no damages.

What is a security deposit? 

200

This is the person that owns or manages the apartment where you live. 

Who is the landlord?

200

If you do not have a 3-6 month this, you probably should keep renting in most cases. 

What is an emergency fund?

200

Your housing should not be more than this percentage of your pre-tax monthly income.

What is 30%?

300

This is the money you will pay if your rent is paid after the due date. 

What is a late fee?

300

This is what you will submit to the landlord when you plan to move out of your apartment. 

What is the "notice to quit?"

300

To purchase a house, you should have a credit score of at least this number. 

What is 740?

300
In addition to your base salary, this can also help you pay for your living costs.

What is your (cash) housing allowance?

400

These are usually charged separately by the individual company providing these services. (Example: natural gas) 

What are utilities?

400

This is the type of lease with a pre-set amount of time. (Example: 1 year)

What is a fixed-term lease.

400

The recommended down payment amount on a house is this.

What is 20%?

400

This is one of the cities where Professor Krohn rented an apartment. 

What is Ithaca, Northfield, or Jacksonville?

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