Renting 101
What is the monthly payment you make to live in a rental property?
Rent
If rent is $800 per month, how much would you pay in rent over 12 months?
$9,600
What number is commonly used to represent how well you have managed credit?
Credit score
True or false: You should read your lease before signing it.
True
You tour an apartment before signing the lease. Smart or dumb?
What document explains the rules and responsibilities between a renter and landlord?
A lease
Name two expenses besides rent that a renter should budget for.
Utilities, groceries, transportation, insurance, or other living expenses
Name one thing that can negatively affect your credit score.
Missing or making late payments
What could happen if you don't report damage to your landlord?
You could potentially be held responsible for the damage or charged for repairs.
You spend your entire paycheck on rent because you really like the apartment. Smart or dumb?
Dumb
What is the amount of money a landlord may require upfront to cover possible damages?
Security deposit
Why is it important to have an emergency fund before moving into a rental?
To cover unexpected expenses, such as repairs, medical bills, or losing income.
Why might having good credit make renting an apartment easier?
Landlords may use credit history when deciding whether to approve a rental application.
Why is paying rent late a bad idea?
It can result in late fees, damage your rental history, and potentially lead to eviction if it becomes a serious or repeated problem.
You take pictures of the apartment when you move in and keep them for your records. Smart or dumb?
Smart