A lease is a written contract between the owner and the...
What is the renter
100
The amount of your income that is suggested to go towards housing costs...
What is 1/4 or 25%
100
The owner of the apartment...
What is a lesser
200
Forcing a tenant to leave the property before the lease expires...
What is eviction
200
The property taxes on a home are called...
A. mortgage
B. interest
C. Real Estate Taxes
D. Equity
What is C. Real Estate Taxes
200
Amount paid by a renter to cover any damages...
What is a security deposit
200
The minimum amount for a down payment on a house...
What is 20%
200
Gas, electricity, and water in a dwelling are called the...
What is utilities
300
Money value of a house beyond what is owed on the house...
What is equity
300
T/F Real estate taxes and the interest of a mortgage may be deducted from the home owner's income taxes.
What is True.
300
The most common breach of contract when renting...
What is not paying the rent
300
T/F A second mortgage can only be used to buy a second house.
What is False
300
What is a duplex?
What is a split level or split dwelling
400
Amount on which interest is paid...
What is principal
400
Include taxes and ??? within your mortgage payment.
What is insurance
400
A lease will tell you all of the following EXCEPT...
A. if you can have a roommate
B. the amount of rent and when it is due
C. if you can sublet
D. the square footage of the unit
What is D. the square footage of the unit
400
Other than a commercial bank, where could you apply for a mortgage?
What is a Mortgage Company, Credit Union, Savings and Loan
400
Besides a home or apartment structure, what is another housing option?
What is mobile home, live with parents, modular home, loft, ect.
500
Renting without a lease...
A. Sublease
B. Tenancy at will
C. Eviction
What is B. Tenancy at will
500
List 3 things to consider when house hunting...
What is family's needs, construction, re-sale value, property, neighbors, location, location to work and family, etc.
500
List one reason for renting...
What is lower initial cost, no or little upkeep, flexibility, etc.
500
If you make $1000 a month, how much money in dollars can you spend on housing...
What is $250
500
If you are renting an apartment and you have a maintenance problem (water heater breaks), you should call...