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Foolproof Module 9 Test Answers

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Fool Proof Module 9: Renting a Pad Answers

QuestionAnswer
The sales agent’s job is to rent you an apartment, not necessarily tell you the truth about the apartment. What responsibility does that put on you?If I want to get the right place, I always have to do my homework and keep emotion out of my decision.
What should be the maximum spending on housing if your gross income is $2,400 per month?$800.
Landlords also have certain rights. Choose one landlord right from the answers below.If you cause damage to the apartment, a landlord can and almost certainly will keep part or all of your security deposit.
How much of your “gross” income should you spend on your rent and housing expenses?One third.
According to many consumer advocates, you should NOT furnish your apartment by going to a “rent-to-own” company because the cost of renting-to-own is much more expensive than the cost of buying.True.
What is the main difference between renting and leasing?When you lease you normally have a longer term contract and can’t move out early without paying big penalties.
Which statement is true about “subletting”?Subletting without permission normally means you have defaulted on your agreement and means you may have to pay heavy penalties.
Your renters insurance “deductible” is $500. Your $800 tablet disappears from your apartment after a big party. Your renters insurance pays for 100% of your loss.False
If you have credit problems you will normally pay more in rent and security deposits.True
Which of these is the tenant’s responsibility?Taking reasonable care of the property, giving notice if leaving at the end of the lease, using the rental for the purpose stated in the lease.
Landlords have certain responsibilities. Choose the most important landlord responsibility from the answers below.Making repairs in a reasonable amount of time.
What is a landlord?A person or company that is renting the apartment or house to you.
You should always find your apartment first and then figure out how to pay for the rent afterwards.False.
An eviction notice usually means you will lose your security deposit and you can be forced to pay heavy penalties and fees.True.
What is the biggest mistake most people make when they select a place to rent?They let emotions rather than common sense guide them.
Question 1: Which of these choices is the worst mistake to make when you are renting or leasing an apartment?
Question 1: Which of these choices is the worst mistake to make when you are renting or leasing an apartment?
Let your emotions rule your decision.
Question 2: Landlord's have rights, too! Which of the following is NOT a right of the landlord.
Question 2: Landlord’s have rights, too! Which of the following is NOT a right of the landlord.
A landlord can take all of your security deposit if you do
Question 3: Should you plan on spending two thirds of your paycheck on rent and household?
Question 3: Should you plan on spending two thirds of your paycheck on rent and household?
False
Question 4: When deciding on an apartment what should you do first?
Question 4: When deciding on an apartment what should you do first?
Develop your budget and look at the places that fall within your budget.
Question 5: What do you call the person or company that is renting an apartment or house to you.
Question 5: What do you call the person or company that is renting an apartment or house to you.
Landlord
Question 6: What is the maximum you should spend on housing if your gross income is $1,800 per month?
Question 6: What is the maximum you should spend on housing if your gross income is $1,800 per month?
 
 
Question 7:
 
 
landlord
the person who owns the property that you rent
 
renter/tenant
that’s you
 
deposit
money that you should (but may not) get back when you rent or lease a place. for instance, a security deposit.
 
fee
money you pay for a professional service that you will never get back. for instance, a fee for checking your credit.
 
“in default”
failure to pay back a loan (basically, you’re in trouble)
 
eviction notice
Landlord must give tenant notice before an eviction is filed (your landlord is trying to kick you out)

Related Test Answers: Foolproof Module 10 test answers

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