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Fool Proof Module 9: Renting a Pad Answers
|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?
Let your emotions rule your decision.
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 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 6: What is the maximum you should spend on housing if your gross income is $1,800 per month?
the person who owns the property that you rent
money that you should (but may not) get back when you rent or lease a place. for instance, a security deposit.
money you pay for a professional service that you will never get back. for instance, a fee for checking your credit.
failure to pay back a loan (basically, you’re in trouble)
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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