2Renting a HomeMany people rent their homes. They pay a monthly or weekly fee to the landlord, the owner of the property rented to another person. Renters also sign a lease. This contract or agreement states the amount of rent and the length of time that the property will be rented.
3Renting RuleThe renter’s rule says you should spend no more than one week’s income for a month’s rent. Applying this rule helps the renter to have enough money for other needs, such as food, clothing, utilities, and transportation.