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Renters Vocab Lease- a contract Security deposit- money provided by a tenant to a landlord to secure a rental agreement that compensates for possible.

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Presentation on theme: "Renters Vocab Lease- a contract Security deposit- money provided by a tenant to a landlord to secure a rental agreement that compensates for possible."— Presentation transcript:

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2 Renters Vocab Lease- a contract Security deposit- money provided by a tenant to a landlord to secure a rental agreement that compensates for possible damage Sublet- a sublease Tenant- the renter Verbal agreement- verbal contract Written agreement- a legal document summarizing the agreement between parties Rental clause- In an office lease, a provision stating the amount of rent to be paid, the method of payment, and to whom the payment is to be made. Eviction- to expel/kick out Renters insurance- A type of home insurance that protects the holder against accidents, damages, and losses that occur in a rented residence. Landlord- a person that owns and leases apartments to others Utilities- a public service that you or possibly your landlord pays for (telephone, water, cable, etc.) Reference- the act of referring or consulting Lauren Massaro

3 What can I afford? Apartment costs - $510/month for rent -No utilities included -Extra $140/month for utilities -Electricity/Heat/Water = $60-$70/month -Internet/Netflix = $50-60/month -About $625-$650 total/month Lauren Massaro

4 Wants & Needs Pool Fireplace Safe location Air conditioning Cable ready Laundry facilities Balcony/Patio Netflix Internet Safe location Laundry Facilities Garage Lauren Massaro

5 Research 1 Name: Willow Creek Apartments Location: Nicolet Rd. near Fox River Mall Date Available: December 1 st Rent amount: $510 Rent Due: First months rent + additional $510 for security deposit Security Deposit: $510 Length of lease: 1 year Square footage: 683 sq. ft. Pet Rules/Deposit: Cats only $250 deposit, $25 additional for 1st cat & an additional $10 for a second cat/month Late Payment Charges: N/a Laundry: On-site coin operated Appliances: Dishwasher, disposal, ceiling fans, air conditioning Storage: Storage space in basement Utilities Included: Trash pick up only Parking: Parking garage under ground Closet Space: Large walk in closet Ceiling Fans: Yes On Bus Route: N/A Club House: Yes, very nice one with a pool Exercise Facilities: Yes Pool: Yes and Jacuzzi Patio or Balcony: Yes Fireplace: No Approximate Age of Building: N/a Number of bedrooms: One What floor is it on: 2 nd floor Location: Fox River Mall Lauren Massaro

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7 Research 2 Name: Treyton Oak Location: 2620 N. Helen St Date Available: N/a Rent: $395 Rent due at signing: N/a Security Deposit: Length of Lease: 1 year Square Footage: 704sq ft Pet Rules: N/a Late Payment Charges: N/a Laundry: On site coin operated Appliances: All appliances Storage: N/a On Bus Route: N/a Parking: Garage Club House: N/a Exercise: No Pool: No Patio or Balcony: Yes Fireplace: No Approximate age of Building: 22 years Number of Bedrooms: One What Floor: N/a Location: Copps Grocery Store, Credit Union, Bowling Alley, 3 major restaurants Lauren Massaro

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9 Research 3 Name: Forest View Apartments Location: East side of Appleton Available: January 1st Rent amount: $375 Rent Due: 1st months rent is due upon signing Security Deposit: $375 extra security deposit on top of first month rent Length of Lease: 6 months, 1 year, or a flexible lease Square footage: sq. ft. Pet Policy: Cats only & they must be declawed $120 pet deposit, $10 monthly pet rent Late payment charges: N/a Laundry: On-site coin operated laundry Appliances: Dishwasher, ceiling fans, air conditioning, oven, fridge, alarm system Storage: spaces available in basement Utilities: Gas, water, and trash pick-up included Garage: No garage, only parking spots Closets: Spacious closets Ceiling fans: There are ceiling fans Bus Route: Not on a bus route Club House; No club house Exercise: No exercise facility Pool: No pool Patio/balcony: every apartment Fireplace: No fireplace ): Age of the building: N/a Bedrooms: One bedroom apartment What floor: 2nd floor Location: In a quiet cul-de-sac Lauren Massaro

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11 Landlord Look Up - On a apartment review site 4 out of 10 people recommended this apartment complex - Management buys tenants doughnuts the first Saturday of every month - People say that management changes a lot there Lauren Massaro

12 Why Willow Creek? I chose Willow Creek Apartments because they meet all of my wants, along with exceeding my needs. They have very large and spacious apartments with all appliances included. In the club house, they have a pool, Jacuzzi, workout room, free wifi, a huge bar and lounge, and a large wrap around deck including a grill available for all tenants to use. Although most of the management ratings were low, I have personally met both managers and they made me feel very welcomed and taken care of. Also, the first Saturday of every month the manager goes out and buys doughnuts for the tenants. The apartment I have chosen is a one bedroom, one bath for $510. I figured that water will be about $30 every 3 months, along with electricity/heat being $60-$70 per month, and about $50-$60 a month for Netflix and internet. At the end of the month I shouldn’t be paying any more than $650 with rent and utilities. Lauren Massaro

13 Kitchen: Pots & Pans- $74.59 Silverware- 101 set = $79.99 Tupperware- 9 containers w/ lids x 3 = $43.38 Cups- 16 cups = $28.39 Bowls-16 bowls = $35.98 Plates- 12 plates = $16.76 Cooking Utensils- $36.92 Trash Can- $ Table & Chairs- $ $ = $ Toaster- $ Total amount- $1, Lauren Massaro

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15 Living Room: L-Shaped Sectional- $2, End Tables- $ x 2 = $ Plasma Screen TV(large)- $1, Wall Mount- $ Lamps- $59.88 x 2 = $ Picture Frames- $34.99 Glass top coffee table- $ $29.94(spray paint)= $ Shelves Around TV- $ Area Rug- $ Total amount- $4, Lauren Massaro

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17 Bedroom: King Size Bed Frame- $ Mattress- $3, Pillows & Comforters-$ Nightstands- $ x 2 = $ Tall floor lamps- $ x 2 = $1, $18.00(2 lamp shades) = $1, Alarm Clock/iHome- $99.99 Wall Mount- $49.99 Plasma Screen TV(small)- $ Area Rug- $ Total amount- $7, Lauren Massaro

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19 Bathroom: Toilet Rugs/Covers/Rug- $7.97 Shower Curtain- $15.00 Toothbrush Cup- $ Total amount- $35.97 Lauren Massaro

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21 Misc: Storage Bins- $35.97 Hangers- 108 hangers = $66.00 Patio Table & Chairs- $1, Sunbrella- $ Total amount- $2, Lauren Massaro

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23 Complete Amount: $ $ $ $ $ * Complete Amount- $15, Lauren Massaro

24 Tenants Rights Grace Period for Late Payments: Wisconsin tenant rights will allow a tenant a grace period of 5 days after the due date to pay off rent without creating any complications. The landlord will have no choice but to wait for 5 days after a rent due date to begin eviction procedures. If the tenant pays off the rent in those 5 days of grace time, the landlord is not permitted to begin eviction procedures according to Wisconsin tenant rights guidelines. Security Deposits: The landlord must give reasons in writing for refusing to return all or part of the security deposit. State law requires the landlord to provide this information within 21 days of the tenant vacating. The tenant must give the landlord his or her new address. Illegal Evictions: The time of year has no legal effect on eviction. Instead of approaching the courts to obtain an eviction order, some landlords will resort to illegal eviction methods by locking the tenants out of their apartments or by shutting off their utilities. Tenant rights will protect tenant in these situations and they will be allowed to move back into the property with legal assistance even though they might have not paid rent or might have broken the terms of the lease. Privacy Rights: According to Wisconsin tenant law, a landlord must provide at least 12 hours of notice, in writing, before entering an apartment. Illegal entries without notice may be reported as an offense that relates to trespassing. Lauren Massaro


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