1. Renting a Place to Live Unit 6: Major Purchases

2. Three Times To Rent College Temporarily Living There ▫Military ▫Study Abroad Saving Up for a Down Payment on a House

3. Housing Decisions Live in Dorms Live with Parents Rent an apartment

4. On-Campus Housing Dormitory – on campus building that contains small rooms that colleges rent to students ▫Advantages  Conveniently Located  Less expensive than apartment  Furnished- contains furniture! ▫Disadvantages  Tiny!

5. Apartments Efficiency apartment- one large room that serves as kitchen, living room, bedroom ▫Least expensive Apartment in Multi-Unit Building ▫No pets, no noise ▫Sometimes recreational activities (gym, pool)

6. More Housing Options Duplex ▫Building with 2 separate living quarters (same)  Separate entrances  Maintain landscaping???  Shovel Snow Rent a House ▫Most expensive!

7. Furnished vs. Unfurnished Furnished: Contains basic items (appliances, furniture, etc.) Unfurnished: does not contain basic items

8. Vocabulary Landlord: the owner of rental property Tenant: person who rents property from a landlord Lease: written agreement that allows tenant to use property for a specified time period and rent Eviction: legal process of removing a tenant from rental property…done through the court system

9. Roommates General rule of thumb is NOT live with friends…. however it is your choice

10. Decisions Usually based on finances ▫Off campus involves more planning  Need to sign in October/November for following May/June…lots of competitions Deposits and Fees ▫Security Deposit- refundable amount of money paid in advance to protect owner against damage or non- payment  Take pictures before entry Length of time you plan to live there Distance from school/work Cost of maintenance you are expected to perform

11. Some things to think about Limit number of bills that you have in your name Read fine print of lease Talk to previous tenants ▫How much bills were ▫Landlord? Can’t be charged cleaning expenses when you move out (exception: carpet cleaning) Non-payment of rent or property destruction are good reasons for eviction ▫Gets you out of lease  However, good luck finding another apartment

12. Other Charges to Consider… Electric Internet Cable Household supplies Water/Sewer Maintenance expense/supplies

13. Advantages of Renting Mobility Convenience Repairs, Maintenace, Property Management Social Lower living expenses

14. Disadvantages of Renting Noise Lack of Privacy Laundry, recreation is shared Small Lack of Parking

15. Rental Agreement Have to fill out application for lease Your responsibilities as a Tenant 1.Abide by terms of lease 2.Pay rent on or before due date 3.Give notice of intent to leave 4.Keep in good condition