What kind of property can people rent to earn an income? Essential Question: What kind of property can people rent to earn an income? Gr. 4 Financial Literacy

People earn money by renting their property. your Property People earn money by renting their property. Have your parents ever rented something? Hotel room?, house?, apartment? Have you ever jumped in a bounce house at a birthday party?

Versus RENT BUY Goods are returned to owner. You are the owner of the goods. You pay less for using goods. You pay full price for the goods. Need is temporary. Needs are long term. Compare renting versus buying with the students. Tell students : -Goods that are rented has to be returned to the owner. -People rent things they need because it costs less than buying. -People rent things because the need is temporary. Ask: What can people rent? Brainstorm with the students and list ideas on the board. Instead of renting goods people can buy them. -When you buy goods you own them. -People pay full price for the goods. -People buy goods because they are going to needs them for a long time. Ask: What are goods that people would probably buy instead of rent?

How do people EARN Money by RENTING Property? Lola buys a car for $9,995.00 Lola earns $130.00 Lola rents the car for 2 days at $65 a day. Say-How do people earn money by renting property? Let’s look at Lola. -Lola wants to EARN money on the days she does not use her car. So she decides to rent the car. -She rents it to Maria for $65 per day, for two days. -Lola earns $130.00 -When Maria returns the car, Lola can rent it again and earn more money. -People earn money from renting property because people pay the owner to use their property and then return it, so then the owner can rent it again and again. Just like people rent their property to earn income, you can start a rental business to earn money. As we continue to go through the slides you will learn about types of property that people own and rent is paid.

Homes $1,500/Month $3,500/Month $500/Month $105.00/ Night Say: The first type of property were going look at is homes/shelter. People rent houses and apartments that they don’t live in. They often buy properties to rent them. Some people have large homes with rooms that are no longer being used, so they to rent the empty rooms to earn income. A hotel owner rents rooms in the hotel on a nightly basis. $500/Month $105.00/ Night

Commercial Property Rental October 13, 2018 Commercial Property Rental Say: Businesses rent spaces in buildings and shopping centers to establish there business. Offices, stores, restaurants, storage etc..

Vehicles Rental October 13, 2018 Discuss the different vehicles and why might someone want/need to rent them?

Construction Equipment Rental October 13, 2018 Construction Equipment Rental Say: Businesses earn income by renting goods. This business rents construction equipment. What goods does this business rent? What is this equipment used for? Why would someone rent it instead of buying it?

Medical Equipment Rental Businesses earn income by renting goods. The business rents medical equipment. What goods does this business rent? What is this equipment used for? Why would someone rent it instead of buying it?

Furniture Rental October 13, 2018 Businesses earn income by renting goods. What goods does this business rent? This business rents furniture. Office, House, Outdoor, any piece of furniture can be rented. Why would someone rent furniture instead of buying it? Discuss with students reasons why someone would rent these goods instead of buying them.

Party Rental October 13, 2018 Businesses earn income by renting goods. What goods does this business rent? This business rents party supplies. Tables, chairs, linens, plates, glass, silverware, anything needed for a party. Name the items in the slide and discuss with students, Why do people rent these items instead of buying them?

Mark wants to buy a video game that costs $89. 00 Mark wants to buy a video game that costs $89.00. In order to earn money, he decides to rent his bicycle for $5.00 a day. How many days does he need to rent his bicycle for, in order to earn enough money to buy the game? If he decides to continue renting his bike, how much money would he make if he rented his bike for 225 days? He will use the $940.00 from the money he earned to grow his business. How many bicycles can he buy, if each costs $270.00? 18 $1,125 Read the statement to the students and ask students to answer the questions in their journal. Ask volunteers for the answers. As you click the answers will appear. Ask the student’s to provide their opinion, Is renting your bike a good way to earn money? 4

October 13, 2018 Mark now has 5 bicycles. He rents one for $5.00 per day and rents it 155 days out of the year. He rents the four new bicycles for $7 per day for 325 days out of the year. How much money does Mark earn renting all five bicycles in the year? $9,875

October 13, 2018 Joyce rents her house for $3,500 a month. How much money does she earn a year from collecting rent? Maria is having a party at her house. She rents a tent for $525.50, 40 chairs that cost $2.00 per chair, 5 tables that cost $10 per table, and a bounce house that costs $365.00. How much money does Maria have to pay the rental company to rent the goods? $42,000 Read the statement to the students and ask students to answer the questions in their journal. Ask volunteers for the answers. As you click the answers will appear. Ask the student’s to provide their opinion, Is renting goods a good way of earning money? Why? Are there any bad things about renting your goods? (damage, worn out, lost) Tell students when the goods that businesses rent get damaged or lost the business loses money. What can businesses do to minimize their losses? Ask volunteers. $1,020.50

Give students one minute to list as many different kinds of property that can be rented to earn income.   Tell students to think about what they own. List property that you own, that you would be able to rent to earn money. Then tell why you think people would pay you to use it temporarily.