Chapter 10 Renting a Home Selecting Rental Housing Tenant Rights and Responsibilities Sharing Housing Feeling at Home

Selecting Rental Housing Assess your housing requirements What can I afford to spend? Allow 28 of your monthly gross income for rent. What location am I interested in? What Type of housing unit would suit me? How much space do I need?

Selecting Rental Housing Consider the following factors. Apartments located near stairways, elevators, or entrances may be noisy. Apartments in the upper portion of the building may be warmer and have poor air circulation than those on lower floors. Ground-floor apartments may be more convenient than those to upper floors. Upper apartments may be more secure, because they are harder to get to from the street.

Selecting Rental Housing What is Available How do you find out what rental housing is available? Drive or walk through areas you would like to live. Look for “For Rent” signs posted. Read print advertisements for rental housing under the headings. “Housing rent”.

What is Available? You can also check for online listings. Real estate agencies and apartment- finding services often have lists of apartments that are vacant or soon will be.

Selecting Rental Housing Affordable Options Privately owned Housing Rental properties are generally owned as investments and are used as sources of income. Public Housing This type of housing is complexes with low-cost units and are typically found in large cities. Subsidized Housing, the government provides assistance payments to private housing owners. These payments help make it possible for families with very low incomes to live in safe, sanitary housing.

Inspect and Compare Units Living Space Evaluate the layout of each unit Compare floor plans. Facilities-amenities covered parking, laundry areas, swimming pool, etc. Individual Needs Accessible the building is for people with disabilities. Safety and Security. If there is a main entrance to the building is it kept locked? Are entrances well lighted? Are there provisions in the lease that state when the landlord or maintenance workers may enter the unit? Maintenance Does the landlord or building manager live on the premises?

Selecting Rental Housing Review Rental Agreements It’s essential that you carefully review all the terms and you understand them. Rental agreements vary but take three basic forms: Verbal Agreement Written Agreement Lease

Selecting Rental Housing Verbal Agreement Is reached through discussion between the landlord and the prospective tenant. Remember, however, a verbal agreement will not hold up in a court of law. Written Agreement Outlines certain provisions, such as rental cost. Some written agreements state that a landlord may tell tenants to move out any time. Landlords don’t like the month to month agreement, because it does not guarantee long-term occupancy.

Selecting Rental Housing Lease Legal document a tenant signs when agreeing to rent for a specific amount of time. The lease should include the following details Address and number of the unit. Date tenant will move in. List of contents if unit is furnished. Cost of unit per month, date monthly payment is due. Penalty for late payment. Amount of security deposit and conditions for refund. Length of time the lease is valid. Tenant’s and landlord’s rights to end the lease. Statement of responsibility for repairs and maintenance.

Sharing Housing Several factors can influence a person’s decision to share housing with others. Finances are a common reason, especially for those who live in large cities in which housing tends to be more expensive. Some of the advantages of sharing housing include. Lower housing costs for people who can’t afford and apartment alone. A nicer or larger home than each person could afford to pay for individually. Companionship for those people who prefer the company of others.