2 Renting 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.
3 Renting 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.