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Chapter 21: Renting a Residence

Chapter 21: Renting a Residence. By: Alex Dolhon. Terms to Know. Dormitory Co-Op Studio Apartment Townhouse Duplex Condo Security Deposit Furnished Rental Unfurnished Rental Rent-to-own option Bundling. On-Campus Housing. Advantages- Close to classes and closer to school activities

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Chapter 21: Renting a Residence

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  1. Chapter 21:Renting a Residence By: Alex Dolhon

  2. Terms to Know • Dormitory • Co-Op • Studio Apartment • Townhouse • Duplex • Condo • Security Deposit • Furnished Rental • Unfurnished Rental • Rent-to-own option • Bundling

  3. On-Campus Housing • Advantages- Close to classes and closer to school activities • Dormitory- On campus housing in a large building, which has small rooms within • Sorority is a group of females whom share a residency • A fraternity is like a sorority, but for males

  4. Off-Campus Housing • Many students that live off-campus usually live in apartments • A studio apartment is a large apartment with one big room • Another place of living is a townhouse, which is 2 or more levels

  5. Where to live? • Five ways to determine where to live • 1. Deposits and Fees • 2. Length of time you plan to live in the residence. • 3. Distance from work or school • 4. Distance from services • 5. Repairs and Maintenances

  6. What to take? • A furnished rental already has the basic things it. Ex. Refrigerator • An unfurnished rental does not have the basic appliances • The basic items are the best to take when moving

  7. Planning your move • 1. Have Savings • 2. Have Income • 3. Have supplies • 4. Think ahead • 5. Make reservations

  8. Section 2 • Renting • Landlord • Tenant • Lease • Lessor • Lessee • Rental Agreement • Rental Inventory • Eviction

  9. Advantages of Renting • Mobility-People prefer to rent because of the ease and speed if you have to move because of a job. • Convenience- most landlords provide many convinces for their tenants. • Minimum responsibilities for renters.

  10. Disadvantages of Renting • Noise, your walls are very close to your neighbors walls. • Lack of Privacy • Small living space • Lack of storage space • Scarcity of parking

  11. Leases and Month-to-Month Agreements • A lease is a written agreement that a tenant has a period of time to pay their dues. • The landlord is called the lessor. • The tenant is called the lessee. • A rental agreement is a written agreement that allows you to leave anytime as long as you give the required notice.

  12. Landlord Obligations • The exterior is waterproof • Halls and stairways meet fire safety regulations • Working locks • Plumbing and water supply working • Working lighting

  13. Tenant Obligations • Read and understand the rental agreement • Pay the rent due date to prevent eviction • Give a 30 day notice if going to move • Keep the renting space clean • Use the rental space for what it is intended for • Allow landlord access to the unit • Obey the rental contract rules

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