Are You Ready to Live on Your Own?
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Questions and Answers

Which age group is struggling to live on their own?

  • Millennials (correct)
  • Generation Z
  • Baby boomers
  • Generation X

    • What is the term used for someone who pays rent to live in a property?

  • Tenant (correct)
  • Landlord
  • Property owner
  • Renter

    • What is a reference in the context of renting?

  • Someone who damages the apartment
  • Someone who owns the property
  • Someone who can vouch for your character (correct)
  • Someone who pays rent

    • What is a credit check used for when renting?

    <p>To check if you have been responsible paying bills and borrowing money</p> Signup and view all the answers

    What is a security deposit used for when renting?

    <p>To pay for any damages to the apartment</p> Signup and view all the answers

    Which of the following is NOT mentioned as an important detail in a rental agreement?

    <p>Type of place you need</p> Signup and view all the answers

    What is the recommended amount of rent you should pay as a percentage of your take home pay?

    <p>30%</p> Signup and view all the answers

    Why is location an important factor when selecting an apartment?

    <p>To be close to your job</p> Signup and view all the answers

    What is the consequence of not giving proper notice when moving out of a rental property?

    <p>You will be responsible for paying all of the rent until the contract expires</p> Signup and view all the answers

    What is the purpose of reading the rental agreement carefully before signing it?

    <p>To understand the fine print</p> Signup and view all the answers

    True or false: The rental agreement is a legally binding contract once you sign it.

    <p>True</p> Signup and view all the answers

    True or false: It is important to read the rental agreement carefully before signing it.

    <p>True</p> Signup and view all the answers

    True or false: The amount of rent you pay should not be more than 30% of your take-home pay.

    <p>True</p> Signup and view all the answers

    Match the following terms with their description in the context of renting an apartment:

    <p>Rental Agreement = A legal contract between the renter and the landlord Utilities = Expenses like electricity and water that may or may not be included in the rent Notice = A formal declaration made by the renter if they decide to move out Early Termination = The act of vacating the apartment before the contract expires</p> Signup and view all the answers

    Match the following considerations with their importance when selecting an apartment to rent:

    <p>Affordability = Should not exceed 30% of your take home pay Location = Should be close to your job or easily accessible by transportation Type of Place = Should fit your needs, not necessarily your wants Safety = Should be a top concern when selecting a place</p> Signup and view all the answers

    Match these apartment types with their descriptions:

    <p>One-bedroom apartment = An apartment with a separate bedroom Studio = An apartment where the bedroom, living area, and kitchen are all one space Room = A single room rented in a larger house or apartment Shared apartment = An apartment rented with roommates</p> Signup and view all the answers

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