16 Questions
Which one of the following is a requirement to rent an apartment or room?
Having a reference
What is a rental agreement also known as?
A lease
What is a security deposit?
Money paid to the landlord for damages
What percentage of millennials are currently living with their parents?
Over 30 percent
Why do many millennials move back home after trying to live on their own?
They can't afford it
Which of the following is NOT mentioned as an important detail in a rental agreement?
Responsibility for paying utilities
What is the recommended percentage of take-home pay that should be spent on rent?
30%
Why is location an important factor when selecting an apartment?
To be close to your job
What is one sacrifice that may need to be made when selecting a place to live?
Living in a spacious house with a beautiful view
Why is it important to read the rental agreement carefully before signing it?
To understand the fine print
True or False: Once you sign a rental agreement, you are legally bound to follow all the conditions listed in it.
True
True or False: It is recommended that the amount of rent you pay should not be more than 30% of your take-home pay.
True
True or False: It is important to be close to your job when selecting an apartment.
True
Match the following terms with their definitions:
Rental Agreement = A legal contract between tenant and landlord Rent = Amount to be paid each month for the apartment Fine Print = Important details in the contract that need careful reading Early Termination = Vacating the apartment before contract expires, possibly causing additional costs
Match the following factors to consider when selecting an apartment:
Affordability = Rent should not be more than 30% of your take home pay Location = Should be close to your job or a transportation system Safety = A top concern when selecting a place Type of Place = Choosing what you need, not necessarily what you want
Match the following responsibilities as a renter:
Paying Rent = To be paid each month, often to a specific person Notice = Properly given if you decide to move, or you might pay rent until contract expires Repairs = Policy usually stated in the contract Pets = Contract may specify if they are allowed on the premises
Living on Your Own: Are You Ready for the Challenge? Take this quiz to test your knowledge and get tips on successfully navigating the complexities of living independently. Discover common mistakes to avoid and learn valuable strategies for a smooth transition into adulthood.
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