Renting 101

What is a security deposit?

• a. An amount paid in advance to hold a rental property

• b. A fee paid to a landlord for routine maintenance

• c. A refundable deposit held by the landlord to cover damages or unpaid rent

What is a lease?

• a. A document outlining the terms of a rental agreement

• b. A legal document transferring ownership of a property

• c. A document outlining the terms of a mortgage agreement

What is the difference between a fixed-term lease and a month-to-month lease?

• a. A fixed-term lease is for a specific period of time, while a month-to-month lease can

• b. A fixed-term lease can be terminated by either party with 30 days' notice, while a month-to-month lease is for a specific period of time.

• c. There is no difference between the two types of leases.

  What is a sublease?

• Head & Toe

What is a sublease?

• a. When a tenant rents out part of their rented space to someone else

• b. When a tenant rents out their entire rented space to someone else

• c. When a landlord rents out their property to a tenant

What is the difference between a landlord and a property manager?

• a. A landlord is the owner of the rental property, while a property manager is hired by the landlord to manage the property.

• b. A landlord is hired by the property manager to manage the property, while a property manager is the owner of the rental property.

• c. There is no difference between the two.

What is an eviction?

• a. When a tenant moves out of a rental property voluntarily

• b. When a landlord asks a tenant to move out of a rental property

• c. When a tenant is forced to move out of a rental property by law enforcement

Can a landlord raise the rent during the term of a lease?

• a. Yes, at any time and for any reason

• b. No, not until the lease expires

• c. Only if the lease agreement allows for it

What is normal wear and tear?

• a. Damage to a rental property caused by negligence or misuse

• b. Damage to a rental property caused by natural causes, such as aging or weather

• c. The normal deterioration of a rental property due to regular use

Can a landlord enter a rental property without permission from the tenant?

• a. Yes, if the landlord gives the tenant 24 hours' notice

• b. No, unless it's an emergency situation or the tenant gives permission

• c. Yes, at any time the landlord wants

What is the difference between a furnished and unfurnished rental property?

• a. A furnished rental property includes furniture, while an unfurnished rental property does not.

• b. A furnished rental property is more expensive than an unfurnished rental property.

• c. There is no difference between the two.