Considerations When Renting

The video tutorial discusses key considerations when renting, emphasizing the importance of budgeting and understanding housing costs, which include rent, utilities, and other expenses. It highlights the 30% rule for housing costs relative to gross income and explains landlord requirements such as credit checks and rental history. The tutorial also covers pet policies, occupancy limits, and the upfront costs associated with renting, including security deposits and potential additional fees.

What is the recommended maximum percentage of gross income to be spent on housing costs?

• 30%

• 40%

• 50%

• 20%

Which of the following is NOT typically included in housing costs?

• Groceries

• Utilities

• Rent

• Insurance

What might landlords require to verify your ability to pay rent?

• Medical history

• Credit report

• Travel history

• Social media profile

Why might having a pet make it harder to find a rental property?

• Pets are noisy

• Pets can damage property

• Pets require extra space

• Pets are expensive to feed

What is the typical occupancy limit per bedroom in a rental property?

• Four people

• Two people

• One person

• Three people

What should you verify about utilities when considering a rental property?

• If they are included in rent

• If they are renewable

• If they are government-subsidized

• If they are eco-friendly

What is usually required upfront when renting a property?

• First month's rent

• First and last month's rent

• Security deposit

• All of the above

Why do landlords often require a security deposit?

• To pay for utilities

• To increase their profit

• To ensure tenant's employment

• To cover potential damages

What is the purpose of requiring the last month's rent upfront?

• To ensure 30 days notice

• To cover moving costs

• To pay for maintenance

• To increase rent

Which of the following is a potential additional cost when renting?

• Internet subscription

• Moving costs

• Grocery bills

• Gym membership