chapter 10 renting a home selecting rental housing tenant rights and responsibilities sharing...
TRANSCRIPT
Chapter 10
Renting a HomeSelecting Rental Housing
Tenant Rights and ResponsibilitiesSharing HousingFeeling at Home
Selecting Rental Housing Assess your housing
requirements What can I afford to
spend? Allow 28 of your monthly gross income for rent.
What location am I interested in?
What Type of housing unit would suit me?
How much space do I need?
Selecting Rental Housing Consider the following
factors. Apartments located near
stairways, elevators, or entrances may be noisy.
Apartments in the upper portion of the building may be warmer and have poor air circulation than those on lower floors.
Ground-floor apartments may be more convenient than those to upper floors.
Upper apartments may be more secure, because they are harder to get to from the street.
Selecting Rental HousingWhat is Available
How do you find out what rental housing is available?
Drive or walk through areas you would like to live.
Look for “For Rent” signs posted.
Read print advertisements for rental housing under the headings. “Housing rent”.
What is Available? You can also
check for online listings.
Real estate agencies and apartment-finding services often have lists of apartments that are vacant or soon will be.
Selecting Rental HousingAffordable Options
Privately owned HousingRental properties are generally owned as investments and are used as sources of income.
Public Housing This type of housing is complexes with low-cost
units and are typically found in large cities. Subsidized Housing, the government provides
assistance payments to private housing owners. These payments help make it possible for families
with very low incomes to live in safe, sanitary housing.
Inspect and Compare Units
Living Space Evaluate the layout of
each unit Compare floor plans.
Facilities-amenities covered parking, laundry areas, swimming pool, etc.
Individual Needs Accessible the building
is for people with disabilities.
Safety and Security. If there is a main
entrance to the building is it kept locked?
Are entrances well lighted?
Are there provisions in the lease that state when the landlord or maintenance workers may enter the unit?
Maintenance Does the landlord or
building manager live on the premises?
Selecting Rental HousingReview Rental Agreements
It’s essential that you carefully review all the terms and you understand them.
Rental agreements vary but take three basic forms:
• Verbal Agreement• Written Agreement• Lease
Selecting Rental Housing Verbal Agreement
Is reached through discussion between the landlord and the prospective tenant.
Remember, however, a verbal agreement will not hold up in a court of law.
Written Agreement Outlines certain
provisions, such as rental cost.
Some written agreements state that a landlord may tell tenants to move out any time.
Landlords don’t like the month to month agreement, because it does not guarantee long-term occupancy.
Selecting Rental Housing Lease
Legal document a tenant signs when agreeing to rent for a specific amount of time.
The lease should include the following details• Address and number of the unit.• Date tenant will move in.• List of contents if unit is furnished.• Cost of unit per month, date monthly payment is due.• Penalty for late payment.• Amount of security deposit and conditions for refund.• Length of time the lease is valid.• Tenant’s and landlord’s rights to end the lease.• Statement of responsibility for repairs and
maintenance.
Sharing Housing Several factors can influence a person’s
decision to share housing with others. Finances are a common reason, especially
for those who live in large cities in which housing tends to be more expensive.
Some of the advantages of sharing housing include. Lower housing costs for people who can’t afford
and apartment alone. A nicer or larger home than each person could
afford to pay for individually. Companionship for those people who prefer the
company of others.