It is usually less expensive for college students to live on campus than to live at their parents’ home and commute to school.

University-owned apartments are usually available only to undergraduate students.

Studio apartments have less living space than other apartments, and they are also more expensive

Rental houses are usually more expensive than other housing options.

Choosing a friend as your roommate will not guarantee a successful living arrangement.

For college students, finances will have a major impact on the decision of where to live.

Furnished rentals are usually cheaper than unfurnished rentals.

You usually don’t need to worry about having a source of income until after you have rented a place to live

You can save money on moving by doing your own packing.

By far, the biggest advantage of renting is that tenants have no responsibilities whatsoever.

Many rental properties do not provide garages or off-street parking

If you sign a rental agreement rather than a lease, the landlord can raise the rent anytime or ask you to leave anytime.

Leases usually require six months’ written notice of rent increases and tenant departures

If you live in a rental property, you are expected to leave it as you found it—even so-called “normal wear and tear” is not acceptable.

By law, a renter can refuse to allow the landlord into his/her living unit at all times.

An on-campus building that contains many small rooms that are rented out to students is called a

Which type of college does not provide any on-campus housing options?

The monthly charge you pay to live in an apartment is called

Which of the following consists of four bedrooms connected to a single kitchen and living room that is shared by the occupants?

Which of the following is probably NOT a question you need to ask of a prospective roommate?

Many utility companies charge new customers a(n)

In a typical roommate arrangement, all of the following expenses would be shared equally by all of the roommates except

Which of the following would generally be considered an advantage of renting as compared to owning a home?

A detailed list of current property conditions is called a(n)

Which of the following is an obligation of the lessor?

Bonita, Jenny, and Maya are roommates. They equally share the following expenses each month:

Rent: $800
Utilities: $150
Groceries: $400
Household supplies: $100
Miscellaneous expenses: $50

What is each roommate’s monthly share of the expenses?
(State your numeric answer below, Hint: numbers only, 3 digits)

Suppose you currently pay $45/month to the phone company for telephone service; $90/month to the cable company for cable TV; and $50/month to an Internet Service Provider for high-speed Internet access. You learn that you can bundle all these services with the cable company for one monthly fee of $148. What percentage savings is that?
(State your numeric answer below, Hint: numbers only, 2 digits)

The downtown condo that Charles rents does not offer free parking. The monthly rate at a nearby parking garage is $120, but the garage offers a 5 percent discount for condo residents. If Charles decides to use this garage, how much will he pay for parking over the course of one year?
(State your numeric answer below, Hint: numbers only, no commas, 4 digits)

Diana put down a security deposit of $500 when she rented her studio apartment two years ago. Her lease specified that she would get the deposit back when she moved out, minus the cost of repairing any damages to the apartment. When she moved out, the landlord found the following damages:

broken window: cost $40 to repair
broken knob on cabinet: cost $6 to repair
missing set of mini-blinds: cost $35 to replace

How much of her security deposit will Diana get back?
(State your numeric answer below, Hint: numbers only, no commas, 3 digits)

The regular monthly rent at the Empty Arms Apartments is $800 per month. If Andrew signs a one-year lease, the rent is reduced to $700 and the security deposit is also reduced from $500 to $300. The lease also states that if Andrew terminates the agreement prior to one year, he must repay the entire rent reduction and the balance of the security deposit.

Suppose Andrew must move out at the beginning of the eighth month. What is the total amount he would owe the landlord, under the terms of the lease?
(State your numeric answer below, Hint: numbers only, no commas, 3 digits)

Ch. 12 - Renting a Residence
Match the Answers with the Questions.