Foolproof Module 9 notes
landlord - answer the person who owns the property that you rent
renter/tenant - answer that’s you
deposit - answer money that you should (but may not) get back when you rent or lease
a place. for instance, a security deposit.
fee - answer money you pay for a professional service that you will never get back. for
instance, a fee for checking your credit.
"in default" - answer failure to pay back a loan (basically, you're in trouble)
eviction notice - answer Landlord must give tenant notice before an eviction is filed
(your landlord is trying to kick you out)
- answer Generally, when you are "renting" a place, you only live there month-to-
month.
You can move out by giving a months' notice, and the person renting you the place can
ask you to leave with a months' notice as well.
You're not tied down for a lengthy period of time when you rent, but landlords can raise
the rent pretty easily.
Generally, when you "lease" a place, you are signing an agreement to live there for a
longer period of time, many times for two or more years.
A lease means you "lock in" your monthly payment. Your payment normally can't be
raised until the lease expires.
A lease also means you can't move out early without paying big penalties.
- answer Getting a short-term rental makes more sense. You should rent it on a month-
to-month basis, even though it costs you more per month.
Why be stuck in a two-year lease without a job?
What if the job is 90 minutes away and you don't have a car to get you there?
It makes sense to get the job and then consider switching to a lease rather than a
month-to-month, right?
landlord - answer the person who owns the property that you rent
renter/tenant - answer that’s you
deposit - answer money that you should (but may not) get back when you rent or lease
a place. for instance, a security deposit.
fee - answer money you pay for a professional service that you will never get back. for
instance, a fee for checking your credit.
"in default" - answer failure to pay back a loan (basically, you're in trouble)
eviction notice - answer Landlord must give tenant notice before an eviction is filed
(your landlord is trying to kick you out)
- answer Generally, when you are "renting" a place, you only live there month-to-
month.
You can move out by giving a months' notice, and the person renting you the place can
ask you to leave with a months' notice as well.
You're not tied down for a lengthy period of time when you rent, but landlords can raise
the rent pretty easily.
Generally, when you "lease" a place, you are signing an agreement to live there for a
longer period of time, many times for two or more years.
A lease means you "lock in" your monthly payment. Your payment normally can't be
raised until the lease expires.
A lease also means you can't move out early without paying big penalties.
- answer Getting a short-term rental makes more sense. You should rent it on a month-
to-month basis, even though it costs you more per month.
Why be stuck in a two-year lease without a job?
What if the job is 90 minutes away and you don't have a car to get you there?
It makes sense to get the job and then consider switching to a lease rather than a
month-to-month, right?
