1 / 11

Understanding Renting as a Tenure Choice: A Comprehensive Guide

Explore the ins and outs of renting as a housing option with this PowerPoint presentation designed for the "Introduction to Housing" textbook. Learn how to assess your housing values and budget, understand the advantages and risks of renting, and discover practical tips for finding the right rental place. Uncover essential lease elements, security deposit guidelines, and insights on living with roommates. Additionally, understand renter's insurance and the eviction process to safeguard your rights as a tenant. Make informed choices about your housing journey!

rowdy
Télécharger la présentation

Understanding Renting as a Tenure Choice: A Comprehensive Guide

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Welcome to... Companion PowerPoint Presentation for the Introduction to Housing textbook

  2. Renting as a Tenure Choice

  3. Renting can be the best choice at times • 1/3 of Americans rent • How to decide? Assess your housing values Determine your housing budget Difference between your regular monthly expenses and your monthly take-home pay=what you can afford for rental housing

  4. Advantages of renting • Small initial investment & low transaction costs • Minimum financial risk • Monthly costs are fairly easy to predict • Flexibility • Special services

  5. How to find the right place? • Local newspaper/Web sites • Ask friends & relatives • Visit various complex • Check with a rental agency • Visit several units, narrow to 2-3, & compare costs & what choice maximizes advantages

  6. Lease—a written & dated legal document that governs the rental of property • description of property • length of occupancy • names of owner & tenant • amount of rent, when due & late charges • responsibilities for maintenance • requirements for terminating lease • rules & regulations

  7. Check that rent stays the same • List provisions you want changed—agree to in writing • Implied warranty of habitability—the landlord’s right to collect rent is contingent upon providing a dwelling fit to live in • Provides for quiet enjoyment—enjoy your own lifestyle within the rules • Watch out for danger clauses

  8. Security deposit • Usually equal to one month’s rent • Protection for owner & motivation for renter to live up to lease • Owner can use to cover damage costs Return of security deposit is a major complaint by renters

  9. Be a defensive renter • Discuss expectations & requirements • Obtain a receipt for deposit • Inspect property & complete checklist • Take pictures/video before moving in • Complete a checklist and take pictures/video when you move out • Give address for return of deposit

  10. Roommates • Advantages—companionship & sharing of work load & finances • Consider: method of signing lease coordination of expenses suitability & compatibility division of household work standards of cleanliness comfort

  11. Other issues • Renter’s insurance—personal liability & your possessions • Subletting—rent your unit to someone else • Eviction—legal process by which a tenant is required to vacate a dwelling before the lease has expired

More Related