Real Estate Part 1Renting Mr. Stasa- http://northbiz.weebly.com http://www.youtube.com/watch?v=KcLAq_cNYX4
Advantages & Disadvantages of Renting ADVANTAGES DISADVANTAGES Options Easy to move Low/no maintenance Short-term commitment Some FREE utilities No tax advantages Less privacy Rules must be followed
What Can I Afford? • Your monthly rent should be about 27% of your take-home pay, but no more than 30%. • (Monthly Net Earnings) X 27% = Affordable rent • HS Dropout makes $1,575 = $425 • HS Graduate makes $2,158 = $583 • College Graduate makes $3,783 = $1,021 • Professional makes $8,275 = $2,234
What Should I Look For? FREE water FREE heat Fitness Center Garage access Near a bus route Pets Welcome? Bedrooms Bathrooms Dishwasher Washer/Dryer FREE Wi-Fi
Rental Classified Search Codes • Ent • Entrance • Ba • Bathroom • D/W • Dishwasher • f/p • Fireplace • Furn • Furnished • BR (bdrm) • Bedroom • A/C • Air Conditioning • W/W • Wall-to-wall carpeting • Blc • Balcony
Rental Lingo • A studio (efficiency) apartment is one-bedroom only • A security deposit is money required prior to receiving your keys to pay for any potential damages during your stay. • A landlord is the person who owns and is legally responsible for the property. • Tenant is the person who pays for the right to live in a residency owned by a landlord.