What is Involved in teasing an Apartment or llome? The decision of whether to rent or purchase your housing is personal and should be based on your lifestyle and your firances. Renting a home tends to provide which two major benefits to the renter? Mobulity and an absence of responsibility for repsiring and maintaining the apartment or home A feeling of permanence and stabitity, as well as the opportunity to modify the fivng space as you would like. There are two basic types of leases: - Chang rents a small house in New York and he does not have a written lease, Chang's rental agreement renews autornatically from month to inonth - at least until he or the landlard gives proper notice of termination to the other. This is an example of - Anna rents a condorninum in a subarb of Mustin, She rents the condominiuns using an annual lease thi less she renews if by giving proger notice. This is an exaniple of Depending on the terms of the lease and pror to the lease's expiration, a renter may be permitted to move ouk and ro iease the space to another tenant. This practice is referred to as . The original renter may be required to until the origenal lease expires. Almost al financial experts recommend that when you agree to rent any living space- house, condominum, apartment, mobile home, or other structure-you request a formal written lease. A major advantage of a written document is that it reduces the opportunity for: What is Involved in Leasing an Apartment or Honse? The decision of whether to rent or purchase your housing is personal and should be based on your Mestyle and your finances. Renting a home tends to provide which two major benefits to the renter? Mobility and an absence of responsubilaty for repairing and maintaining the apartment or home A feeling of permanence and stability, as well as the opportunity to modify the fiving space as you would like There are two basic types of leases. - Chang rents a small house in New Youk and he does not have a written lease. Changis rental agreement renews automatically from month to month -at least und he or the landlord gives proper notice of termination to the other. This is an example of - Anna rents a condominium in a suburb of Mustin. She rents the condorninum using an annual lease that will expire autornatically unless she renews it by awing proper notice. This is an example of Depending on the terms of the lease and peior to : may be permitted to move out and to lease the space to another tenant. The practice is referred to as tbe required to ie expires. Almost all financal experts tecommend that when vou agree to rent any living space-house, condominium, apartment, mobile home, or other structure- yeu request a formal written lease. A major advantage of a written document is that it reduces the opportunity for: What is Involved in Leasing an Apartment or Home? The decison of whether to rent or purchase your housing is personal and should be based on your lifestyle and your finances. Renting a home tends to provide which two major benefits to the renter? Mobility and an absence of responsibility for tepairing and maintaining the apartment or home A feeling of permanence and stability, as welf as the opportunity to modify the tiving space as you would like There are two basic types of leases. - Chang rents a small house in New York and he does not have a written lease. Chang's rental agrecment renews automatically from month to month - at least until he or the landlord gives proper noticn of termination to the other. This is an example of - Anna rents a condominum in a suburb of Austan, She rents the condominium asing an annual lease that will expire automatically unless she renews it by ginng proper notice. This is an example of Depending on the terms of the lease and prior to the lease's expiration, a renter may be permitted to move out and to lease the space to another teriant. This practice is referred to as - The original renter may be required to untal the original lease expires. ou agree to rent any living space-house, condomanum, apartment, mobile home, or other Atten lease. A major advantage of a written document is that it reduces the opportunity for: 2. The fundamentals of renting - Part 1 What is Involved in Leasing an Apartment or Home? The decision of whether to rent or purchase your housing is personal and should be based on your lifestyle arid your finances. Renting a home tends to provide which two major benelits to the renter? Mobility and an absence of responsibility for repaing and maintaining the apartment or home A feeling of permanence and stability, as well as the opportunity to modify the fiving space as you would like There are two basic types of leases. - Chang rents a small house in New York and he does not have a written lease. Chang's rental agreement renews automatically from month to month -at least until he or the landlond gives proper notice of termination to the other, This is an example of - Anna rents a condominium in a suburb of Austin. Shive rents the condominium using an annual lease that will expire autornatically unless she renews th by giving proper notice. This is an example of Depending on the terms of the lease and pror to the lease's expiration, a renter may be permitted to move out and to lease the space to another tenant, This practice is referred to as The original renter may be required to until the original lease expires. rou agree to rent any living space - house, condorninium, apartment, mobile home, or other ritten lease. A major advantage of a written document is that it reduces the opportunity for: What is Involved in Leasing an Apartment or Home? The decison of whether to rent or purchase your housing is personal and should be based on your lifestyle and your finances. Renting a home tends to provide which two major benefits to the renter? Mobility and an absence of responsibility for repairing and maintaining the apartment or home A feeling of permanence and stability, as well as the opportunity to modify the fiving space as you would like There are two basic types of leases. - Chang rents a small house in New York and he does not have a written lease. Chang's rental agreement renews automatically from month to month -at least until he or the landlord gives proper notice of termination to the other. This is an example of - Anna rents a condominium in a suburb of Austin, She rents the condominium using an annual lease that will expire automatically unless she renews it by giving proper notice. This is an example of Depending on the terms of the lease and pror to the lease's expiration, a renter may be permitted to move out and to lease the space to another tenant. This practice is referred to as - The original renter may be required to unth the original lease expires. Almost all financial experts recommend that when you agree to rent any livng space-house, condominium, apartment, mobile home, or other structure-you request a formal written lease. A major advantage of a written document is that it reduces the opportunity for: A frie renter relationship Misul ind miscommunication structure - you request a formal written lease. A major advantage of a written document is that it reduces the opporturity for: A friendly landlord-renter relationship Misunderstanding and miscommunication Even in the absence of a formal written lease, however, renters have legal nohis in most states, Whoch of the following are among these nghts? Check air that apply. The freedom to make minor repains to the living space-without giving proper or tamely notice to the landlord-and to deduct twice the cost of then repairs from the vour next rent poyment Specafied assurances of running water, heat, and safe comenon areas, wuch as laghed and sructurally sound stairs Frotection against retaliation for reporting bulding or health code volations Protection against stility shitolfs, unlawful eviction, or rem increases as repensal for exercising your lawful rights as a tenane Most financial experts suggest that renting a hoene is 0 expensive in the short run. Crie indicator of the relative cost of renting versus thi owning a living space is the community's price-to-rent rabo, which is calculated as: The ratio of the average rent of the typical the coinumity divided by its average purchase price The ratio of the average cost of the typicat home in the community divided by the city's annuat rent on an awerage apartment cost of the repairs from the your next rent payment Specified assurances of running water, heat, and safe common areas, such as lighted and structurally-sound stairs. Prokection against retalation for reporting bullding- or health-code violations Protection ogainst utifity shutoffs, unfawfut eviction, or rent increases as reprisal for exercising your lawful rights as a tenant Most financal experts suggest that renting a home is expensive in the short run. One indicator of the relative cost of renting versus the cost of owning a living space is the community's price-to-rent ratio, which is calculated as: The ratio of the average rent of the typical home in the community divided by its average purchase price The ratso of the average cost of the typical home in the community divided by the ciry's annual rent on an average apartment Assume that you are employed as a freelance writer and can live in either New York or Austin. Your employer will standardize your income using each city's cost of living so that you will earn the same effective income in either city. You are indifferent between living in New York or in Austin, but you prefer to rent, rather than purchase, your living space. Therefore, youTl base your city selection by minimizing your cornparative cost to rent. Given that the price-to-rent ratios for New York and Austin are 15.4 and 19.9 , respectively, which oty shiould you elect to live in? New York Austin