| LEASING AN APARTMENT | | |
| At some point in time, almost everyone will lease a place to live. Whether meeting a temporary or long-term housing need, leasing is a viable option for many individuals and families. In this project you will explore the rights and responsibilities of leasing an apartment and compare it with other housing alternatives. | | | | | | | Points |
| 1. Look through the newspapers, the local apartment guide, or other online sources to find a potential apartment to rent. When making your selection, you will want to consider its distance from work or school, its proximity to family or friends, the availability of public transportation or snow routes, etc. You might want to consider the desirability of the neighborhood the amenities it offers, and other features that attracted you to this location. |
| Give at least 3 reasons; weight each out of 100%. |
| Reason # | Description | | Weight | | | | |
| Reason 1 |
| Reason 2 |
| Reason 3 |
| Reason 4 |
| Other(s) |
| | Total = 100% | | | | | | 5 |
| 2. You can obtain detailed information about apartments in local newspapers, a local apartment guide, or on related web sites. |
| a. Determine the total monthly cost of living in the apartment. |
| | Expenses |
| | Monthly Rent |
| | Utilities (phone, gas, electric, cable etc.) |
| | Parking Fees |
| | Renter's Insurance |
| | Other Required Fees (please specify) |
| | Other Optional Fees (please specify) |
| | Total | | | | | | 6 |
| b. Determine the approximate cost of moving into the apartment. |
| | Application Fees |
| | Deposit on Apartment |
| | Deposits on Utilities |
| | Cleaning Fees |
| | Other Fees (Please specify). |
| | Moving Costs (rental truck, gas, etc. Please specify.) |
| | Total | | | | | | 5 |
| c. Determine the move-out costs. |
| | Cleaning Fees |
| | Carpeting Cleaning Fees |
| | Other Fees (Please specify.) |
| | Total | | | | | | 3 |
| 3. Go online and retrieve a standard apartment lease. Attach a copy of the lease.
Your lease agreement should address several important factors, such as:
Review your legal rights and responsibilities as outlined in the lease agreement.
Review the landlord's rights and responsibilities as outlined in the least agreement.
Your lease agreement should address several factors, such as: Enter your answers below in these blank cells. | | | | | | |
| | What happens to your deposit when you decide to move out? Is it returned to you or held to cover other costs? | | | | | | 7 |
| | What happens if you break the lease? | | | | | | 5 |
| | What is the policy on subleasing the apartment? | | | | | | 5 |
| | What other restrictions, if any, are in place for tenants? Please specify. | | | | | | 6 |
| 4. Research the tenant laws in your state. Some state laws tend to favor the landlord over the tenant, while others tend to favor tenants rights. |
| | What conclusions (two or more) do you have about the tenant laws in your state? | | | | | | 10 |
| | What surprised you the most when researching the laws regarding property rental in your state? | | | | | | 7 |
| 5. Leasing an apartment is only one option available when renting a place to live. You may decide that leasing a house is a better alternative for you or your family. |
| | What factors (two or more) would influence you decision on what type of residence to lease? | | | | | | 10 |
| | How does leasing an apartment compare to leasing a house? | | | | | | 7 |
| 6. Most universities offer on-campus living options for their students. You can obtain info about university on-campus living options from various web sites. Compare the terms of a university housing contract with a standard apartment lease. |
| | How is it similar? | | | | | | 7 |
| | How is it different? | | | | | | 7 |
| Attach either a copy of the first page of the lease in the second worksheet/tab of this file or include the website here. | | | | | | | 10 |
| Website: |
| | | | | | | Total | 100 |
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