18 Renting a Home Flashcards
What is a grace period?
The time between the rent due date and the date that late fees are charged.
This period allows tenants to pay rent without incurring penalties.
Define habitability.
The condition of a property that is suitable for human dwelling.
This includes factors like safety, sanitation, and essential services.
Who is a landlord?
A person or organization that owns and leases apartments to others.
Landlords have specific legal rights and responsibilities towards their tenants.
What is a lease?
A contract specifying both tenant and landlord legal rights and responsibilities.
Leases outline the terms of the rental agreement, including duration and payment terms.
What does rent refer to?
Cost charged for using an apartment or other housing space.
Rent is typically paid on a monthly basis.
What is a security deposit?
An amount required by the landlord to provide some assurance that the tenant will not move without paying the rent.
This deposit is often refundable at the end of the lease, depending on the condition of the property.
What is subleasing?
An arrangement in which the original tenant leases the property to another tenant.
Subleasing typically requires the landlord’s approval and can involve different terms than the original lease.
Who is considered a tenant?
An occupant or inhabitant of any place.
Tenants have rights and responsibilities as outlined in their lease agreement.
