chapter 21 and 22 test Flashcards
What is co-op?
You get a room similar to a dorm but with lower cost and added responibilities
What is bundling?
Combining services into one package
What/ who is a tenant?
A person who rents property
What/ who is a landlord
A person who owns the property
What are some advantages of renting?
Mobility, convenience, social life and lower cost
What are some disadvantages of renting?
Noise, lack of privacy, small space, lack of storage space, bad parking
What is the market value
The highest price that the property will bring on the market
What is appraised value?
You can determine this by the size, features and quality as compared to similar homes in the same area
What is assessed value?
The purpose of computing property taxes owed against your home, city or county in which you live
