Financial Responsibilities of Renting

Question 1

What are the financial responsibilities of a tenant in terms of a deposit?

Answer 1

• the tenant usually pays a deposit of one month’s rent
• and the first month’s rent
• before occupying the property

Question 2

What does the deposit do?

Answer 2

• protects owner from financial losses
• that may occur if tenant fails to pay rent
• or damage to the property

Question 3

What are the financial responsibilities of a tenant in terms of rent?

Answer 3

• tenant pays rent on a monthly basis

Question 4

What are the financial responsibilities of a tenant depending on the lease agreement?

Answer 4

• may be responsible for paying for water, electricity and waste removal costs