Finding an Apartment

Term Definition
Landlord The company or individual who owns an apartment.
Lease the names of the tenant(s), the rent amount, and the responsibilities of the landlord and the tenant.
Rent The payment, usually monthly, that the tenant pays to the landlord.
Security Deposit A sum of money, usually equal to one month’s rent, held by the landlord to cover any damage to the apartment caused by a tenant.
Tenant The person renting the apartment.
Term The length of a rental agreement, usually a period of one year.
Utilities Services needed to make a house or apartment functional, such as hot water, electricity, natural gas, and cable and Internet service.
Depreciating Asset something you own that decreases in value over time, meaning that if you sell the asset
Appreciating Assets something you own that increases in value over time.
Mortgage a type of loan used to finance the purchase of real estate

Leave a Reply

Your email address will not be published. Required fields are marked *