LIVING ON YOUR OWN

ADVANTAGES/DISADVANTAGES OF STAYING AT HOME AFTER HIGH SCHOOL

ADVANTAGES/DISADVANTAGES OF MOVING OUT ON YOUR OWN AFTER HIGH SCHOOL

PLANNING YOUR MOVE Where will you live What can you afford

Recommend no more than 25% of your monthly gross income

Apartment, house, mobile home What furniture will you need Roommate

Initial expenses Security deposit on apartments

Guarantee against damages 1-2 months rent

Utility hook ups Renter’s insurance Furniture or other household goods

Decide what you can afford before moving out of home

You have taken a job that pays $1900 (gross pay) a month. You are thinking about getting an apartment that would cost $450 to rent.

Can you afford this apartment?

What about one that is $500?

ROOMMATE QUESTIONS TO ASK YOURSELF Will a roommate prevent me from doing the

things I want to do How will I get along with this person Will this person be willing to share expenses Will this person share the household chores What happens if we do not get along or that

other person moves out

ROOMMATES--ADVANTAGES Cheaper to share Companionship Security of not living alone

APARTMENT CHECKLIST

RENTAL TERMS Lease

A rental agreement or a contact between a landlord and a renter

States the responsibilities of both parties Usually for one year, but might be negotiated Some require a lease, some do not

RENTAL TERMS Rent and due date

Is the place worth the amount When is the rent due What happens if you are late on rent

Security Deposit Is there an inventory of the apartment and the

condition of items How soon do you get your money back if nothing

is damaged

RENTAL TERMS Availability Utility charges

Included with the rent or not Average costs on utilities

Painting & repairs Will they take some off the rent if you do the work What can you do to the apartment

Pets

LEASE QUESTIONS Can the landlord raise the rent during the

period of the lease Is there a late fee if the rent is late How much notice must be given before

moving Under what conditions may the owner enter

during the tenant’s absence

LEASE QUESTIONS May the apartment be sublet Who maintains the exterior of the building—

especially a house Under what conditions can the landlord evict

the tenant Read through the lease before signing

TENANT’S RIGHTS AND RESPONSIBILITIES Expect the landlord to perform maintenance

and repairs in a reasonable amount of time You are expected to take care of the

apartment or pay for the damages You are responsible to pay the rent on time

and follow the lease

LANDLORD’S RIGHTS AND RESPONSIBILITIES May make changes to the apartment that were

not mentioned in the lease Assigning parking spaces

Keep apartment in good condition

How could not having a lease be to your disadvantage