Renting: Leases, Deposits, and Roommates
Aligned to JS:FD-9 — Jump$tart National Standards in K-12 Personal Finance Education & Advance CTE Career Clusters.
What this lesson teaches
A lease is a binding contract for a fixed term. It says what you owe, what the landlord owes, and what happens if either side stops. A security deposit is your money held against damage beyond normal wear, and most states require it back within a set number of days with an itemized list of any deductions.
Worked examples
Example 1
Photograph every room the day you move in, with the date visible, and email the photos to yourself. That five-minute habit is what gets deposits returned.
Example 2
Rent is not the cost of renting. A $1,200 apartment with $90 utilities, $18 renters insurance and a $35 parking fee costs $1,343 a month.
Example 3
On a joint lease, every tenant is responsible for the whole rent, not their share. If a roommate leaves, the landlord can pursue you for all of it.
Practice questions
- List five things to check before signing a lease.
- Compute the true monthly cost of a $1,050 apartment with $75 utilities and $20 insurance.
- Why is a joint lease risky if a roommate moves out?
Watch the lesson
Every lesson comes with a video taught in English and Spanish — the same video the QR code in the printed workbook opens.
▶ Watch this lessonEn español
Rentar: contratos, depósitos y compañeros de cuarto
Un contrato de arrendamiento obliga por un plazo fijo. Dice qué debes tú, qué debe el arrendador y qué pasa si alguno se detiene. El depósito en garantía es tu dinero retenido contra daños más allá del desgaste normal, y casi todos los estados exigen devolverlo en cierto número de días con una lista detallada de cualquier descuento.
Ejemplo 1: Fotografía cada cuarto el día que te mudas, con la fecha visible, y mándate las fotos por correo. Ese hábito de cinco minutos es lo que hace que devuelvan los depósitos.
Ejemplo 2: La renta no es el costo de rentar. Un departamento de $1,200 con $90 de servicios, $18 de seguro de inquilino y $35 de estacionamiento cuesta $1,343 al mes.
Ejemplo 3: En un contrato conjunto, cada inquilino responde por toda la renta, no por su parte. Si un compañero se va, el arrendador te puede cobrar todo a ti.
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