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Finding an Apartment
| Term | Definition |
|---|---|
| Depreciating Asset | something you own that decreases in value over time |
| Appreciating Asset | something you own that increases in value over time |
| Lease | a legal document that contains the rent amount and the responsibilities of the landlord and tenant |
| Mortgage | a type of loan used to finance the purchase of real estate |
| Landlord | the company or individual who owns an apartment |
| Rent | the payment that the tenant makes to the landlord |
| Security Deposit | a sum of money held by the landlord to cover any damage caused by a tenant |
| Tenant | the person renting the apartment |
| Term | the length of a rental agreement |
| Utilities | services needed to make a house or apartment functional |
Created by:
tmikels52