Are You Ready for Your First Apartment?

1. You should check your credit before looking for an apartment because:

A. You’ll get a better deal

B. Apartment complexes require good credit

C. It’s common for landlords to check credit before offering you a lease

D. You don’t want your rent to hurt your credit score

Correct!

Wrong!

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2. Renter’s insurance is best described as…

A. Property insurance that covers your personal property in the event of a break-in, fire, or vandalism

B. Liability insurance that covers you if someone gets injured in your apartment

C. Both a and b

D. None of these

Correct!

Wrong!

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3. You may need a co-signer if…

A. Your credit is tarnished

B. You’re a first-time renter

C. You don’t meet the minimum monthly income requirement

D. Any of these

Correct!

Wrong!

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4. In addition to rent, you should consider which of these costs when budgeting to move out on your own:

A. Any utilities or subscriptions not included in your rent

B. Cost of renter’s insurance

C. Cost of living including food, parking, clothing, and any other costs you should expect to incur

D. All of the above

Correct!

Wrong!

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5. When leasing, you will most typically need to pay up front:

A. A month’s rent

B. A month’s rent and a month’s security

C. Nothing, you’ll typically be able to do a pay-as-you-go

D. First and last month’s rent and a month’s security

Correct!

Wrong!

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6. When reading a lease agreement, you should pay attention to…

A. Length of the lease term

B. Early termination fees and sublet policies

C. Repair policies and procedures

D. All of the above

Correct!

Wrong!

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7. During the walk-through, you should be on the lookout for…

A. Inoperable appliances and outlets

B. Interior and exterior damage

C. Flying insects — or any other undesirable creatures or critters

D. All of the above

Correct!

Wrong!

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8. A real estate agent can help you with your apartment search by…

A. Helping to negotiate favorable terms

B. Aiding in the walk-through and helping identify structural damage

C. Finding more affordable rentals than what’s advertised online

D. All of the above

Correct!

Wrong!

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Are You Ready for Your First Apartment?