Term
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Definition
| Contract specifying the legal responsiblities of boththe tenant and the landlord. |
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Term
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Definition
| month-to-month, where the agreement can be terminated by either of the parties if they give priper notice in advance. |
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Term
| Tenancy for a specific time |
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Definition
| usually for one year, at end of term agreement expires, unless renewed. |
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Term
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Definition
| roommate, original tenant leases to another, protect from overcrowding |
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Term
| security deposit / damage deposit difference |
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Definition
damage - amt given in adv to a landlord to pay for repairs beyond the damage expected from normal wear and tear.
Security - ensure tha tyou do not move without paying your rent. |
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Term
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Definition
| Cooperative, owner holds a share of the corporation that owns and manages a group of housing units. |
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Term
| Rent vs own (in condo vs apartment) |
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Definition
| Renters cash flow is better. |
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Term
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Definition
| Interest Point, is a fee equal to 1 percent of the total loan amount. |
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Term
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Definition
| DEPOSIT on a offer for a home purchase |
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