Renting a Place and What It Really Costs · seed 1 · A4, ink-friendly. The answer key prints on its own page for grown-ups.

Work out what a flat really costs

Life Skills · Money & Finance · ages 16-18
Name ______________________   Date ____________

  1. Which income should you use to check whether your monthly living-cost budget is affordable?

    • A possible future salary before deductions
    • Reliable take-home income you receive now
    • A friend's income from a better-paid job

  2. Your monthly budget has £650 rent, £140 separate bills, £60 travel, £120 food and a £70 buffer. What is the total?

    • £1,040
    • £1,190
    • £1,110

  3. Flat A has £600 rent and £160 travel each month. Flat B has £680 rent and £40 travel. All other costs are equal. Flat A is cheaper overall.

    Circle one:   True   False

  4. You do not understand the agreement's guarantor and arrears terms. What should you do before signing?

    • Sign before asking what the payment terms require
    • Ask in writing; seek independent advice if needed
    • Rely on the viewing talk to explain payment duties

  5. Which tenancy clauses describe payments, ending the tenancy and repair duties?

    • Rent amount, tenancy length and deposit rules
    • Deposit terms, payment dates and utility bills
    • Rent amount, notice rules and repair duties

  6. Which statement about a tenancy deposit is accurate?

    • It is security; check local custody and deduction rules
    • It is prepaid rent used instead of the last month's rent
    • It is a repair fund for any work the landlord wants

  7. You expect to move for study next year. Which approach helps compare renting with buying?

    • Compare full costs and whether the exit terms fit
    • Choose buying because it must have lower total costs
    • Choose renting because no notice is ever needed

  8. At move-out, the landlord proposes a deposit deduction for a tile shown cracked in your move-in inventory and dated photos. How should you question it?

    • Accept the charge because proposed deductions are final
    • Send the photos and assume they guarantee the full repayment
    • Request records, dispute in writing and check local routes
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Answer key

For grown-ups. Fold this page away before handing over the rest.

Work out what a flat really costs W1-mt_jxyHZEprXc-s1

  1. Reliable take-home income you receive now · Use reliable income after deductions. A hoped-for salary cannot pay current bills.
  2. £1,040 · Add the five monthly amounts: £650 + £140 + £60 + £120 + £70 = £1,040.
  3. False · A costs £760 for rent and travel; B costs £720. With other costs equal, B is £40 cheaper each month.
  4. Ask in writing; seek independent advice if needed · Both terms concern payment duties. Find out what the actual clauses require before agreeing.
  5. Rent amount, notice rules and repair duties · Rent describes the payment, notice rules concern ending the tenancy, and repair terms describe duties.
  6. It is security; check local custody and deduction rules · A deposit is security. The applicable rules determine custody, protection and allowed deductions.
  7. Compare full costs and whether the exit terms fit · Compare the same period and check the terms against your planned move. Neither option is always cheaper.
  8. Request records, dispute in writing and check local routes · Request the deduction details, explain the dispute with your move-in evidence, and check the local process and deadline. Repayment is not guaranteed.
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