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33 Cards in this Set
- Front
- Back
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State 4 reasons for moving from home |
1) Financial pressure at home 2) Conflict at home 3)Opportunity for employment/ study 4) Need for independence |
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What are 3 issues for independent living |
1. Cooking and Cleaning 2. Overcoming home sickness 3. Finding a safe place to live |
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Name a support organisation provided by: gov, religious and community |
Gov: Centrelink Religious: Vinnies, Salvation Army Community:Life line |
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Name 4 reasons why housing is important |
1. Protecting from weather 2. Health 3. Employment 4. Access to education |
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What are 4 benefits of shared accommodation |
1. Sharing the cost 2. Teaches you about life 3. Dealing with new people 4. Develop maturity and independence |
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ESTABLISHMENT COSTS ARE:
What are some examples |
- one off costs e.g rental bond, furniture, fridge |
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ONGOING COSTS ARE: list examples |
- costs that you have to pay regularly e.g rent, electricity, paid TV, gas |
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Auction is: |
A process where interested parties bidon a property. The highest bidderpurchases the property |
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Private treaty is: |
This is where the the vendor andpurchaser negotiate a price that suitsboth parties. |
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Conveyancing is: |
legal procedure and checks use to transfer ownership of property |
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Mortgage is |
a financial institution will loan you money in exchange for security in the house. |
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Car ongoing costs: |
-insurance - registration - petrol - taking out a loan with interests |
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To avoid financial problems what are some things you can do? |
- Each person in house pays a set amount into a central fund (kitty) that pays bills ● Set of rules with rostering for cleaning ● Household budget to meet expenses including planned income and expenses ● It is often difficult to take legal action against a flatmate who has refused to pay some of their debts as many of the agreements are verbal. |
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Rent is |
Rent: money paid for leasing a property. |
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Subletting is... |
Sub-letting: a person who has a lease will often rent out rooms to other people |
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What does a bond cover? Will it be returned? |
Bond: a deposit that covers any damage caused to the property. This money will bereturned if the property is in good order when the lease expires. |
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What is a lease? |
Lease: formerly known as a residential tenancy agreement. It outlines rights andresponsibilities of both landlord and tenant |
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Landlord right and responsibilities are: |
- repairs and damage - quiet enjoyment - fit for habitation |
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A conditional report is |
The exact condition of the property when you moved in. |
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Reservation fee |
One week’s rent that will reserve premises while application is being considered |
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Is it a right of a tenant/landlord? Right to cancel/reduce the rent increaseby a later notice |
Landlord |
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Is it a right of a tenant/landlord? Receive rent on time |
Land lord |
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Is it a right/responsibility of a tenant or landlord? Pay for rates, taxes , charges (underagreement) |
Landlord |
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Is it a responsibility of a tenant or landlord? To inspect house 4x a year w/ a weeksnotice |
Landlord |
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Is it a right of a tenant or landlord? Right to enjoyment |
Tenant |
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Is it a responsibility of a tenant or landlord? Right for all charges to be paid for thesupply of the electricity, gas, oil |
Tenant |
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Is it a right of a tenant or landlord? Right to live in a residential premisesthat are clean and fit to live in |
Tenant |
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Is it a right of a tenant or landlord? Right to be provided with locks |
Tenant |
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Who has the duty to prepare condition report? |
Landlord or tennant |
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One of the costs for buying a home is (involves a lawyer): |
Solicitor’s fees -solicitor will send you an account for doing the conveyancing, based on thesliding scale depending on the purchase price of property-fees of $800-$1000 |
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You need to pay stamp duty when buying a home. where does it go and who arranges it? |
Stamp Duty -calculated as a percentage of purchase price and paid to gov. -solicitor arranges this for you |
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What do you need to pay to have insurance? |
-people pay an annual monthly amount (a premium) -insurance company pays out a sum to cover losses/costs |
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What is public liability? |
Public liability: if public is injured on your premises, you have back up money to use at court |
