1. Bellringer
Draw a sketch of your ideal first apartment or home. Think about:
How many bedrooms and bathrooms would you like to have?
How many closets do you need for all your Nikes?
Do you want a patio/balcony?
How big of a kitchen will you want?
What kind of appliances (refrigerator, dishwasher, washer/dryer, etc) will you want?

2. Going to college instead of real world after high school?
Do you think this makes it easier to rent an apartment and manage money during this time?
This is a time many students rack up MASSIVE amounts of debt!
Be smart. Don’t put things on your credit card in college that you’ll be paying for 20 years later---like furniture, electronics, or rent!
Live within your means, but how?

3. How many Americans live alone?
Year
% Living Alone (without a roommate or spouse)
1900
1960
2010

4. How many Americans live alone?
Year
% Living Alone (without a roommate or spouse)
1900 2%
1960 6%
2010
15%

5. Why do so many Americans live with others?

6. Consider the cost of living in America today:
Average Expense
Lexington, KY
New York City, NY
House
Apartment Rent
Utility Bills
Haircut
Movie Ticket
Hamburger
Pizza
Gallon of Gasoline
Tube of Toothpaste
New Shirt

7. Consider the cost of living in America today:
Average Expense
Lexington, KY
New York City, NY
House
$220,296.33
$1,123,114.00
Apartment Rent
$770.00
$2,776.33
Utility Bills
$165.05
$356.08
Haircut
$26.80
$47.40
Movie Ticket
$9.25
$12.08
Hamburger
$2.99
$3.92
Pizza
$10.16
$11.86
Gallon of Gasoline
$3.70
$4.00
Tube of Toothpaste
$2.05
$4.49
New Shirt
$22.73
$43.58

8. It’s easy to manage the money. It’s just an apartment, after all. Right?!
Take a look at Theo’s experiment from The Cosby Show.
Theo's Holiday
As you watch,
write down two things that surprised you or you didn’t consider.
Write down two things you already knew.
Discuss.
OPTIONAL!

9. Where do I start? What are the steps?
Click here if technology is trippin’ today.

10. Notes: #1 Do Your Homework
Where can you find apartments?
Free apartment guides at convenience stores, Craigslist, newspaper classifieds, etc.
Online by searching for a particular complex or visiting a mass renter’s index like forrent.com
Visiting the leasing offices of apartment sites

11. Notes: #1 Do Your Homework
Don’t-Get-Played Tip:
No picture of the property, no street address listed, no phone number, then SKIP IT.
Scam to steal your personal information!
“Landlord” refuses to give the address of the property up front: it doesn’t exist or you don’t want to live there!

12. Notes: #2 Don’t be “House Poor”
Only spend ¼ of your total monthly income on your living space! Landlords will ask for proof of income, and most will not rent to you unless you follow this rule.

13. Notes: #3 Cruise the Neighborhood
Landlords want your money, so they might try to sugar-coat their answers about crime, pests, neighbor behaviors, etc.
Drive the neighborhood during day AND night.
Talk to the neighbors.
Trust your instinct.

14. Notes: #4 Inspect the property
SERIOUSLY inspect: Open cabinets Open windows Turn on faucets and shower Flush the toilet Check appliances Look for signs of pests

15. Notes: #4 Inspect the property
Don’t-Get-Played Tip:
Do a final walk-through BEFORE you sign your lease and put down your security deposit.
Take pictures of any damage you see, write it down, and have the landlord sign it. You’ll want to save this for later in case your landlord tries to keep your sec. dep. for damage you didn’t do!

16. Notes: #5 Prepare your Documents/References
You will need:
Name/address/phone of any previous landlords and a couple of personal references.
Name/address/phone of current and previous employers
Copy of last paystub (keep them!)
NO previous rental history or no job means you will need a co-signer!

17. Notes: #6 READ YOUR LEASE AGREEMENT
The WHOLE thing. EVERY WORD! This is the ultimate Don’t-Get-Played Tip! The lease is a legal contract, and the landlord can put any rules in there that he/she wants. Read it and make sure you agree with every single word!

18. A Note About Section 8
Housing assistance program for low-income families.
Can apply through the local housing authority (
Pay around 30% of your adjusted monthly income for rent.
Limited to specific houses or apartment complexes.

19. Now you try! Find an apartment based on your income.
You will be given a monthly income based on your grade in this class.
Using the apartment guides, Craigslist or other tool of your choice, find THREE available apartments in Lexington that fit your given income.
Complete the comparison handout for your three apartments.
Make sure to answer the question at the end about the best of your three choices.
Fill out a rental application and lease agreement for the property of your choice.