Explore shared housing costs and landlord responsibilities: test your skills
Renting part of the home you live in can offset housing costs — and makes you a landlord, with rules to follow. Answer each question to see the explanation; your score appears at the end.
This test checks that you can
- Explain house hacking
- List the rules and responsibilities
- Run numbers with vacancy included
- Practice
1. House hacking means…
- Practice
2. Rental income is generally…
- Practice
3. Conservative numbers include…
- Key idea
4. Which statement best explains "Rent offsets housing"?
- Key idea
5. Which statement best explains "You become a landlord"?
- Key idea
6. Which statement best explains "Plan for empty months"?
- Action plan
7. In the action plan, which step comes first?
- Mistake to avoid
8. Which of these is a mistake this lesson warns against?
- Mistake to avoid
9. Which of these is a mistake this lesson warns against?
Rent $750 a month, expected empty 1 month a year. What yearly rent should you plan on?
Show the answer
$8,250
11 × $750 = $8,250.
If you have a spare room, estimate local rent and reduce it by two months for vacancy.
More tests in this bootcamp
- Compare renting and buying with the full costs
- Check home affordability with the 28/36 guideline
- Balance your down payment, PMI and cash cushion
- Count closing costs before you buy a home
- Build a home repair reserve before something breaks
- Explore shared housing costs and landlord responsibilities
- Understand REITs: property exposure through investments
- Final exam: Housing and real estate