Searching for somewhere to live for the first time can be a daunting process. We've put together a list of terms to become familiar with throughout your rental search to make sure you're as informed about the process as possible, and can make the best possible choice for your future place to live. 

• Security Deposit--The tenant gives this specified amount to the landlord to hold in case of damages to the property upon moveout, defaulted rent, or extraneous cleaning costs upon moveout. The Security Deposit is almost always required at the time of signing the lease agreement. 
• Lease--An agreement between the future tenant and the landlord that includes how much the tenant will pay each month and rules for the specific property. This can include things like who is responsible for lawn maintenance, if pets are allowed on the premises, and the specific time period that the tenant is allowed to be in the space.
• Lessee/Tenant--The person that signs and pays to inhabit the property. 
• Lessor/Landlord--The person that owns the property and lists it for rent. 
• Quiet Enjoyment--The right to inhabit the property without interference. 
• Premises--The home or property that you are renting. 
• Renter's Insurance--the tenant can purchase renter's insurance to cover the cost of any personal belongings inside of the leased property and to protect themselves from legal consequences if an accident were to occur on the property. In some cases, the lessor may require a tenant to show proof of renter's insurance before signing a lease. 
• Sub-Leasing/Sublet--when a tenant allows someone else to take over the lease for a specified amount of time. This may or may not be allowed based on the parameters of the lease. 
• Assignment--allowing someone to sublet a lease
• Covenants--the arrangements, responsibilities, and rules the lessee and lessor agree to in the lease
• Default--if the tenant fails to pay rent or violates the lease agreement in any other way
• Eviction--when the lessee is legally removed from the home due to violating one or multiple covenants
• Rental Application--many properties require you to formally apply to show interest and intent to lease. This commonly includes personal information and may or may not include a background check and/or an application fee.