ELI5: Explain Like I'm 5

Renting

Renting is when you pay to use something that belongs to someone else for a little while, like a toy or a book. Most grown-ups rent places to live in, called apartments or houses. It's like you're borrowing the place to stay there for a while, but you have to give it back when you're done with it.

When you rent a place to live, you pay the owner of the place some money every month. The owner is called a landlord. In exchange for the money they get from you, they let you use the place to sleep, cook, and do all the things you need to do to live.

Sometimes the landlord might ask you to sign a special paper called a lease. It's like a promise that you will pay the rent on time and take care of the place while you're living there. When the lease is over, you might be able to sign a new one if you want to stay longer, or you can move to a different place if you want.

Some places you can rent come with furniture and appliances like a bed, couch, fridge, and stove. Other places might be empty, and you have to bring your own stuff. It's important to talk to the landlord about what you will need when you move in so you know what to expect.

Renting can be a good choice if you're not ready to buy a house yet, or if you need to move around a lot. It's also a good way to learn how to take care of a place on your own before you buy your own house someday.