Key Concepts

  • An understanding of renting and the costs involved. 
  • How to review rental options, factoring in housemates, property condition and overall cost. 
  • The importance of a tenancy agreement, what it's function is, and why it is vital to have one when renting. 

How It Works

1. Initial Quiz

  • Students will start with the Renting quiz, earning rewards for their correct answers. 

2. Introduction to the Rental Market

  • Students begin by living at home, however there is a cost associated with this. They will pay their family $350 per week to live at home.
  • Students will be introduced to the Banqer Rental Market which contains a number of rental properties for them to review.
  • Each property listing will show the number of vacant rooms, the weekly rent cost, and the property condition. 
  • Students will be encouraged to apply for a rental property and move out of their family's home, and it is usually more economical for them to do this. 

Key features of the rental properties:

  • Variety in Price and Condition: Properties will differ in cost and overall quality.
  • Group Renting: Students can lower rental costs by sharing a property with others, provided enough rooms are available.

3. Renting as a Group

If students choose to rent as a group, the process works as follows:

  • One student rents a room in the chosen property and becomes the first tenant.
  • This student can invite others to join their rental.
  • Invited students will receive a notification and can accept the invite, which will evenly split the rent among all tenants.

4. View and accept a tenancy agreement

  • Before moving in, students must accept the tenancy agreement. Encourage them to carefully read through the details to understand their responsibilities as tenants.

5. Setting Up Rent Payments

Once students secure a property, they will need to set up their rent payments. The platform will guide them to establish an automatic weekly payment for their rent and other associated living costs. 


Leaving a Rental Property

Students can choose to leave their rental property, but they must provide one week’s notice before officially moving out.

For group rentals:

  • The remaining tenants are responsible for covering the rent for the vacant room until it is filled by another student.

When a student leaves a rental property, they must either:

  1. Rent a new room elsewhere.
  2. Purchase a property and move in.

If they fail to do either, they will automatically move back home and resume paying $350 per week to their parents.


Teacher Tools

Property Overview: Within the Property Expansion area you will be able to scroll down and view the Property Overview. This will show you a view of how your students have interacted with the Renting expansion so far, showing their status, address, rent cost and expenses cost. 

Property Market: Under the Property Overview you will also have a view of the full Property Market, showing all the rental properties that your students can see. You can click on any of these to view more of the information.

See the guide at the end of this article for a visual step-through on how to navigate through these tools. 


Lesson Support

To help guide your class through this expansion, a comprehensive Lesson Plan is available, including:

  • Step-by-step instructions.
  • Linked worksheets for in-class activities.
  • Vocabulary builders to introduce key financial terms.
  • Discussion ideas to promote classroom engagement and critical thinking.

  • For information on how to enable expansions and access these resources, please see the related article here.