What Kind of Property Can People Rent to Earn an Income?

Grade: 4 Lesson # 11 What kind of property can people rent to earn an income?

SS.4.FL.1.5. People can earn income by renting their property to other people. Identify different types of property (such as apartments, automobiles, or tools) that people own and on which rent is paid.

1 SS.4.FL.1. 5. People can earn income by renting their property to other people. Identify different types of property (such as apartments, automobiles, or tools) that people own and on which rent is paid.

Lesson Number: 11

Correlated Florida Standards (See Full Text on Cover Page) LAFS.4.RI.3.7 , LAFS.4.SL. 1.1

Essential Question What kind of property can people rent to earn an income?

Learning Goals/Objectives Students will identify different types of property that people can earn money by collecting rent.

Overview This lesson will introduce students to earning income through property rentals. Students will learn about different rental businesses that rent goods.

Materials  PowerPoint Presentation (Included in Lesson File)  Student journal

Time  30 minutes

Activity Sequence

INTRODUCTION/HOOK (5 Minutes) Display Slide 1 of PowerPoint presentation included in Lesson 4 File. Read the Essential Question. Brainstorm with students about different kinds of property that might earn rental income. ACTIVITY (20 Minutes) 1. Slides 2-11 will teach students about types of rental property that can earn money. Discuss each slide, the images in the slides and ask students questions as you read through the slides. 2. Display Slide 2 Ask: Have your parents ever rented something? Hotel room?, house?, apartment? Have you ever jumped in a bounce house at a birthday party? 3. Display Slide 3 Compare renting verses buying with the students. Tell students: -Goods that are rented have to be returned to the owner. -People rent things they need because it costs less than buying. -People rent things because the need is temporary. Ask: What can people rent? Brainstorm with the students and list ideas on the board. Tell students: -Instead of renting goods people can buy them. -When you buy goods you own them. -People pay full price for the goods. -People buy goods because they are going to needs them for a long time. Ask: What are goods that people would probably buy instead of rent? Brainstorm with the students and list ideas on the board. (1-3= 5 minutes) 4. Display Slide 4 Say: How do people earn money by renting property? Let’s look at Lola. -Lola wants to EARN money on the days she does not use her car. -So she decides to rent the car. -She rents it to Maria for $65 per day, for two days. -Lola earns $130.00 -When Maria returns the car and Lola can rent it again she can earn more money. -People earn money from renting property because people pay the owner to use their property and then return it, so then the owner can rent it again and again. -Just like people rent their property to earn income, you can start a rental business to earn money. -As we continue to go through the slides you will learn about types of property that people own and rent is paid. -Ask students if they have any questions and clarify. ( 5 minutes) 5. Display Slide 5 Say: The first type of property we’re going look at is homes/shelter. -People rent houses and apartments that they don’t live in. They often buy properties to rent them. -Some people have large homes with rooms that are no longer being used, so they to rent the empty rooms to earn income. -A hotel owner rents rooms in the hotel on a nightly basis. 6. Display Slide 6 Say: Businesses rent spaces in buildings and shopping centers to establish their business. Offices, stores, restaurants, storage etc.. 7. Display Slide 7 Discuss the different vehicles and why might someone want/need to rent them? 8. Display Slide 8 Say: Businesses earn income by renting goods. 3 This business rents construction equipment. Ask: What type of goods does this business rent? What is this equipment used for? Why would someone rent it instead of buying it? (5-8 = 5 minutes) 9. Display Slide 9 Say: Businesses earn income by renting goods. This business rents medical equipment. Ask: What goods does this business rent? What is this equipment used for? Why would someone rent it instead of buying it? 10. Display Slide 10 Say: Businesses earn income by renting goods. Ask: What type of goods does this business rent? This business rents furniture. Office, House, Outdoor, any piece of furniture can be rented. Why would someone rent furniture instead of buying it? Discuss with students. Reasons why someone would rent these goods instead of buying them. 11. Display Slide 11 Say: Businesses earn income by renting goods. Ask: What goods does this business rent? This business rents party supplies. Tables, chairs, linens, plates, glass, silverware, anything needed for a party. Name the items in the slide and discuss with students. Why do people rent these items instead of buying them? 12. Display Slide 12 Read the statement to the students and ask students to answer the questions in their journal. Ask volunteers for the answers. As you click the answers will appear. Ask the student’s to provide their opinion, is renting your bike a good way to earn money? 13. Display Slide 13-14 Tell the students to work out the problems in their journals. Once students have completed the problems, ask students to volunteer the answer. As they answer click so that the answers will appear in red. Do the same for each slide. Ask tstudents to provide their opinion, is renting goods a good way of earning money? Why? Are there any bad things about renting your goods? (damage, worn out, lost) (9-12 = 5 minutes) CLOSURE (5 Minutes) Display Slide 15 Give students one minute to list as many different kinds of property that can be rented to earn income.

Tell students to think about what they own. List property that you own that you would be able to rent to earn money. Then tell why you think people would pay you to use it temporarily.

SOURCES/BIBLIOGRAPHIC INFORMATION THAT CONTRIBUTED TO THIS LESSON: Google Images.https://images.google.com/

EXTENSION ACTIVITIES/RESOURCES Buying vs. Renting. http://www.econedlink.org/teacher-lesson/162/