Final answer:
It is generally true that you can rent out your place of residence, with conditions varying depending on ownership and local laws. Renting can be a way to manage your budget but lacks the long-term benefits of ownership like equity. Additionally, the historical practice of sharecropping where rent was paid in crop shares is true.
Step-by-step explanation:
The statement "You can rent out your place of residence to another citizen" is generally true, although there may be specific legal, contractual, or regulatory conditions that must be met to do so legally. For example, if you are a tenant renting from a landlord, you may need permission to sublease. On the other hand, if you own the property, you may be more flexible to rent it out, but you must still comply with local laws and housing regulations.
Renting out a residence can help offset monthly expenditures in your budget, but it often involves the responsibility of becoming a landlord and maintaining the property for your tenants. The alternative is owning a home, which, while more expensive upfront and in terms of ongoing costs like maintenance and property taxes, offers the benefit of eventual ownership and potential equity building over time.
As for sharecroppers, it is true they were tenant farmers who paid their rent with shares of their crops, according to historical references. This arrangement was common in certain periods, especially following the Civil War in the Southern United States.