Leases, Rents And Property Management Flashcards
Which of the following is not a leasehold estate?
Tenancy by the entireties, estate for years, periodic tenancy, estate at sufferance
Tenancy by the entireties
What type of the lease requires the tenant pay all the property charges including taxes and insurance?
Triple net lease
Which tenant would most likely have signed a percentage lease?
Tire manufacturer, a family for a duplex, a private school or an office supply store
An office supply store
Which event would likely terminate a lease prematurely
Subleasing, assignment of the lease, selling of the property or death of the lessee
Death of the lessee
What happens to a lease when the landlord dies?
The landlord estate continues to be liable for the lease
What type of lease allows for periodic adjustment in the terms based on the Consumer Price Index
Indexed lease
What type of lease requires the tenant to pay based on the amount of sales the tenant has?
Percentage lease
Does the voluntary sale of the property cancel a lease?
No
Does the foreclosure of the property cancel a lease?
Yes
What type of lease requires the landlord that pay all the property charges including utilities?
Gross lease
A tenant vacated a leased unit prior to end of the lease and without the landlord’s permission allows a friend to move in and make the lease payments. What has happened?
Subleasing
During the winter a home’s heating system fails. Once notified the landlord refuses to fix the heater. What is the remedy for the tenant?
Constructive eviction
The federal lead-based paint disclosure act does not apply to which leased unit?
A commercial strip mall
