leasing and property management #8

Question 1

Estate for years

Answer 1

the lease terminates automatically when the specified period (day, week, month, year, etc) ends.

defined period of time

Question 2

graduated lease

Answer 2

allows specific rent increases at future dates.

Question 3

gross lease

Answer 3

one in which the landlord pays taxes, insurance and maintenance

Question 4

lease purchase

Answer 4

when a tenant wants to buy a property but can maybe because of tax issues, title, or financing. a lease purchase may be an option

Question 5

sale and leaseback

Answer 5

the owner of a building sells the building and leases the building back

Question 6

subsurface leasing right

Answer 6

often use for minerals, oil, gas. it will enter into an agreement with the landowner

Question 7

a net lease

Answer 7

the tenant pays taxes insurance and maintenance

Question 8

operating budget

Answer 8

usually covering a one year period, this report, this report projects the income and expenses of operating a property

Question 9

cash flow report

Answer 9

usually created monthly. this report shows the current financial status of a property. it accounts the income received like rent, late fees etc and expenses paid like utilities repairs etc

Question 10

the housing community act of 1974 added what protected class to federal fair housing law

Answer 10

sex