LL and Tenant Flashcards
Leasholds
What is a leasehold interest?
HIGH
A lease greants a tenant to present possessory interest in real property for a limited poeriod of time.
Types of Leaseholds
Tenancy for Years
HIGH
lasts for a fixed period of time; automatically teminated after the period ends
no notice required to terminate (typical lease)
Types of Leasholds
Periodic Tenancy
HIGH
lasts for an intital period, then automatically continues for additional equal periods (weekly/monthly) until terminated by proper notice
Types of Leasholds
Creation of Periodic Tenancy
HIGH
Created by
1) express agmt
2) implicaiton if rent is paid at speciifc periods or
3) law (when tenant for years remains after termination or lease is invalid)
Types of Leaseholds
Termination of Periodic Tenancy
HIGH
written notice at least a full period in advance (if yearly, 6 month notice)
Types of Leaseholds
Tenancy at Will
HIGH
continues until either party terminates it; usually created by express agmt
Types of Leaseholds
Termination of Tenancy at Will
HIGH
notice and reasonable time to quit the premises (in some states, no notice is required)
Types of Leaseholds
Tenant’s Duty to Pay Rent
What can LL do if tenant does not pay?
MEDIUM
runs with the land
-If tenant remains on land and does not pay rent, LL can
a) evict or
b) allow the tenant to remain of the property and sue for damages
Types of Leaseholds
What is tenant abandons the property?
MEDIUM
If tenant abandons and does not pay rent, LL may have to take reasonable steps to mitigate losses
Types of Leaseholds
Hold-over tenant
What may a LL do?
MEDIUM
If tenant holds-over the LL may
a) initiate eviction proceedings OR
b) hold the tenant over
Types of Leaseholds
What type of leasehold is created when a tenant holds over?
MEDIUM
Tenancy at Sufferance
Modern view: implied month to month tenancy is created
Common Law: term is equal to original tenancy period
(if tenant informed of higher rent before lease ends, the higher rent applies)
:Leasholds
LL Duties
MEDIUM
1) actual possession of property on Day 1
2) basic repairs
3) warranty of habitability
4) implied covenant of quiet enjoyment
LL Duties
Warranty of Habitability
MEDIUM
LL must provide a place to live that is habitable –>reasonably suited for human needs
implied in all residential leases, some courts impose in commercial
LL Duites
Breach of Warranty of Habitability
MEDIUM
If breached, tenant may:
1) move out and terminate
2) withhold or reduce rent
3) repair and deduct OR
4) remain and sue
LL Duties
Implied Covenant of Quiet Enjoyment
Constructive eviction
HIGH
Every lease includes this
-prevents a LL from interfering with the tenant’s quiet enjoyment and possession of the property