Property Management Flashcards
A tenant may be justified in abandoning a leased property if the landlord has constructively evicted the tenant. Which of the following acts would be an example of constructive eviction:
A The landlord has shown the property to a new prospective tenant and has entered into lease negotiations with the new tenant
B The landlord has failed to make necessary repairs to the premises
C The landlord has made extensive and unwarranted alterations to the premises, making it no longer usable for its original purpose
DAll of the above
All of the above
A lessee may abandon the property by all of the following except
A When property becomes dilapidated due to tenants negligence
B Condemnation by Eminent domain
C Failure of the landlord to make repairs
D Eviction notice
When property becomes dilapidated due to tenant’s negligence
The legal process to evict a defaulting tenant is called:
[A 3 day notice
B Unlawful detainer action
[C 30 day notice
[D Surrender
Unlawful detainer action
An estate at sufferance is:
A The lessee keeps possession of a lease after expiration of the lease term
B Possession of a lease after expiration of the lease term sellers approval
C Possession of a lease during the lease
D Eviction of a lease for non-payment of rent
The lessee keeps possession of a lease after expiration of the lease term
When a tenant moves out, the landlord can retain as much of the security deposit as is reasonably necessary to cover all of the following expenses, except:
A Unpaid rent
B Reasonable cleaning of the premises
C Storage costs for items of personal property left in the premises by the tenant
D Repair of the damages to the premises
Storage costs for items of personal property left in the premises by the tenant
A tenant has a three year lease with the lessor of an apartment building. At the end of year one, the tenant is transferred to another city. The lease between the lessor and lessee is silent on the tenant’s ability to sublease or assign the lease. In this case:
A The lessee may sublease, but not assign, the lease
B The lessee may either assign or sublease the apartment, without the permission of the lessor
C The lessee may assign, but not sublease the apartment
D The tenant must have the lessor’s permission to either sublease or assign the lease
The lessee may either assign or sublease the apartment, without the permission of the lessor
When a lease requires the tenant to pay certain expenses of the property in addition to his rent such as taxes and insurance, the lease is called:
A a net lease
B Escalator lease
C Gross lease
D Percentage lease
A net lease
A property management agreement usually arranges for the payment of compensation as follows:
A A minimum fee plus a percentage of the net income
B A Flat fee plus a percentage of the gross income
C Out of pocket expenses plus a percent of the gross income
D On duties performed
A Flat fee plus a percentage of the gross income
When leasing industrial space, the landlord or property manager is require make sure the property:
A Complies with the Americans With Disabilities Act (ADA)
B Is in perfect condition
C Has no encumbrances
D Complies with all applicable building codes
Complies with all applicable building codes
A tenant of an apartment complex was working on heating ducts. The tenar sees that the ducts contain asbestos insulation. Does the tenant have a legal obligation to warn anyone he should:
A Let owner know by certify mail
B The tenant has no legal obligation to warn people
C Let the repairman know
D Report it to the Department of Real Estate
The tenant has no legal obligation to warn people
When leasing a Commercial Property that is merely a “shell” space, the landlord ften agrees to spend a specific amount for a qualified tenant. This amount is
roperly designated as:
A Rent Abatement
B A Tenant Improvement Allowance
C A Security Deposit
D Earnest Money
A Tenant Improvement Allowance
The maximum amount of deposit allowed for a landlord to charge to a lessee is
A 2 months
B 3 months
C Depends if its furnished or unfurnished
D All of the above
Depends if its furnished or unfurnished
The final disposition upon termination of a lease of the tenants deposit is:
A 21 calendar days
B 21 business days
C 60 business days
D 60 calendar days
21 calendar days
An instrument which usually transfers possession of real property, but does r transfer ownership is:
A A mortgage
B A sublease or lease
C A security agreement
D An easement
A sublease or lease
A landlord can evict a delinquent tenant by:
A Giving him three days notice
B Giving him thirty days notice
C Calling the sheriff
D Bringing court action
Bringing court action
