Property Mgmt Flashcards
A % Lease is a Lease in which the tenant pays a % of Gross Monthly Receipts in addition to a base rent. What is true regarding % Leases?
The Higher the Gross Receipts, the Lower the % Rate.
What is % Lease?
Commercial Real Estate Lease. It involves paying the landlord a portion of any profits the tenants makes plus base rent.
How often may a tenant make needed repairs & deduct the amt. from the rent?
Twice a year (2x/year)
The maximum deposit allowed on an unfurnished property is not more the amt. of:
Two Months’ Rent.
The remedy of Unlawful Detainer would be used by the offended:
Lessor
The right of quiet enjoyment & possession means the landlord must protect the tenant from:
Possession w/out disturbance from someone claiming paramount title.
What is a Paramount Title Holder
any legal interest in the premises that is not terminable at will of the landlord or at the time the tenant is entitled to take possession.
The term “Walk-Up” refers to:
Apartments (or office building) of several stories that has no elevator.
Who would pay the lowest % Lease?
A Chain Grocery Store.
