Session 9 Arizona Landlord Andntrnant Act

Question 1

Actual eviction

Answer 1

The physical removal of a tenant from a leased property with the tenant relieved of any further responsibility to pay rent

Question 2

Affidavit of affixture

Answer 2

A document for owners of mobile homes certifying that the home is immobilized, i.e. Encr to real property

Question 3

Constructive eviction

Answer 3

A landlords act (or failure to act) that interferes with the tenants quiet enjoyment of the property, or makes the property unfit for its intended use, to such an extent the tenant is forced to move out

Question 4

Distraint for rent

Answer 4

The seizure of a tenants property by a landlord to obtain payment for rent; illegal in Arizona

Question 5

Dwelling unit

Answer 5

A structure or the part of a structure that is used as a home, residence, or sleeping place by one person who maintains the household or buy two or more persons to maintain a common household

Question 6

Familial status

Answer 6

I protected group under the federal fair housing act, making it illegal to discriminate against a person because he is a parent or guardian of the child less than 18 years of age.

Question 7

Landlord

Answer 7

The owner of the property who leases it; the lessor

Question 8

Lease

Answer 8

A written contract between the property owner (lessor) and a tenant (lessee) where the possession of land and/ or building(s) is granted by the owner to the tenant, usually for a specific time period.

Question 9

Lessor

Answer 9

A landlord

Question 10

Lessee

Answer 10

A tenant

Question 11

Mobile home park

Answer 11

A parcel of land with four or more rental spaces for manufactured or mobile homes

Question 12

Reversionary right

Answer 12

A right held by a property owner to re-enter and regain possession of leased property at the termination of a lease

Question 13

Security deposit

Answer 13

Money a tenant gives a landlord at the beginning of tenancy to ensure that the tenant will comply with the terms of the lease. The landlord may retain all or part of the deposit to cover unpaid rent, repair costs, or other damage at the tenancy’s end.

Question 14

Tenant

Answer 14

The person who has the right of possession under a lease. Also, called: lessee

Question 15

Writ of restitution

Answer 15

A court order that may be filed if a tenant remains in a property for more than five days after a judgment for eviction is signed, giving law enforcement (generally a sheriff) the power to remove the tenant.

Question 16

Contract rent

Answer 16

What a tenant is actually paying in rent, as stated in the terms of the lease and maintained on the rent roll.

Question 17

Deficit rent

Answer 17

Resulting difference when the economic rent exceeds the contract rent, to the disadvantage of the lesser advantage of the Lessee

Question 18

Economic rent

Answer 18

What the property could rent for in the open market is currently vacant and available

Question 19

Excess rent

Answer 19

Resulting difference when the contract rent exceeds the economic rent, to the advantage of the lessor and the disadvantage of the Lessee

Question 20

Property management

Answer 20

Leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to an employment contract

Question 21

Property management agreement

Answer 21

A written agreement that governs the relationship between the property owner/investor and the property manager, and outlines of duties of the property manager

Question 22

Property manager

Answer 22

A person hired by a real property owner to administer, market, and maintain property, especially rental property

Question 23

Air Lot

Answer 23

A condominium owners fee simple absolute interest in the interior space of the individual condo unit

Question 24

Condominium

Answer 24

A property developed for Co-ownership, with each co-owner having a separate interest in an individual unit, combined with an undivided interest in the common areas of the property and air space consisting of the area between the walls, floor, and ceiling.

Question 25

Cooperative

Answer 25

A type of property ownership under which residents have the right to occupy a unit by purchasing stock shares of the corporation that owns the property

Question 26

Declaration

Answer 26

A document that must be filed in the public record one property has developed as, or converted to, a condominium

Question 27

Proprietary lease

Answer 27

An exclusive, longer-term lease given to a person who lives in and owns stock in a cooperative

Question 28

Rescission

Answer 28

Do you Norman of a contract by mutual consent of the parties. Verb form: to rescind

Question 29

Timeshare

Answer 29

The ownership of a single unit by multiple persons were fixed or float in increments of time over the course of a year. Also called: interval ownership

Question 30

Townhouse

Answer 30

Property developed for coownership for each co-owner has a separate fee simple interest in an individual unit including its roof, the basement and the ground directly beneath the unit – plus undivided interest in the common areas of the property. Also called: townhome.

Question 31

Breach

Answer 31

An unexcused failure to perform according to the terms of a contract.