SU # 67__Leaseholds and Leases Flashcards
Which of the following is not an owner’s responsibility?
Fair housing law compliance
Common area maintenance
Paying for in-unit modifications to accommodate a tenant’s handicap
Providing heat and hot water
Paying for in-unit modifications to accommodate a tenant’s handicap
The lease clause that states specific times during which the landlord is allowed to enter the premises is called:
Assignment
Entry
Allowable entry
Arbitration
Entry
Which of the following is true regarding a sublet?
The sublessee cannot pay less rent than the lessee
The tenant may sublet the premises with or without the landlord’s permission
The tenant is released from all lease liability
The tenant remains liable for lease payments until expiration of the lease
The tenant remains liable for lease payments until expiration of the lease
If a tenant elects to vacate an apartment prior to lease termination, he or she:
Must pay a re-letting charge to gain a release of lease liability
May cancel the lease if the tenant has occupied the premises for 6 or more months
Is entitled to a full deposit refund upon payment of the re-letting fee
Remains liable for the entire lease obligation, regardless of the re-letting fee
Remains liable for the entire lease obligation, regardless of the re-letting fee
Which must be true for a lease to be valid?
The lessee cannot mortgage the lease.
The lessor must have a reversionary interest.
The lessee must have a reversionary interest.
The lease must have a definite ending date.
The lessor must have a reversionary interest.
A holdover clause applies to what situation?
The period of time prior to the tenant occupying the property but after the tenant signs the lease
The period of time the tenant remains in the property after the lease has terminated
The period of time the tenant is entitled to remain in the property
The period of time after the tenant applies for a tenancy but before he is accepted
The period of time the tenant remains in the property after the lease has terminated
An 8-month lease agreement was signed by the lessor and the lessee. What type of lease was this?
Tenancy at will.
Periodic tenancy.
Estate for years.
Life estate.
Estate for years.
Joe Schmoe rented a house from Mr. Smith, but now has stayed beyond his lease without Mr. Smith’s consent. This is known as:
Tenancy for years.
Estate at will.
Estate at sufferance.
Periodic tenancy.
Estate at sufferance.
In a lease with a percentage rent clause, on what item is the tenant paying a percentage?
Taxes
Insurance
Maintenance
Sales
Sales
