Unit 12: Leases: Landlord and Tenant Flashcards
actual eviction
suit for possession; legal removal of tenant
Americans with Disabilities Act (ADA)
assignment
transfer of primary responsibility for a lease to another party
Certified Property Manager (CPM)
constructive eviction
tenant is forced to move because rental unit is uninhabitable
demise
a transfer of property by lease
estate for years
lease for a definite period of time
gross lease
lease under which landlord pays taxes, insurance, and other expenses
ground lease
rental of land on which tenants erect their own buildings
holdover tenancy
situation when tenant remains after lease period has expired
implied warranty of habitability
landlord’s responsibility for decent conditions
lease
a contract btwn landlord and tenant transferring the right to use real property for a specific period of time for rent
lessee
the tenant
lessor
the landlord
management agreement
property manager’s employment agreement
net lease
lease in which tenant pays expenses like property taxes, insurance, and so forth
percentage lease
lease in which landlord shares in gross receipts of tenant’s business
periodic estate
lease with regular payments and no stated ending due date
property manager
person who looks after another’s rental real estate
sublease
a transfer of only a portion of the lease
suit for possession
landlord’s court action to evict tenant lease
summary proceeding
tenancy at sufferance
tenants remaining after lease term without land lord’s consent
tenancy at will
tenancy that may be terminated when landlord/tenant wishes
Truth-in-Renting
state requirements that tenants be notified of their rights
