Principles II Real Estate - Lease Mini Flashcard

Front

Which two parties are involved in a residential tenancy?

Back

landlord and tenant

Front

With reasonable modifications, the landlord may permit changes on the condition that a tenant: agrees to restore the property to its original condition when they move.

Back

agrees to restore the property to its original condition when they move

Front

Leases must be in writing if they are

Back

over a year

Front

Which is the termination of a lease in circumstances where the landlord intentionally failed to provide required repairs or maintenance to such a degree that the premises are considered unusable?

Back

constructive eviction

Front

An REO property is a:

Back

bank-owned property that has been through the foreclosure process

Front

A property manager is called by a resident complaining their AC unit has stopped working. What type of property maintenance is this an example of?

Back

corrective maintenance

Front

A tenant has recently signed a lease for a new commercial property. According to the lease terms, the tenant pays monthly rent, and the landlord covers maintenance and all other property expenses. This lease is a:

Back

Gross Lease

Front

Molly asks permission to install a doggy door for her service dog in her apartment. The landlord agrees but requests that Molly remove the doggy door before she moves out.

Back

It is reasonable and lawful for the landlord to make this request.

Front

What is the covenant of quiet enjoyment?

Back

the right of a tenant to the possession and quiet enjoyment of their property without disturbance from their landlord

Front

To find the net operating income, a property manager will:

Back

subtract the operating expenses from the effective gross income