Real Estate Quiz

What is a tenant?

• A person who owns a property

• A person who manages a property

• A person who pays rent to live in a property

• A person who sells property

What is a landlord responsible for?

• Cleaning the property

• Ensuring the property is fit to live in and repairing major issues like furnaces or air conditioners

• Paying the tenant’s utility bills

• Handling minor repairs in the property

What is rent?

• Money paid by the landlord to the tenant

• The monthly payment made by the tenant to the landlord for living in the property

• A payment made at the end of the lease term

• A deposit paid before moving in

What is a security deposit?

• A fee paid for insurance

• Money paid by the tenant to cover any damages or unpaid rent

• Rent for the first month

• A down payment to purchase the property

What happens if a tenant damages the property?

• The tenant is responsible for paying for the damages

• The landlord must pay for all damages

• The tenant can deduct the cost of repairs from their rent

• The damage will be covered by insurance

What is the term of a lease?

• The amount of rent paid

• The time period agreed upon for the tenant to live in the property and pay rent

• The length of time the landlord has to repair the property

• The time allowed for the tenant to make a security deposit

Can the lease be negotiated?

• No, leases cannot be changed once signed

• Yes, but only for the rent amount

• Yes, many terms in the lease, including the rent and length, can be negotiated if both parties agree

• Yes, but only by the landlord

What are the tenant’s main responsibilities?

• Pay rent and keep the property in good condition

• Only pay the rent

• Repair all major issues in the property

• Pay utilities and clean the building

How should a tenant communicate with a landlord or property manager?

• By phone only

• In writing whenever possible, such as through email

• By text message

• No communication is needed after signing the lease

What is the proper procedure for paying rent in cash?

• Pay directly to the landlord and keep the transaction private

• Always get a receipt as proof of payment

• No receipt is needed, but record it in your own notes

• Pay by cash app instead