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47 Cards in this Set

  • Front
  • Back
An __-site property manager must be a
licensed real estate broker, but __-site residential managers do not need a real estate license.
off; on
A leasehold where a lessee retains possession of the property after the expiration of a lease, its called _________________.
estate at sufferance
A lessee’s estate for years is converted to an estate at sufferance until a decision is made about the future rights of the lessee. The landlord can enter into another lease agreement or ask the lessee to __.
leave
After a period of time, an estate at
sufferance may be considered a periodic (month-to-month) __. (this is the estate where they won't leave and can be evicted)
tenancy
Estate (tenancy) at will: A leasehold that can be terminated without notice at any time by the lessor or the lessee. Usually when an owner loses the property after a __, causing the previous lease to be invalid.

"...at will" = staying after being foreclosed on
"...at sufferance" = staying after the lease ends
foreclosure
Estate for years (tenancy for a __ term): A leasehold that continues for a fixed time span. The term estate for years is __ because the fixed time span can be for a day, a week, a month, a year, or years.
fixed; misleading
Estate from period to period (periodic tenancy): A(n) __ that continues from period to period (day, week,month, or year). A month-to-month lease is an example.
leasehold
Gross lease: The tenant pays a flat rental amount, and the landlord
is responsible for taxes,maintenance, and __.
insurance
Under a lease with option to buy, property is rented for a period of time, at the end of which the lessee is given the right to purchase per a set of agreed terms. Owner must __ if renter wants to buy.
sell
Under a first right of refusal,
the lessor (landlord) is not required to sell. However, if the lessor
does wish to sell, the lessee (tenant) is given the first __
to buy.
chance
Triple net lease (or 'net lease'): The tenant pays rent; the tenant also pays the landlord’s property taxes, hazard insurance, and maintenance (a helpful acronym is __).
TIM
Percentage lease: Rent is based on a percentage of the tenant’s
gross sales—this type of lease often uses a combination flat rent
plus a certain percentage of any revenue earned while doing business on the rental premises. Usually, the higher the tenant’s gross sales, the smaller the percentage; and the lower the tenant’s sales volume, the __ the percentage.
higher
A sublease transfers only a part of the term of the lessee to a
sublessee. The original lessee is still __ to the lessor (landlord)
for the terms and conditions of the lease.
liable
An 'assignment of a lease' transfers the entire leasehold interest to another party, including the prime responsibility to make __ to the lessor (landlord).
payments
When subletting, lessee is said to hold a sandwich lease. In other words, Lessee is wedged between the lessor and the __.
sublessee
Security deposit: Within __ days, refund the security deposit, less damages __ normal wear and tear.
21; beyond
Mobile home tenant in a park cannot be evicted unless: illegal, annoying, disobeys rules, park changes, condemned by __.
government
If a landlord commits an illegal act (change locks, turn off water) to evict, the tenant can sue the landlord for '__ eviction'.
constructive
Unlawful Detainer Action, 1 of 4:
Landlord serves the tenant with a three-day notice (didn't pay rent or broke lease) or 30-day notice (__wants them out).
landlord
Unlawful Detainer Action, 2 of 4:
If the tenant fails to abide by the 3 or 30 day notice, the landlord files an unlawful detainer action in __ court.
superior
Unlawful Detainer Action, 3 of 4:
If the landlord wins, the court awards the landlord a judgment. The landlord then asks for a writ of __ authorizing the sheriff to evict the tenant.
possession
Unlawful Detainer Action, 4 of 4:
The sheriff sends the tenant an eviction notice; if the tenant fails to leave, the sheriff physically __ the tenant.
removes
Serving notice: must be in person, or given to someone 18 and over living there, or pinned to the door. Slipping it under the door or in mailbox is not __.
enough
Landlords bring unlawful detainer actions in superior court. You should have an attorney in case they __.
appeal
After a writ of possession has been granted to the landlord, the sheriff sends the tenant an eviction notice. 5 days later, they __ remove them.
forcibly
From a pure cost point of view, sometimes it is cheaper to pay the tenant to move, rather than bear the __ of an unlawful detainer action.
cost
A lessee is given __ in exchange for rent.
possession
Leases on urban property cannot exceed __ years, whereas leases for agricultural land cannot exceed __ years.
99; 51
A(n) __ clause allows the landlord to raise the rent during the term of the lease.
escalator
Landlord’s duties and rights include: an implied condition of habitability, advance notice prior to __, 30 or 60-day advance notice when ordering the tenant to vacate, and an obligation not to __ when renting property.
inspection; discriminate
Sometimes, a tenant can use a rent
offset for repairs if the property falls below __ housing standards, up to one month's rent.
habitable
Leases can be terminated by expiration of time, mutual __, destruction of the premises, government action, and __ of terms and conditions.
consent; breach
An assignment of a lease transfers liability to the new __.
occupant
On a residential rental, a security deposit cannot exceed more than
__ months’ rent on unfurnished dwellings or __ months’ rent on a furnished unit.
2; 3
A landlord who is using uniform application must accept __.
children
Valid Leases, 1/8: Longer than one year must be in __.
writing
Valid Leases, 2/8:
Contain the names of the lessor and __.
lessee
Valid Leases, 3/8:
Contain a sufficient description of the property. In some cases, a street __ is sufficient.
address
Valid Leases, 4/8:
Show the amount of rent and the manner of __.
payment
Valid Leases, 5/8:
State the duration or time __ the lease is to run.
period
Valid Leases, 6/8:
Be signed by the lessor. Technically a lessee does not need to sign
the lease to make it valid.The lessee’s __ of the property is considered to be acceptance of the agreement.
possession
Valid Leases, 7/8:
Have a lessor and a lessee who are legally able to __.
contract
Valid Leases, 8/8:
Have any renewal or extension provisions in __ type.
boldface
The interest a tenant has in real estate is known as ______ estate.
less than freehold
No security deposit can be labeled ___.
non refundable
The mobile home tenant who is in violation must be given at least a __-day notice.
60
An apartment building or complex with __ or more rental units must have an on-site residential manager
16