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24 Cards in this Set

  • Front
  • Back
What type of agency is a person authorizing a person to perform specific acts in a listing?
SPECIAL AGENCY
A lease that is for years is a lease that must what _________?
BE RE-NEGOTIATED
What type of estate does a lessor have?
LESS THAN FREEHOLD
A month to month tenancy can also be called a _____________?
PERIOD TO PERIOD
What is the meaning of "demise"
TO RENT
What is the longest period a property within the city can be leased?
99 YEARS
Income from apartments is known as:
CONTRACT RENT
If someone wants to assign their entire leasehold property to someone else, what should they use to show they no longer have interest?
ASSIGNMENT
How long can a landlord keep the security deposit after a tennant moves out?
THREE WEEKS
What type of notice is served first to evict a tenant behind in the rent?
NOTICE TO PAY OR QUIT
A tenant must respond to a "notice to pay or quit" within ____ days.
THREE
A lease holder possesses what rights to the property?
1) Use
2) Quiet Possession
When there is no written agreement between a landlord and tenant they have what type of estate?
ESTATE AT WILL
A estate where a tenant occupies the property without paying rent and with out permission is a ___________.
ESTATE OF SUFFERANCE

BAD--BAD--BAD
Most residential leases are _________ amounts.
FIXED
Most commercial leases are ___ leases which are a _____ of the costs and a _____amount in rent.
1) NET
2) PERCENTAGE
3) FIXED
Some commercial leases are on a lease for a ______ of the profit. This is called a _______ lease
PERCENT
PERCENTAGE
Name the basic ingredients of a lease:
Names of Parties
Description of Property
Amount of Rent
Duration of Lease
Lessor Signature
TRUE OR FALSE


Leases must be signed by both parties.
FALSE

ONLY THE LESSOR MUST SIGN THE LEASE
A lease is presumed to be _________ unless otherwise specified.
MONTH TO MONTH
How much notice (normally) must be given by either the renter or the landlord to discontinue the rental arrangement?
30 DAYS
The maximum deposit on a UN-Furnished rental is ________ the rent.
TWICE ( TWO MONTHS)
The maximum deposit on a FURNISHED rental is _______ the rent.
THREE TIMES ( THREE MONTHS)
A __________ transfers the lease to a tenant while keeping the original lease with the original tenant.
SUBLEASE