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24 Cards in this Set
- Front
- Back
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What type of agency is a person authorizing a person to perform specific acts in a listing?
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SPECIAL AGENCY
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A lease that is for years is a lease that must what _________?
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BE RE-NEGOTIATED
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What type of estate does a lessor have?
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LESS THAN FREEHOLD
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A month to month tenancy can also be called a _____________?
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PERIOD TO PERIOD
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What is the meaning of "demise"
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TO RENT
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What is the longest period a property within the city can be leased?
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99 YEARS
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Income from apartments is known as:
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CONTRACT RENT
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If someone wants to assign their entire leasehold property to someone else, what should they use to show they no longer have interest?
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ASSIGNMENT
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How long can a landlord keep the security deposit after a tennant moves out?
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THREE WEEKS
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What type of notice is served first to evict a tenant behind in the rent?
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NOTICE TO PAY OR QUIT
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A tenant must respond to a "notice to pay or quit" within ____ days.
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THREE
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A lease holder possesses what rights to the property?
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1) Use
2) Quiet Possession |
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When there is no written agreement between a landlord and tenant they have what type of estate?
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ESTATE AT WILL
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A estate where a tenant occupies the property without paying rent and with out permission is a ___________.
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ESTATE OF SUFFERANCE
BAD--BAD--BAD |
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Most residential leases are _________ amounts.
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FIXED
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Most commercial leases are ___ leases which are a _____ of the costs and a _____amount in rent.
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1) NET
2) PERCENTAGE 3) FIXED |
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Some commercial leases are on a lease for a ______ of the profit. This is called a _______ lease
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PERCENT
PERCENTAGE |
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Name the basic ingredients of a lease:
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Names of Parties
Description of Property Amount of Rent Duration of Lease Lessor Signature |
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TRUE OR FALSE
Leases must be signed by both parties. |
FALSE
ONLY THE LESSOR MUST SIGN THE LEASE |
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A lease is presumed to be _________ unless otherwise specified.
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MONTH TO MONTH
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How much notice (normally) must be given by either the renter or the landlord to discontinue the rental arrangement?
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30 DAYS
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The maximum deposit on a UN-Furnished rental is ________ the rent.
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TWICE ( TWO MONTHS)
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The maximum deposit on a FURNISHED rental is _______ the rent.
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THREE TIMES ( THREE MONTHS)
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A __________ transfers the lease to a tenant while keeping the original lease with the original tenant.
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SUBLEASE
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