Chapter 12 Review Questions

A tenant signed an apartment lease calling for $1,000 rent per month. According to New Jersey law, the landlord may also require a maximum security deposit of

$1,500

The initials CPM stand for

Certified property manager

Even when there is a lease, if a landlord turns the heat down to 55 degree, the tenant may move out and stop paying rent because of

Constructive eviction

A percentage lease provides for a

Definite monthly rent plus a percentage of the tenant's gross receipts in excess of a certain amount

With a triple net lease, the tenant pays

Everything but the mortgage

A tenant's lease is expired, the tenant has neither vacated nor negotiated a renewal lease and the landlord has declared that she does not want the tenant to remain in the building. The tenancy is called

Tenancy at sufferance

Majory Richter owns a 24-unit apartment building. The building is managed by a professional management company, and a superintendent lives on the premesis. As the landlord, Marjory is responsible for furnishing certain information to each of her tenants. Which of the following is not her responsibility to provide?

The name of the local housing inspector and health officer

A lease, if properly acknowledged, may be recorded if it is for a period of more than

Two years

A property manager may be reimbursed with

a percentage of the rentals

A gross lease is most likely to be used for rental of

an apartment

After a landlord has properly placed a tenant's security deposit in a bank account,

annual interest earned must be credited to the tenant

A tenant who transfers to entire remaining term of his or her lease to a third party is

assigning the lease

Willie James agrees to rent his upstairs apartment to Dana Gibson for the next six months. Dana has a(n)

estate for years

Willie James agrees to rent his upstairs apartment, which is not subject to rent control, to Dana Gibson from month to month. To end the arrangement, Willie must

give at least one month's notice before the day the rent is due

A residential lease must contain notice of the right to attorney review if it

is for a period of one year or more

A ground lease is usually

long term

If a tenant falls three months behind in rent payments, a landlord may

start a court suit for possession

Mary Withers sells her six unit apartment building in Trenton to George Brown. All tenants have leases and have paid security deposits. Now...

Mary must turn over security deposits to George

In New Jersey, rent security deposits

Must be placed in an interest bearing account

Oscar Lopez is selling a house that he currently rents to the Smiths; the Smiths' lease has 16 mo nths to run. Regarding the security deposit paid by the Smiths, Oscar

Must deliver it to the purchaser and notify the tenant

Jane Miller's apartment lease agreement states that it expires on April 30, 2006. When must her landlord give notice that her tenancy is to end?

No notice is required

The prospective tenant is entitled to an attorney's review of a residential lease that runs for as short a term as

One year

A leasehold estate is considered to be

Personal property

In the absence of rent regulations, the amount of rent charged is determined by the

Principle of supply and demand

A lead based paint disclosure statement must be included in the lease for any

Residential building constructed before 1978