chapter 15
What is the maximum security deposit a landlord can charge for an unfurnished apartment...?
2 months rent
Which of the following is considered a low vacancy rate...?
5% of total units
Which of the following skills are typically required of a property manager...?
Accounting Sales Repairs and maintenance
A property manager is responsible for which of the following...?
Collect rents Market vacancies Schedule and supervise maintenance and repairs
Which of the following is an example of a leasehold estate...?
Estate for years Periodic tenancy Tenancy at will
The Certified Property Manager designation was developed by the...?
IREM
A transfer of benefits and obligations within a contract to a 3rd party who is not originally a party to the contract is known as a...?
assignment
This type of leasehold estate arising when the tenant wrongfully holds over after the expiration of the term...?
estate at sufferance
Which of the following may lead to the tenant being evicted...?
estate at sufferance
An interest in land by virtue of a contract for the possession of them for a definite and limited period of time is known as a/an...?
estate for years
A lease less than one year must be in writing...? (t/f)
false
Which of the following is a protected class under the fair housing laws...?
familial status
A gross lease is also known as a...?
fixed lease
A lease which provides for a varying rental rate, often based upon future determination, is known as a...?
graduated lease
A resident manager does not need to have a real estate license...? (t/f)
true
A tenancy at will may exist without a lease...? (t/f)
true
An estate from year to year automatically renews...? (t/f)
true
Rent skimming is illegal in California...? (t/f)
true
A lease in which the lessor pays all costs of operating and maintaining the property and real property taxes is known as a...?
gross lease
Which of the following is a contract between landlord and tenant, setting forth conditions upon which tenant may occupy and use the property and the term of the occupancy...?
lease
A tenant's right to occupy real estate during the term of the lease is known as a...?
leashold estate
The tenant is referred to as the...?
lessee
The landlord is referred to as the...?
lessor
A lease requiring a lessee to pay charges against the property such as taxes, insurance and maintenance costs in addition to rental payments is known as a...?
net lease
A lease on property, the rental for which is determined by the amount of business done by the lessee is known as a...?
percentage lease
An estate from year to year is also known as a...?
periodic tendency
A branch of the real estate business involving the marketing, operation, maintenance and day-to-day financing of rental properties is known as...?
property management
A person who manages properties for an owner as the owner's agent, is referred to as a...?
property manager
An individual who supervises the care of an apartment complex while living in one of the units in the complex is known as a...?
resident manager `
This type of leasehold estate can be terminated at any time by either the tenant or the landlord...?
tenancy at will