Lease Agreements Quiz Attempt #3

Lease Agreements Quiz Attempt #3

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*Lease Agreements Quiz #4*
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*Federal Laws Affecting Property Management*

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Question 1 of 10

1. Question
TRUE/FALSE: An easement is what the tenant holds when he/she is renting property from the owner.
- True
- False
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Question 2 of 10

2. Question
A business entity managed and operated by its board of directors, who are selected by the owners of the corporation is a:
- limited liability company
- charity
- corporation
- syndicate
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Question 3 of 10

3. Question
Which statement would be true regarding the sale for an owner who sold a 20-unit building?
- The tenants will get a month of free rent.
- The existing lease agreements must be honored by the new owner.
- The seller would keep all of the security deposits.
- The new owner can immediately raise the rent.
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Question 4 of 10

4. Question
This clause explains the time, place, manner, and amount of rent payment. It also defines if grace period is allowed.
- Rent and security deposit
- Rules and regulations
- Lease term
- Quiet enjoyment
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Question 5 of 10

5. Question
Which is not likely to terminate a lease?
- constructive or actual eviction.
- condemnation of the property.
- death of the lessor.
- nonpayment of rent.
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Question 6 of 10

6. Question
Which of the following is not a characteristic of a valid lease agreement?
- The objective of the lease must be legal
- A lease extending over one year must be in writing to be enforceable
- The tenant must sign the lease to convey the leasehold interest. A landlord does not have to sign.
- The lease must identify the property by legal description
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Question 7 of 10

7. Question
Austin’s air conditioning unit breaks down in his apartment due to regular wear and tear. Who should be responsible for the repairs?
- Austin because he is the tenant responsible for the property
- The renter's insurance company
- The landlord because their job is to take care of major repairs and maintain the property
- The real estate agent because they sold the property to Austin knowing this could have happened
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Question 8 of 10

8. Question
Which of the following could happen if a tenant had to move out of a rented store building because the building was unsafe as a result of the landlord’s negligence?
- landlord would be liable for the rent until the expiration date of the lease
- landlord would have to provide a substitute space
- tenant would be entitled to recover damages from the landlord
- tenant would have no legal recourse against the landlord
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Question 9 of 10

9. Question
In order to successfully terminate the agreement, what should a tenant do if their lease is about to expire?
- Nothing, the agreement will terminate automatically at the end of the current term
- Sign a termination of lease form
- Sign a lease for a new, different apartment, which will automatically terminate the existing lease
- Provide their landlord with two week's notice or the lease will automatically renew
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Question 10 of 10

10. Question
A ________ is a contract that conveys the right to the possess the real property of another; however, it does not convey title.
- quitclaim deed
- dedication
- bill of sale
- lease
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