Lease Agreements Quiz Attempt #4

Lease Agreements Quiz Attempt #4

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*Federal Laws Affecting Property Management*

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Question 1 of 10

1. Question
Who holds a leasehold interest in a property?
- the tenant
- the owner
- the realtor
- the property manager
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Question 2 of 10

2. Question
When should a landlord first present the rules and regulations for tenants of leased property?
- in the rental agreement- prior to signing
- only when requested by the tenant
- only when a problem arises for the landlord
- only when the landlord believes that the tenant is breaking a rule
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Question 3 of 10

3. Question
Who most likely owns a limited liability company?
- Xander was appointed CEO by a board of directors
- Casey and Matthew got together to invest in real estate
- Liam, Wendy, and Mischa start a company that allows multiple owners, receives favorable income tax treatment and has low administrative requirements
- Thomas starts a nonprofit organization whose primary objectives are philanthropy and social well-being.
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Question 4 of 10

4. Question
In regards to the sale of a 20-unit building by an owner, which statement is true?
- 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 5 of 10

5. Question
Which would not usually 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
Charlene plans to move out of her current apartment after her current lease expires in two weeks. In order to terminate her current agreement, Charlene must:
- Provide their landlord with two week's notice or the lease will automatically renew
- Sign a lease for a new, different apartment, which will automatically terminate the existing lease
- Do nothing, the agreement will terminate automatically at the end of the current term
- Sign a termination of lease form
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Question 7 of 10

7. Question
Six months into Austin’s lease, the air conditioning unit breaks down in his apartment due to regular wear and tear. Who is responsible for the repair?
- The landlord because their job is to take care of major repairs and maintain the property
- The renter's insurance company
- Austin because he is the tenant responsible for 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
Abe rents a store building, but has to move out because the building is unsafe as a result of his landlord’s negligence. Which of the following could happen now?
- Abe would be entitled to recover damages from his landlord
- Abe's landlord would be liable for the rent until the expiration date of the lease
- Abe would have no legal recourse against his landlord
- Abe's landlord would have to provide a substitute space
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Question 9 of 10

9. Question
A contract that conveys the right to possess the real property of another, but does not convey the title is a ________.
- dedication
- quitclaim deed
- lease
- none of the above
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Question 10 of 10

10. Question
In which case would a tenant NOT be able to recover damages from their landlord?
- the tenant had to move out because the building was unsafe as a result of the landlord's negligence.
- the tenant moved out of a rented store building because access to the building was blocked as a result of the landlord's negligence
- the tenant is unhappy with the location of their rented property.
- none of the above
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