Illinois leasing agent chapter 6 Exam With Complete Solutions

Illinois leasing agent chapter 6 Exam With Complete Solutions Security Deposit - answerAny money a landlord takes from a tenant, other than advance payment of rent, to protect the landlord if the tenant breaks or violates the terms of the lease. Lease Application - answerThe key screening document that landlords give to prospective tenants. It covers a wide range of information, including the applicant's employment, income, and credit, rental history, references from landlords, employers, and others, identifying information, such as Social Security and drivers' license numbers, past evictions, criminal convictions, bankruptcies, and more. Preventing Bedbug Infestations in Apartments - answerOne of the disclosures required by Illinois law to attached to the Lease Agreement Exclusive right to lease - answerA listing contract under which the owners appoints a sponsoring broker as his exclusive agent for a designated period. The owner agrees to pay a commission when the property is leased, whether by the sponsoring broker, the owner, or another broker. Exclusive Agency Right to Lease - answerA listing contract under which the owners appoints a sponsoring broker as his exclusive agent for a designated period. The owner reserves the right to lease without paying a commission if he leases to a prospect that has not been introduced or claimed by the broker. ___F. Non-exclusive Right to Lease - answerA listing contract under which the sponsoring broker's commission is contingent upon producing a ready, willing, and able renter before the property is rented by the seller or another broker. The application should include permission to verify rental history but cannot include permission to check credit history, court records and criminal records. T F - answerFalse Each adult occupant (over the age of 18) can be required to have a separate credit/criminal background check run for them. T F - answerTrue