SC Property Management Exam Update
2024 Questions and Correct Answers
Rated A+
Residential Landlord and Tenant Act - ANSWER-Created in 1986
Residential Landlord and Tenant Act - Purpose - ANSWER-Simplify,
clarify, modernize, and revise the law governing rental of dwelling
units and the rights, obligations of landlords and tenants. To
encourage landlords and tenants to maintain and improve the quality
of housing.
Administration Remedy - ANSWER-Any right or obligation declared is
enforceable by action unless the provision declaring it specifies a
different and limited effect.
Settlement of disputed claim or right - ANSWER-A claim or right
arising on a rental agreement, if disputed in good faith, may be settled
by agreement.
Action - ANSWER-Include recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined,
including an action for possession.
Building and Housing Codes - Enforcement - ANSWER-Any law,
ordinance, or governmental regulation concerning fitness for
habitation, or the construction, maintenance, operation, occupancy,
use, or appearance of any premise or dwelling unit.
Dwelling Unit - ANSWER-A structure or the part of a structure that is
used as a home, residence, or sleeping place by one person who
maintains a household or by two or more persons who maintain a
common household and includes landlord-owned mobile homes.
Property that is leased for the exclusive purpose of being renovated
, by the lessee (tenant) is not considered a dwelling unit within the
meaning. Lessor (owner)
Fair-Market Rental Value - Collusion - ANSWER-The actual periodic
rental payment for comparable rental property to which a willing
landlord and a willing tenant would agree. In determining the fair-
market rental value the court may consider appraisals offer by the
tenant, landlord, realty experts, licensed appraisers and other relevant
evidence.
Good Faith - ANSWER-Honesty in fact in the conduct of the
transaction concerned
Landlord - ANSWER-The owner, lessor, or sublessor of the premises
and also means manager of the premises who fails to disclose
Organization - ANSWER-Includes a corporation, government,
governmental subdivision or agency, business trust, estate, trust,
partnership or association, two or more persons having a joint or
common interest, and any other legal or commercial entity
Owner - ANSWER-Means one or more persons, jointly or severally, in
whom is vested in all or part of the legal title to property or all or part of
the beneficial ownership and a right to present use and enjoyment of
the premises. The term includes a mortgagee (lender) in possession.
Mortgagee - ANSWER-A lender in a mortgage loan transaction.
Mortgager - ANSWER-an owner who gives a security interest in
property in order to obtain a loan
Person - ANSWER-Includes an individual or organization
Premises - Property "Appliances" - ANSWER-Means a dwelling unit
and the structure of which it is a part and facilities and appurtenances
therein and grounds, areas, facilities held out for the use of tenants
generally or whose use is promised to the tenant.
2024 Questions and Correct Answers
Rated A+
Residential Landlord and Tenant Act - ANSWER-Created in 1986
Residential Landlord and Tenant Act - Purpose - ANSWER-Simplify,
clarify, modernize, and revise the law governing rental of dwelling
units and the rights, obligations of landlords and tenants. To
encourage landlords and tenants to maintain and improve the quality
of housing.
Administration Remedy - ANSWER-Any right or obligation declared is
enforceable by action unless the provision declaring it specifies a
different and limited effect.
Settlement of disputed claim or right - ANSWER-A claim or right
arising on a rental agreement, if disputed in good faith, may be settled
by agreement.
Action - ANSWER-Include recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined,
including an action for possession.
Building and Housing Codes - Enforcement - ANSWER-Any law,
ordinance, or governmental regulation concerning fitness for
habitation, or the construction, maintenance, operation, occupancy,
use, or appearance of any premise or dwelling unit.
Dwelling Unit - ANSWER-A structure or the part of a structure that is
used as a home, residence, or sleeping place by one person who
maintains a household or by two or more persons who maintain a
common household and includes landlord-owned mobile homes.
Property that is leased for the exclusive purpose of being renovated
, by the lessee (tenant) is not considered a dwelling unit within the
meaning. Lessor (owner)
Fair-Market Rental Value - Collusion - ANSWER-The actual periodic
rental payment for comparable rental property to which a willing
landlord and a willing tenant would agree. In determining the fair-
market rental value the court may consider appraisals offer by the
tenant, landlord, realty experts, licensed appraisers and other relevant
evidence.
Good Faith - ANSWER-Honesty in fact in the conduct of the
transaction concerned
Landlord - ANSWER-The owner, lessor, or sublessor of the premises
and also means manager of the premises who fails to disclose
Organization - ANSWER-Includes a corporation, government,
governmental subdivision or agency, business trust, estate, trust,
partnership or association, two or more persons having a joint or
common interest, and any other legal or commercial entity
Owner - ANSWER-Means one or more persons, jointly or severally, in
whom is vested in all or part of the legal title to property or all or part of
the beneficial ownership and a right to present use and enjoyment of
the premises. The term includes a mortgagee (lender) in possession.
Mortgagee - ANSWER-A lender in a mortgage loan transaction.
Mortgager - ANSWER-an owner who gives a security interest in
property in order to obtain a loan
Person - ANSWER-Includes an individual or organization
Premises - Property "Appliances" - ANSWER-Means a dwelling unit
and the structure of which it is a part and facilities and appurtenances
therein and grounds, areas, facilities held out for the use of tenants
generally or whose use is promised to the tenant.
