Landlords Study guides, Revision notes & Summaries

CONTENTS OF A LEASE 4 RENT Market rent lease (rack rent lease) – typically 35 or 10 years long and will reserve a substantial monthly or quarterly rent Long lease (ground rent least) – usually a minimum of 99 years, will be granted for a premium and will reserve only a nominal rent Tenant may try to reduce the amount of rent it pays, e.g. if the landlord is in breach of its repairing obligation and the tenant has to carry out repairs itself → the landlord may try to stipulate that t...

How does a broker prove they are not culpable if an agent makes a mistake? - Ans️️1. Reasonable supervision was available to agent 2. Broker had nothing to do with the infraction 3. The broker did not ratify the infraction (Did not see it happen without telling them to stop) What are Trade fixtures and how can they be removed? - Ans️️Trade fixture - item of personal property attached to land or building leased by a tenant who uses the item in a trade or business - Can be removed ...

DC Real Estate Exam- Statutory Requirements Governing the Activities of Licensees PART 2 Accurate 100%Landlords in Washington D.C. must obtain a --- to rent out their residential property. - ANSWER housing business license Landlords must obtain a certificate of occupancy and register with the --- - ANSWER Rental Accommodation Division (RAD). Security deposits cannot exceed the cost of ---. Landlords may only charge the tenant once for the security deposit. Landlords must provide the tenant...

Real Estate Broker - a person who is licensed as a broker that peforms brokerage activities and collects compensation. Real Estate Salesperson - a person who peforms real estate activities while associated with a licensed real estate broker. licensee - a person holding a valid real estate license appraiser - a person whos certified to estimate the value of a real property according to standardized principles of valuation. home inspector - A person who's affiliated with a n...

REAL ESTATE 2024 WITH COMPLETE SOLUTIONS Real Estate Broker a person who is licensed as a broker that peforms brokerage activities and collects compensation. Real Estate Salesperson a person who peforms real estate activities while associated with a licensed real estate broker. licensee a person holding a valid real estate license appraiser a person whos certified to estimate the value of a real property according to standardized principles of valuation. home inspector A per...

To whom can a broker offer exclusive agency through the use of the Exclusive Brokerage Listing Addendum to the Exclusive-Right-to-Sell Listing Contract? Buyers Landlords Sellers Sellers and landlords - ANSWER-Sellers and landlords Exclusive agency through the exclusive brokerage addendum can be offered to both sellers and landlords. Nick, an independent broker, is being audited by the Colorado Real Estate Commission. Which of these would NOT be part of the transaction files he provid...

Who works on behalf of landlords and property management companies to collect rent and provide customer service for renters and tenants? A leasing consultant An arbitrator A broker An escrow agent - Answer- A leasing consultant What are two types of breach of contract damages? Punitive damages and non-punitive damages Conveyance damages and actual damages Damages by design and fraud damages Loss of bargain damages and special damages - Answer- Loss of bargain damages and special damag...

RIBO Exam (Ch 1-4) Latest 2023 Graded A Insured A person or entity who purchases an insurance policy. 1st party Insurer The insurance company who issues an insurance policy. 2nd party Lessor a person or entity that grants a lease (bank) Lessee A person who purchases the lease Mortgagee A person or entity that provides a loan (bank) Mortgagor A person who borrows money Chinese Shippers -Around 2000 BCE -First group to demonstrate "risk mitigation" -They used to separate boats for each goo...

REAL ESTATE 2024 QUESTIONS AND ANSWERS Real Estate Broker - Answer- a person who is licensed as a broker that peforms brokerage activities and collects compensation. Real Estate Salesperson - Answer- a person who peforms real estate activities while associated with a licensed real estate broker. licensee - Answer- a person holding a valid real estate license appraiser - Answer- a person whos certified to estimate the value of a real property according to standardized principles of valuati...

Leasing Exam - Unit 14 Exam Questions and Answers (Graded A)Leasing Exam - Unit 14 Exam Questions and Answers (Graded A)Leasing Exam - Unit 14 Exam Questions and Answers (Graded A)Leasing Exam - Unit 14 Exam Questions and Answers (Graded A)Leasing Exam - Unit 14 Exam Questions and Answers (Graded A) The Illinois Real Estate License Act allows landlords to pay a referral fee to tenants who refer a prospective tenant for a unit in the same building or complex - ANSWER-True The Illinois Real Es...