TN Real Estate State Test Questions and Answers Already Passed

TN Real Estate State Test Questions and Answers Already Passed What Tennessee law covers landlord-tenant relations? - Answer ️️ -Tennessee has the Uniform Landlord and Tenant Act for residential rentals. This law is designed to simplify, clarify, modernize, and revise the laws governing the rental of dwelling units and the rights and obligations of both landlords and tenants and to encourage them to maintain and improve the quality of housing. In addition, the law ensures that the right to the receipt of rent is inseparable from the duty to maintain the premises. Anyone who manages even one unit should have a copy of this law and consult it frequently. The days have gone by when a landlord or manager could simply change the locks and toss a tenant's belongings into the street. Today, the tenant has enforceable rights, and if the landlord violates these rights, the landlord may be faced with financial penalties. Is there a special license required for brokers to be property managers? - Answer ️️ -There is no license just for property managers in Tennessee, unless they are engaged in rental/leasing management of property of others. If so, they come under the Tennessee Real Estate Broker License Act of 1973. A resident manager hired by the owner, the broker, or an employee of the broker is exempt only if the duties they perform do not include negotiation of leases or security deposits. Do all leases have to be in writing? - Answer ️️ -To receive legal recognition in the judicial system, the Tennessee Code requires that all lease agreements over one year be in writing. Thus, an oral lease for less than a year is enforceable. However, this is important to remember: If it's in writing, you have a prayer; if it's oral, it's just air. It is best to get any lease in writing. What specific procedures must a landlord follow to evict a tenant? - Answer ️️ -The landlord must send a written notice to the tenant specifying the breach of the agreement and stating that the rental agreement will terminate 30 days from the date of receipt of the notice. If the breach is not remedied in 14 days, the rental agreement terminates in accordance with the notice. What are the requirements for holding a security deposit (i.e., type of account, interest, limits on use, repayment, etc.)? - Answer ️️ -All such deposits must be placed in an account used only for that purpose in any bank or other lending institution subject to regulation by the state of Tennessee or an agency of the U.S. government. The tenant must be informed of the location of the separate account. What courts handle landlord-tenant disputes? - Answer ️️ -General session courts and circuit courts hear landlord-tenant disputes. What is the name of the Tennessee real estate regulatory body? - Answer ️️ -Instead of having a Commissioner to regulate real estate activity, Tennessee has a nine-member body that makes up the Tennessee Real Estate Commission (TREC). It is created within the Division of Regulatory Boards of the Tennessee Department