Lease agreements, tenant screening, and landlord obligations tested on property management certification and licensing exams.
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- What is a lease agreement?
- A legally binding contract between a landlord and tenant that specifies the terms of the rental, including duration, rent amount, and responsibilities.
- What are the essential terms that must be in a lease?
- Lease start and end dates, monthly rent amount, security deposit amount, names of all parties, property address, and house rules.
- What is the purpose of a security deposit?
- To protect the landlord against tenant damage beyond normal wear and tear and to cover unpaid rent or utilities.
- How many days must a landlord return a security deposit after move-out?
- 30 to 45 days, depending on state law; the landlord must also provide an itemized list of any deductions.
- What does the Fair Housing Act prohibit?
- Discrimination in housing based on race, color, religion, sex, national origin, familial status, or disability.
- What is the purpose of tenant screening?
- To evaluate a prospective tenant's creditworthiness, rental history, and reliability to minimize risk of non-payment or property damage.
- What information should a credit check reveal during tenant screening?
- Credit score, payment history, outstanding debts, collections accounts, and bankruptcy filings.
- What should a background check include when screening tenants?
- Criminal history, eviction records, and civil judgments related to property or violence.
- What is the purpose of reference checks during tenant screening?
- To verify the tenant's rental history, timeliness of rent payment, and reliability from previous landlords.
- What does income verification in tenant screening typically verify?
- That the tenant's monthly income is sufficient, usually at least three times the monthly rent.
- When may a landlord legally enter a rental property?
- To make repairs, show the property, inspect for damage, or handle emergencies; tenants must receive notice except in true emergencies.
- How much notice must a landlord give before entering a rental property?
- Usually 24 to 48 hours, depending on state law, and for non-emergency reasons only.
- What are a landlord's maintenance responsibilities?
- Keeping the property in habitable condition, including structural integrity, utilities, heating, plumbing, roof repairs, and pest control.
- What is the federal Lead-Based Paint Disclosure requirement?
- Landlords must disclose known lead hazards in properties built before 1978 and provide tenants with an EPA pamphlet.
- What is habitability in the context of rental properties?
- A property that is safe, sanitary, and functional with adequate heat, water, plumbing, and protection from the elements.