Chapter 12; Leases, Landlord And Tenant. Key Terms Part 2 Flashcards Preview

Real estate license study > Chapter 12; Leases, Landlord And Tenant. Key Terms Part 2 > Flashcards

Flashcards in Chapter 12; Leases, Landlord And Tenant. Key Terms Part 2 Deck (12)
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1
Q

Lessor

A

This is the owner, landlord.

2
Q

Management agreement

A

A property managers employment agreement.

3
Q

Net lease

A

A lease in which tenant pays expenses like property taxes, insurance, and so forth.

4
Q

Percentage lease

A

A lease in which landlord shares and gross receipts of a tenants business.

5
Q

Periodic estate

A

A lease with regular rent payments and no stated ending date.

6
Q

Property manager

A

A person who looks after another as rental real estate.

7
Q

Sublease

A

An agreement giving tendency to another, original tenant still responsible and liable.

8
Q

Suit for possession

A

A landlord’s court action to evict a tenant.

9
Q

Summary proceeding

A

This is another term for disposes proceeding.

10
Q

Tenancy at sufferance

A

Tenants remain after lease term without landlords consent. Usually the landlord cannot get paid do two tenants hardship/squatters.

11
Q

Tenancy at will

A

A tendency that may be terminated when landlord wishes.

12
Q

Truth in renting

A

A state requirements that tenants be notified of their rights.

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