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):
1

Lessor

This is the owner, landlord.

2

Management agreement

A property managers employment agreement.

3

Net lease

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

4

Percentage lease

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

5

Periodic estate

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

6

Property manager

A person who looks after another as rental real estate.

7

Sublease

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

8

Suit for possession

A landlord's court action to evict a tenant.

9

Summary proceeding

This is another term for disposes proceeding.

10

Tenancy at sufferance

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

11

Tenancy at will

A tendency that may be terminated when landlord wishes.

12

Truth in renting

A state requirements that tenants be notified of their rights.