Chapter 7 Flashcards
Albert is a property manager.
A. He is required to have a Texas real estate license if he manages for other people.
B. He is not required to have a license if he is an on-site manager for one owner.
C. He would not be required to be licensed if he were managing only for himself.
D. All of the above
D. All of the above.
TRELA does not require a person who sells, buys, or manages his own property to have a real estate license. An on-site manager of an apartment complex does not have to have a license.
The TAR Residential Leasing and Property Management Agreement is written by: A. The Texas Association of REALTORS® B. Texas Real Estate Commission C. Broker-Lawyer Committee D. Albert and Ray
A. The Texas Association of REALTORS®.
TREC does not have any employment agreements. The leasing and property management agreement is an employment agreement.
There are many landlord-tenant laws. They include: A. Repairs B. Smoke detectors C. Landlord lien for rent D. All of the above
D. All of the above.
Landlord-tenant laws include repairs, smoke detectors, and landlord lien for rent. Other landlord-tenant laws include laws relating to security deposit, security devices, and family violence.
Is the property manager required to disclose the name and address of the owner?
A. Yes
B. No
C. Ray did not sign the property management agreement, so he does not have to disclose.
D. Only after the tenant has lived in the property for 30 days.
A. Yes.
The property manager must always disclose the name and address of the owner to the tenant.
Can the broker sign the lease for the landlord?
A. Yes, if they have a written property management agreement.
B. Yes, if the owner has given the manager a power of attorney.
C. No
D. Both A and B
D. Both A and B.
The broker can sign if they have a written property management agreement or if the owner has given the manager a power of attorney.
Albert has a designation issued by IREM. This designation is:
A. NAA
B. CAM
C. CPM
D. CAPS
C. CPM.
The acronyms stand for NAA—National Apartment Association; CAM—Certified Apartment Manager; CPM—Certified Property Manager; CAPS—Certified Apartment Property Supervisor; and IREM—Institute of Real Estate Management
The Authority of Broker in the Residential Leasing and Property Management Agreement is found in paragraph:
A. 11
B. 7
C. 4
D. 9
C. 4. Paragraph 11 is Broker’s Fees, Paragraph 7 is Advances, and Paragraph 9 is Owner’s Cooperation.
The TAR Residential Lease is a gross lease. This means:
A. The rent will be a fixed amount and will stay the same each month for the entire length of the lease.
B. The tenant will pay a small amount of rent each month and will also pay the taxes on the property.
C. The tenant will pay a fixed amount each month and will also give a percentage of their income to the landlord.
D. The lease includes subsurface rights and will be for 100 years.
A. The rent will be a fixed amount and will stay the same each month for the entire length of the lease.
B would be a net lease;
C would be a percentage lease;
D would be a ground lease.
A lease may be terminated by:
A. Constructive eviction
B. Judicial eviction
C. Expiration
D. All of the above
D. All of the above.
A lease may be terminated by constructive eviction, judicial eviction, or expiration. A constructive eviction is used by the tenant to break a lease when the property has become uninhabitable.
The Statute of Frauds is a law that requires some documents, including deeds, be in writing and signed in order to be enforceable in a court of law.
A. True
B. False
A. True
Which of the following is included as a minimum requirement for a valid lease?
A. Term - a commencement date must be fixed and the duration should be noted.
B. Written – all legal leases are required to be in writing.
C. Parties and capacity – the parties need to be clearly identified and have the legal capacity to contract.
D. All of the above
D. All of the above.
In addition, the leased premises must be ascertainable with certainty; the rent payable must be expressed with certainty; and registration.
A landlord has no obligation to repair the condition if the condition was caused by the tenant or the tenant’s guests.
A. True
B. False
A. True.
Otherwise, the landlord must make repairs if the rent is not delinquent and the condition affects the health or safety of the tenant.
What should you do first before subletting?
A. Do a credit check and ask for references from a prospective sub letter.
B. Draft a lease agreement with your tenant.
C. Review your lease to determine if you’re allowed to sublet your apartment.
D. Ask your landlord in writing if you can sublet your apartment.
C. Review your lease to determine if you’re allowed to sublet your apartment. This is your first step before you even consider subletting.
Which is the most common method of terminating a lease?
A. Mutual agreement between the landlord and tenant
B. Expiration
C. Eminent domain if the government is expropriating the landlord’s property
D. Constructive eviction when the property has become uninhabitable
B. Expiration. This means the lease has come to the end of its term.
A leasehold estate is the ownership of a temporary right to hold and use land under a rental contract.
A. True
B. False
A. True.
A leasehold estate is an estate or interest in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time.
