Landlord Tenant Act, Prop Mgmt, Plan Com and HOA's 19 Flashcards Preview

AZ Real Estate Agent License 2020 > Landlord Tenant Act, Prop Mgmt, Plan Com and HOA's 19 > Flashcards

Flashcards in Landlord Tenant Act, Prop Mgmt, Plan Com and HOA's 19 Deck (39)
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1

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property for Others and For a Fee.

Property Management -

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property for Others and For a Fee

Chap 19

2

AZ Residential - Landlord and Tenant Act

  1. Applies to Rental Dwelling Units.
  • DOES NOT apply to:
  1. C____ Prop____
  2. H____ and M_____
  3. Religious Ser___ H_____
  4. School D_______
  5. P___ H_______ (Bars)
  1. Vacation Rental By Owner (VRBO) - "May Apply"
  2. Air Bed Breakfast (Air B&B) - "May Apply"
  3. Prohibits Discrimination - Tenant w Child

AZ Residential Landlord and Tenant Act -

  1. Applies to rental dwelling units.
  • DOES NOT apply to
  1. Commercial Properties
  2. Hotels and Motels
  3. Religious Service Housing
  4. School Dormitories
  5. Public Housing (Bars)
  1. Vacation Rental By Owner (VRBO) - "May Apply"
  2. Air Bed Breakfast (Air B&B) - "May Apply"
  3. Prohibits Discrimination - Tenant w Child

Chap 19

3

(Landlord and Tenant Act)

Landlord Obligations -

  1. Security Deposit - Including Prepaid Rent - (___ Rent Max)
  2. Refundable (if stated) - Dep___, Cl______, Redec______
  3. Itemized Stmt - _ _ Days of Termination - To Use Security Deposit for Damages/Rent.
  4. Landlord Noncompliance - Subject To __x Security Deposit as Damages.

(Landlord and Tenant Act)

Landlord Obligations -

  1. Security Deposit - Including Prepaid Rent - (1 1/2 Rent Max)
  2. Refundable (if stated) - Deposits, Cleaning, Redecorating
  3. Itemized Stmt - 14 Days of Termination - To Use Security Deposit for Damages/Rent.
  4. Landlord Noncompliance - Subject To 2x Decurity Deposit as Damages.

Chap 19

4

Under Landlord and Tenant Act -

Landlord docs - must give tenant - (3 Items)

  1. L____ - Signed
  2. M___ I_ Form - Tenant List Damages
  3. M__-O__ No___ - Written Notice that Tenant May Be Present at this Final Inspecion

(Landlord and Tenant Act)

Landlord docs - must give tenant -

  1. Lease - Signed
  2. Move-In Form - Tenant list damages
  3. Move-Out Notice - Written Notice that Tenant may be Present at this Final Inspecion

Chap 19

5

Under Landlord and Tenant Act what are Landlord Disclosures?

Landlord Must Disclose -

  1. Per____ Aut______ to Manage Property
  2. Owner or O____ Ag_____ - for Service Process
  3. Land___ Ten___ Act - free copy avail through AZ Dept of Housing.

(Landlord ; Tenant Act)

Landlord Must Disclose -

  1. Person Authorized to Manage Property
  2. Owner or Owner's Agent - for Service Process
  3. Landlord Tenant Act - free copy avail through AZ Dept of Housing.

Chap 19

6

Under Landlord and Tenant Act, - Security Deposit Requirements

  1. Security Deposit - (Including Prepaid Rent) Not  Exceed __ of Rent.
  2. Refundable (if not stated non-refundable) - (3) Dep___, Cl____, Red___
  3. Itemized Stmt - (to tenant) __ Days from Termination.
  4. Landlord Noncompliance (Landlord Damages are) ___x Security Deposit
  5. Non-Refundable Fees - Cl__ning and P____ Fees may be required Above Security Deposit

(Landlord and Tenant Act)

Security Deposit Requirements -

  1. Security Deposit - (Including Prepaid Rent) Not Exceed 1 1/2 rent
  2. Refundable (if not stated non-refundable) - Deposits, Cleaning, Redecorating
  3. Itemized Stmt - to tenant 14 Days of Termination - To Use Security Deposit for Damages/ent.
  4. Landlord Noncompliance - Subject to 2x Security Deposit as Damages.
  5. Non-refundable Fees - Cleaning/Pet Fee may be required Above Security Deposit

Chap 19

7

Landlord Tenant Act - Landlord Compliance

  1. State Codes: H____, S____, Bui_____
  2. Premises: F___, Hab____ and S____
  3. Mech Equip: W___ 0rd____
  4. Trash: Have Dum___ and Remo____
  5. Water/Air: H___ and C____

(Landlord and Tenant Act)

Landlord Compliance (Conditions) -

  1. Health, Safety and Building Codes
  2. Premises - Fit, Habitable and Safe
  3. Mech Equip - Working Order
  4. Trash Have Dumpsters and Removal
  5. Water/Air - Hot/Cold

Chap 19

8

Under Landlord and Tenant Act

Tenant's Obligations

  1. Use Premises - S__ Manner
  2. Keep Premises - Cl_____
  3. Use Mech Equip - In Reas_____ Man_____
  4. Not Destroy/Deface - Pre_______
  5. Rules/Regulations - Fo_______

(Landlord and Tenant Act)

Tenant Obligations -

  1. Use Premises - Safe Manner
  2. Keep Premises - Clean
  3. Use Mech Equip - In Reasonable Manner
  4. Not Destroy/Deface - Premises.
  5. Rules/Regulations - Follow

Chap 19

9

Under Landlord and Tenant Act

Entering Tenant's Premises -

  1. Notice to Tenant - __ Days by Landlord
  2. Emergency - N_ N______

(Landlord and Tenant Act)

Entering Tenant's Premises -

  1. Notice to Tenant - 2 days by Landlord
  2. If Emergency - No Notice

Chap 19

10

(Landlord and Tenant Act)

Non-Compliance of Landlord (Tenant May):

Deliver Notice to Terminated Lease In -

  1. Breach of Health, Safety Hazard Materials, No Heat, Air, Water - __ days
  2. Misc Breaches - __ days

(Landlord and Tenant Act)

Non-Compliance of Landlord (Tenant May):

Deliver Notice to Terminated Lease In -

  1. Breach of Health, Safety Hazard Materials, No Heat, Air, Water - 5 Days
  2. Misc Breaches - 10 Days

Chap 19

11

(Landlord and Tenant Act)

For Tenant Repairs

S___ H___ for Minor D____

  1. Written Notice to Landlord - Health/Safety (__ Days)/ Misc (__ Days).
  2. Hire Licensed Contractor - Reasonable Cost - Greater of $____ max or H___ R____ (If Landlord does not promptly repair)

(Landlord and Tenant Act)

Self-Help for Minor Defects -

  1. Written Notice - to Landlord to remedy (Health Safety: 5days/Misc: 10days)
  2. Hire Licensed Contractor - Reasonable Cost - Greater of: $300 max or Half/Rent. (if landlord does not promptly repair minor defects)

Chap 19

12

(Landlord and Tenant Act)

Estate for Period (Indefinite- Month to Month) - To Terminate?

  1. Landlord Notice - ___ Day Notice to Terminate.
  2. If Tenant Given Notice on March 15 - When must they vacate (With 30 day notice)?

(Landlord and Tenant Act)

Estate for Period (Periodic - Indefinite - Mo to Mo)

  1. Landlord Notice - 30 Day Notice to Terminate

Example: If Month to Month and landlord gives notice on March 15 tenant must vacate by May 1st. So notice starts on next 1st of month April.

Chap 19

13

(Landlord and Tenant Act)

Tenant Fails to Pay Rent, Landlord May Begin Eviction By

  1. Written Notice T__ P__ - Pay within __ days
  2. Civil Courts - File a S____ D____ A_____
  3. Hold P_____ P_____ (Distraint) then S____ - ILLEGAL IN AZ

(Landlord and Tenant Act)

Tenant Fails to Pay Rent, Landlord may Begin Eviction By

  1. Written Notice to Pay - Pay within 5 days
  2. Civil Courts - Special Detainer Action
  3. Hold Personal Property (Distraint) and then Sell - ILLEGAL IN AZ

Chap 19

14

(Landlord and Tenant Act)

If Tenant Abandons Premises what happens?

  1. N____ of Aba________ - by Cert___ M___ to Tenant and must ("Post on Door" - __ days) before enter.
  2. P____ Pro____ (Distraint)- held for (___days) After Which Time Landlord May Sell Property and Apply to Unpaid Balance. Distraint - Illegal in Arizona

(Landlord and Tenant Act)

If Tenant Abandons Premises

  1. Notice of Abandonment - by Certified Mail to Tenant and must ("Post on Door" - 5 days) before enter.
  2. Personal Property - held for (14 days) After Which Time Landlord May Sell Property and Apply to Unpaid Balance. Distraint - Illegal in Arizona

Chap 19

15

 

Tenant (Domestic Violence Victim) -

May Term____ L_____, without Pen____

(Landlord and Tenant Act)

Tenant (Domestic Violence Victim) -

May Terminate Lease, without Penalty.

Chap 19

16

(Landlord and Tenant Act)

Holding Tenant's Personal Property for back rent is abolished in Arizona, but is called?

(Landlord and Tenant Act)

Distraint -

Holding Tenant's Personal Property for back rent is abolished in Arizona

Chapp 19

17

(Landlord and Tenant Act)

Court System that deal with Disputes of Landlord-Tenant Act?

(Landlord and Tenant Act)

Civil Courts -

Handle Disputes of Landlord-Tenant Act

Chap 19

18

(Landlord and Tenant Act) These items pertain to what problem?

  1. Existing Bedbug Infestation - Landlord M__ N__ Enter into Lease with Tenant.
  2. Bedbug Educational Materials - Must Be Provided by L______
  3. Materials Infested with Bedbugs - Tenant - Shall Not Move Mat____ into Apt.
  4. Bedbugs Found - Tenant - Must Notify Landlord by Wr_____ or El_____ Mail
  5. Landlord/Tenant of SFR are Ex_____ from Provisions of BedBug Laws. 

(Landlord and Tenant Act) Bedbug Control -

  1. Existing Bedbug Infestation - Landlord May Not Enter into Lease with Tenant.
  2. Bedbug Educational Materials - Provided By Landlord
  3. Materials infested with bedbugs - Tenant - Shall Not Move Material into Apt.
  4. Bedbugs Found - Tenant - must Notify Landlord by Written or Electronic Mail
  5. Landlord/Tenant of SFR are Excluded from Provisions of BedBug Laws.

Chap 19

19

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property For Others For a Fee.

  1. Broker (Property Manager)
  2. Broker (G_____ Agent) - of Owner
  3. Handles More Than One Property - Must be Licensed.
  4. Broker/Agent - Fiduciary Relationship to Owner (CARLOD - Compentency, Accounting, Reasonable Care, Loyalty, Obedience, Disclosure)
  5. Agent Represents Broker.

Property Management -

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property For Others For a Fee.

  1. Broker (Property Manager)
  2. Broker (General Agent) - of Owner
  3. Handles More Than One Property - Must be Licensed.
  4. Broker/Agent - Fiduciary Relationship to Owner (CARLOD - Compentency, Accounting, Reasonable Care, Loyalty, Obedience, Disclosure)
  5. Agent Represents Broker.

Chap 19

20

People are concerned with Getting the Highest Net Return on the Owner's Investment and Protecting Owner From Foreseeable Risk.

Duties Include:

  1. Lease Units             6. Advertising
  2. Vacancies                7. Rpts to Own
  3. Collect Rents           8. Supplies
  4. Keep Accounts        9. Hire Emps
  5. Maintenace            10. Remods

Recommendations for:

  1. Liability & Fire Insurance  
  2. Workman's Comp Insurance

Property Managers -

People are concerned with Getting the Highest Net Return on the Owner's Investment and Protecting Owner From Foreseeable Risk.

Duties Include:

  1. Lease Units             6. Advertising
  2. Vacancies                7. Rpt to Own
  3. Collect Rents           8. Supplies
  4. Keep Accounts        9. Hire Emps
  5. Maintenace             10. Remods

Recommendations for:

  1. Liability & Fire Insurance  
  2. Workman's Comp Insurance

Chap 19

21

Property Mgmt Agmts shall state:

  1. Prop Mgmt Service - Te__ and Con______
  2. Prop Mgr - Obl____, Dut_____ and Resp________
  3. Signed By - O____ and Designated Br_____
  4. Time Frames - B____ and T_____ Dates
  5. Can________  Prov_________
  6. Required Disposition - Mon____ Col______.
  7. Status Reports - Specify Ty__ and Freq_______
  8. Operating  Reserves - State Am____/Purpose  held for Emer_____
  9. T____ Acct - Disposition/Allocation Interest Earned (Remove Every __ Months)
  10. Com_______ - State Terms/Conditions of Owner
  11. No Assignment - Without Ow___ Con_____.

Property Management Agreements shall state:

  1. Property Mgmt Services - Terms/Conditions
  2. Obligations, Duties and Responsibilities
  3. Signed: by Owner and Designated Broker
  4. Begin/Termination Date
  5. Cancellation Provisions
  6. Requirement for Disposition of Monies Collected.
  7. Status Reports - Specify Type and Frequency
  8. Operating Reserve - State Amount/Purpose held for Emergencies
  9. Trust Acct - Disposition/Allocation Interest Earned (Remove Every 12 months)
  10. Compensation - State Terms/Conditions of Owner
  11. No Assignment - Without Owners Consent.

Chap 19

22

Property Management Accounts

  1. All Pro_____ Mgmt Ac______ shall be designated as Trust Accounts.
  2. Designated Broker, Agents, Employees May Sign Checks, but OWNER M__ N__ S____!

Property Management Accounts

  1. All Property Management Accounts shall be Designated as Trust Accounts.
  2. Designated Broker, Agents, Employees may sign checks, but OWNER MAY NOT SIGN!

Chap 19

23

Property Management (Record Keeping)

  1. Residential Property:
  1. Leases/Finder Fee - (_ yr) After Termination
  2. Financial - (__ yrs)
  1. Commercial Properties - (__ years)
  2. Property Mgmt Agmts - Terminated - To Owner in:
  1. (5 days) - Security Deposit List
  2. (35 days) - Reimbursement All Monies in Accounts
  3. (75 days) - Final Accounts Receivable/Payable List
  4. (75 days) - Final Bank Account Reconciliation

Property Management (Record Keeping)

  1. Residential Property:
  1. Leases/Finder Fee - (1 year) After Termination
  2. Financial - (3 years)
  1. Commercial Properties - (5 years)
  2. Property Mgmt Agmts - Terminated - Give owner in;
  1. (5 days) - Security Deposit List
  2. (35 days) - Reimbursement All Monies in Accounts
  3. (75 days) - Final Accounts Receivable/Payable List
  4. (75 days) - Final Bank Account Reconciliation

Chap 19

24

Finders Fee Payments may be Paid to an Unlicensed Person who is a Tenant in a Apartment Complex.

Must be:

  1. R___ Cr_____
  2. R___ Red_______
  3. C____t be Ca__

Finders Fee Payments to Tenants

Finders Fee Payments may be Paid to an Unlicensed Person who is a Tenant in a Apartment Complex.

Must be:

  1. Rent Credit
  2. Rent Reduction
  3. Cannot be Cash

Chap 19

25

These are Property Management Situations that are Legal or Illegal?

  1. Agent/Associate Broker Acting Outside of Brokerage as Management.
  2. Unlicensed Person providing Property Management Services, to More that One Property.

Property Management Situations - Both Illegal

  1. Agent/Associate Broker Acting Outside of Brokerage as Management.
  2. Unlicensed Person providing Property Management Services, Illegal if handling more than one property.

Chap 19

26

P_______ C_______

A Real Estate Development which Includes Real Estate 0wned by An Association created for purpose of the following is called?

  1. Prop____ Du_____ - Managing, Maintaining, and Improving.
  2. Sep_____Owned Par___ - Owners Manda____ Members and are required to pay Ass______ Assessments.
  3. Resale - __ days Written Notice of Pending Sale and Docs Delivered to Purchaser if:
    1. 49 Units or Less - S_____ Provides
    2. 50 units or more - Ass_____ Provides

Planned Community -

A Real Estate Development which Includes Real Estate 0wned by An Association created for purpose of

  1. Property Duties - Managing, Maintaining, and Improving.
  2. Separate Owned Parcels - Owners Mandatory Members and are Required to Pay Association Assessments.
  3. Resale - 10 days Written Notice of Pending Sale and Docs Delivered to Purchaser if:
    1. 49 Units or Less - Seller Provides
    2. 50 units or more  - Association Provides

Chap 19

27

Resale Units - Planned Community

Written Notice of Pending Sale - (__days) Buyer must receive:

  1. By-L____ and Ass____ Rules
  2. Dec_______ - of Planned Community
  3. Name - Prin_____ Con_____ of Association
  4. Association Ass_______ - Amount
  5. Ins______ Stmt - Partial Coverage paid by Assoc
  6. Res______ - Total Monies Held
  7. Oper____ Bud_____/Fin_____ Rep___ - Current Copy
  8. Alt______/Impr______ - In Violation
  9. Lit_____ Pen____- On Unit to Owner or Association
  • 1-49 units - Seller must provide
  • 50+ units - Association must provide info. Board meets Annually - Complies with Open Mtg Laws

Resale Units - Planned Community

Written Notice of Pending Sale - (10days) Buyer must receive:

  1. By-Laws and Association Rules
  2. Declaration - of Planned Community
  3. Name - Principal Contact of Association
  4. Association Assessment - Amount
  5. Insurance Stmt - Partial Coverage paid by Assoc
  6. Reserves - Total Monies Held
  7. Operating Budget/Financial Reports - Current Copy
  8. Alterations/Improvements - In Violation
  9. Litigation Pending - On Unit to Owner or Association
  • 1-49 units - Seller must provide
  • 50+ units - Association must provide info. Board meets Annually - Complies with Open Mtg Laws

Chap 19

28

This Person concerned with getting Highest Return on Owner's Investment and Protecting the Owner from Foreseeable Risk.

Property Manager -

This Person concerned with getting Highest Return on Owner's Investment and Protecting the Owner from Foreseeable Risk.

Chap 19

29

Property Mgmt Agreement - Must State

  1. Ser_____, Obligations, and D______. 
  2. Signed by Owner and Broker,
  3. Begin and End D_____,
  4. Can_______ Provisions,
  5. Conditions of Comp_______
  6. Freq_____ of Status Reports,
  7. Deposition of all Monies,
  8. Op_____ Reserves,
  9. Trust Account - Interest Ea_____
  10. Not assigned to Another without Consent

Property Mgmt Agreement -

This Document Must State all "Material Terms, regarding

  1. Services, Obligations, and Duties. 
  2. Signed by Owner and Broker,
  3. Begin and End dates,
  4. Cancellations Provisions,
  5. Conditions of Compensation
  6. Frequency of Status Reports,
  7. Deposition of all Monies,
  8. Operating Reserves,
  9. Trust Account - Interest Earned
  10. Not assigned to Another without Consent

Chap 19

30

Property Management (Record Keeping)

  1. Property Mgmt Agmts - Terminated - To Owner in:
  1. (__days) - Security Deposit (List)
  2. (__ days) - Reimbursement All Monies in Accounts
  3. (__ days) - Final Accounts Receivable/Payable list
  4. (__ days) - Final Bank Account Reconciliation

Property Management (Record Keeping)

  1. Property Mgmt Agmts - Terminated - Give owner in;
  1. (5 days) - Security Deposit (List)
  2. (35 days) - Reimbursement All Monies in Accounts
  3. (75 days) - Final Accounts Receivable/Payable list
  4. (75 days) - Final Bank Account Reconciliation

Chap 19