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Define the term 'parties' in a lease agreement.

• The term 'parties' signifies the duration of the lease agreement.

• The term 'parties' includes only the landlord's representatives.

• The term 'parties' in a lease agreement refers to the landlord and tenant involved in the contract.

• The term 'parties' refers to the legal documents involved in the lease.

What is a 'term' in the context of a lease?

• The price of the lease agreement.

• The duration of a lease agreement.

• The location of the leased property.

• The type of property being leased.

Explain what a 'lease' is.

• A lease is a verbal agreement without any payment involved.

• A lease is a contract granting use of an asset for a specified time in exchange for payment.

• A lease is a permanent ownership of an asset.

• A lease is a type of insurance policy for property.

Who is referred to as a 'tenant'?

• A person who owns property outright.

• A person who manages rental properties.

• A person who provides legal advice on property matters.

• A person or entity that rents property from a landlord.

What is the role of a 'landlord'?

• To act as a real estate agent for buyers.

• To provide legal advice to tenants.

• To manage public housing projects.

• The role of a landlord is to own and manage rental properties.

Define 'landlady' and how it differs from 'landlord'.

• A landlady is a male property owner who rents out property.

• A landlady is a female property owner who rents out property, whereas a landlord is a male property owner.

• A landlady is someone who manages property but does not own it.

• A landlady is a type of landlord regardless of gender.

What does 'rent' mean in a leasing context?

• A fee charged for property maintenance services.

• The payment made by a tenant to a landlord for the use of property.

• The process of selling a property to a buyer.

• A legal document outlining property ownership.

What is a 'security deposit' and why is it required?

• A security deposit is a fee paid to the landlord for maintenance services.

• A security deposit is a one-time payment for utilities during the lease.

• A security deposit is an advance rent payment that guarantees a lease agreement.

• A security deposit is a financial guarantee required by landlords to cover potential damages or unpaid rent.

Explain the term 'factor' in relation to leasing.

• A factor is a type of lease agreement that specifies payment terms.

• A factor in leasing is a financial intermediary that buys lease receivables to provide immediate cash flow to the lessor.

• A factor refers to the depreciation rate of leased assets.

• A factor is a legal document that outlines the responsibilities of the lessee.

Why might a tenant 'complain' during a lease term?

• Tenants may complain about maintenance issues, noise, landlord communication, or lease disputes.

• Tenants often complain about the color of the walls.

• Tenants might complain about their neighbors' pets.

• Tenants may complain about the weather.