Real Estate Chapter 16

Real Estate Chapter 16

University

20 Qs

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Real Estate Chapter 16

Real Estate Chapter 16

Assessment

Quiz

Other

University

Hard

Created by

Saniya Moore

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When establishing the length of service terms, she understands that…?

Length of service terms are flexible, and she must consider both her income and the owners' financial goals.

She should establish terms that correspond to semester length, even if renting to non-students.

The local college has the final say about management agreement terms.

Local governing bodies typically set term boundaries.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a legal contract created when a property owner enters into an agreement with a tenant, giving the tenant the right to occupy and use real property, subject to terms and conditions?

Lease

Easement

Encroachment

Life estate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Lease contracts are used for…?

Both commercial and residential real estate

Only commercial real estate

Only residential real estate

Only fractional ownership real estate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an example of a common lease restriction?

Restricted access hours to the leased unit

Occupancy limits

Provision about pets

Restriction on commercial activities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not something a lease automatically gives a tenant the right to do?

Sublease the property

Occupy the property

Possess the property

Use the property

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: If a lease does not specify any restrictions, the tenant can use the leased space for any lawful purpose?

True. If no restrictions are specified, the tenant can use the property for any lawful purpose.

False. Tenants may only possess, use, and occupy leased space.

True. Tenants may also use the space for unlawful activities, if the lease does not specify otherwise.

False. Tenants in a residential lease can never use leased space for commercial purposes.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should a landlord include in a lease provision about pets?

All of the answer choices provided are correct

What types of animals are allowed

How many animals are allowed

An additional security deposit requirement for pet damage

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