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Chapter 10

Max owns a townhouse in CA. He is in the process of leasing it to Hannah. The contractual lease states Hannah will be leasing Max Thomas' townhouse for two years beginning July 1., paying $1,000 per month due by the first of each month. What is missing? Missing minimum requirement is the absence of a sufficient description of the property, such as an address and/or a legal description.
The tenants have been complaining to Dr. Mullins of bats in the attic. At times, the bats have flown downstairs into the living areas of the home. Which guarantee covers the tenants' right that the property meets the minimum health and housing codes? Implied Right of Habitability
Renee is leasing her condo in CA from Brad. Every six months her rent will increase $100 per month based on the increases to Brad in taxes, insurance, and other operating costs. What type of lease has Renee signed? Escalator Clause Lease
Tenants are three months behind in their rent and neighbors Mike wants to just go in and remove the possessions, shut off all the utilities, and change the locks. What are the options? It is illegal for Mike to take such actions. The landlords may serve the tenants with a three-day notice of eviction
Shanta is renting an unfurnished CA bungalow. Shanta's monthly rent is $1,600. Her landlord, Harold, is requiring a $6,400 nonrefundable security deposit. This amount includes her first month's rent. Is this an acceptable amount for a security deposit? No, the maximum security deposit allowed in California for an unfurnished property is two months' rent. The correct amount would be $4,800, including the first month's rent. Additionally, security deposits cannot be labeled as nonrefundable.
The plumbing keeps backing up into the basement. Jonathan has repeatedly reported this issue. It has been two months and not only has nothing been done, they have not even responded to his calls or requests. What are Jonathan's options? Jonathan has a couple of options available to resolve this issue. He may spend up to one month's rent in repairs or abandon the premises. If he abandons the premises, Jonathan is relieved from paying additional rent and other conditions of the lease
Michelle has rented a property to Luis for four years. The home is going to be leveled for a project through eminent domain, Michelle must sell her home to the city for the construction. What is the required length of notice terminating the lease? Michelle must give Luis a sixty-day written notice of the lease termination because he has lived in the property for more than one year.
What circumstances require a lease to be in writing? California's Statute of Frauds requires a lease to be in writing if it has a term of more than one year, or has a term of less than one year, which expires more than one year after the agreement is reached.
Samir is a landlord leasing apartments for residential use. He will be updating his units during the month of January and the maintenance crew has been entering units at will to make the changes. Is it acceptable? No, although it is an acceptable reason for the landlord to enter the units, they must give the tenant at least a 24-hour notice and enter between normal business hours.
Which of the following is not a type of leasehold estates? A. An Estate for Years B. An Estate from Period to Period C. Tenancy in Common D. Estate at Will C. Tenancy in Common
4 main types of of leasehold estates Estate for Years From Period to Period - May be terminated by either party by written notice equal to the term of the tenancy or 30 days, whichever is less Estate at Will - Estate at Sufferance- When a tenant stays past the term of his lease
Actual Eviction vs. Constructive Eviction Actual Eviction - The landlord's remedy to regain possession of property. Constructive Eviction - This is the tenant's remedy if property is not habitable.
Net Net Lease The tenant pays for the insurance as well.
Net lease The tenant has agreed to pay ownership expenses, usually utilities, property taxes, and special assessments.
Graduated Lease Cost goes up at regular intervals.
Ground Lease Long-term lease, usually 99 years; tenant may build on a property with a ground lease, but property is still the landlord's.
Index Lease Lease is based on some type of index, such as Cost of Living, etc. Usually adjusts upward.
Appraisal Lease A lease which states a date in the future for a new appraisal. (If the appraisal is higher than last appraisal, the rent will go up accordingly.)
Economic Rent Currently referred to as MARKET RENT, it is the rental income that real estate can command in an open, competitive market at any given time, in contrast with contract rent, or the income actually received under a lease agreement.
In a lease, the Lessor (owner) has what type of interest? Freehold interest
In a lease, the Lessee (tenant) has what type of interest? Leasehold interest
Dual nature of a lease Conveyance by the landlord to the tenant of an estate in real property covering the premises leased; AND Contract between the two, which governs the landlord's delivery and maintenance of the premises and the tenant's possession, use, and payments
CA Statute of Frauds requires lease in writing if it either .... Has a term longer than one year; or Has a term less than one year, which expires more than one year after the agreement is reached (e.g. lease agreement made prior to actual start of the lease which is in some future date).
Does a lease require signature of the lessee? CA courts held that IF a lease is written, then it MUST be signed by the lessor. (lessee is not required to sign to make it valid, since the fact that the lessee is occupying the property is considered proof that he's accepted the lease agreement.)
California lease MINIMUM requirements Must state the length or duration of the lease. Amount of rent and the date on which it is to be paid. Names of the parties (lessee and lessor). Sufficient description of the property. Evidence of intent to create a landlord-tenant relationship
Contract Rent Actual amount of rent to be paid
Economic Rent The amount of rent that a property could yield, were it available for lease
Rent control may not be adopted by any government agency on what type of property Non-residential
Assignment The transfer of a tenant's remaining rental rights in a property to a third party. The tenant is allowed to transfer rights, but not his responsibilities, unless the landlord is in agreement
sandwich lease lessee or sublessee who holds a sandwich lease is BOTH a tenant AND a landlord to the same property.
lease renewal A new and distinct tenancy; therefore, the parties should execute an entirely new instrument.
lease extension A continuation in possession under the original lease. A lease extension may also occur if the tenant holds over with permission from the landlord.
The maximum allowed security deposits for residential properties (in addition to first month's rent) are? For an unfurnished rental, 2 months' rent For a furnished rental, 3 months' rent
IF there is NO damage or cleaning required to the vacated property, then the landlord has a maximum of how many days from the date of the tenant vacating the property to refund the security (and "cleaning") deposits? 21 days
If either all or a portion of the deposit is to be withheld from the tenant, then the landlord must provide the following to the tenant, and in what timeframe? Within 21 days from the date of the tenant vacating the property - an itemized, written statement of the items and their charges, under Section 1950.5 (g) 1-3 of the California Civil Code.
Potential penalties for bad faith retention of deposits from a tenant? The landlord is liable for actual damages, a statutory penalty not exceeding $600.00, AND interest thereon at the rate of 2% per month from the due date until paid. The landlord might also be held liable for punitive damages
Eviction steps (assuming none of each of the prior steps is successful) Either a 3-day or a 30-day notice. Unlawful detainer is filed. Court will award the landlord a judgment Landlord will ask for a writ of possession The sheriff will send the eviction notice to the tenant. SHERIFF will physically remove the tenant.
Created by: sorman
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