Lease Administration & Enforcement Flashcards

How long must Low Income Housing Tax Credit (LIHTC) property owners retain tenant certification records per IRS requirements?

Answer: 6 years after the due date of the tax return for each credit year

The IRS requires LIHTC owners to retain all tenant eligibility and certification records for at least 6 years after the due date of the tax return on which credits were claimed.

What constitutes a 'material breach' of a lease agreement?

Answer: A significant violation of an essential lease term that justifies lease termination

A material breach is a substantial violation of a fundamental lease term—such as nonpayment of rent or serious property damage—that goes to the core of the rental agreement and can justify termination.

What does 'unlawful detainer' mean in the context of lease enforcement?

Answer: A tenant's continued occupation of a unit after their legal right to possession has ended

Unlawful detainer refers to a tenant's continued possession of a rental unit after their legal right to occupy has terminated, such as following a lease expiration or service of an eviction notice.

Under what circumstances may a landlord enter a tenant's unit without advance notice?

Answer: In genuine emergencies, such as a fire, gas leak, or flooding

Landlords may enter without advance notice only in genuine emergencies where immediate entry is necessary to prevent imminent harm to persons or property.

What is the primary function of a move-out inspection report in lease administration?

Answer: To document the unit's post-vacancy condition and determine allowable security deposit deductions

A move-out inspection documents the condition of the unit after the tenant vacates, establishing which damages, if any, exceed normal wear and tear and justify security deposit deductions.

When a property manager terminates a lease for cause, which documentation is essential to support the action?

Answer: Specific lease violations, dates of occurrence, all notices provided, and any tenant responses

For-cause terminations require comprehensive documentation of each specific violation, including dates, all notices issued, and any tenant responses, to defend the action against potential legal challenges.

For HUD Section 8 project-based housing, what is the maximum security deposit a property owner may collect from a tenant?

Answer: The greater of $50 or one month's Total Tenant Payment (TTP)

HUD regulations for Section 8 project-based housing cap the security deposit at the greater of $50 or one month's Total Tenant Payment (TTP), the amount the tenant actually pays.