Property Management Flashcards

Under the Americans with Disabilities Act (ADA), commercial property owners must provide:

Answer: Reasonable accommodations and accessible facilities for people with disabilities

The ADA requires places of public accommodation and commercial facilities to be accessible to people with disabilities, including accessible entrances, restrooms, and common areas.

A property management agreement must include:

Answer: The scope of authority, management fee, and duration of the agreement

A management agreement defines the manager's authority, compensation (usually a percentage of collected rent), term, and responsibilities to create a valid agency relationship.

A landlord may legally use information from a rental application to:

Answer: Screen for creditworthiness, rental history, and income verification

Landlords may use rental application data to evaluate financial stability, rental history, and income in a consistent, non-discriminatory manner.

The implied warranty of habitability requires landlords to:

Answer: Maintain the premises in a safe, sanitary, and livable condition

The implied warranty of habitability is a legal doctrine holding landlords responsible for maintaining rental properties in a condition fit for human habitation.

A lease renewal option gives the tenant the:

Answer: Right to extend the lease for an additional term at pre-agreed terms

A renewal option clause in the lease allows the tenant to extend the tenancy for a specified term, often at a predetermined rent or formula.

What is the key difference between subletting and assigning a lease?

Answer: In an assignment, the original tenant transfers all remaining lease rights; in a sublease, the original tenant retains obligations and collects rent from the subtenant

Assignment transfers all lease rights to a new tenant (assignee), while subletting creates a new landlord-tenant relationship between the original tenant and subtenant, with the original tenant remaining liable to the landlord.