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Leasing agent exam with correct answers
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Leasing agent exam with correct answers
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Leasing agent exam with correctanswers
The statue of fraud in Illinois states:
a. All leases must be in writing.
b. Leases for less than a year are enforceable if oral, even if they cannot be
completed within a year of their making.
C. Contracts entered into by minors are void.
d. That leases for more than a year or that cannot be completed within a
year of their making must be in writing to be enforceable. - ANSWERS✔✔ a. All leases must
be in writing.
George rents an apartment signing a lease for one year, starting October 1st. He pays the 1st
month's rent and pays an amount equal to one month's rent as a security deposit. If, after 4
months, George moves out of the apartment having paid rent for the full 4 months...
a. George is responsible for the rent for the remaining 8 months only..
b George is responsible for the remaining rent plus the security deposit.
C.George is not responsible for the remaining 8 months if he had to move to
another city and had no choice.
d. George is responsible for the rent plus any expense incurred to re-rent the
apartment for the remaining 8 months, less the amount of rent the landlord
collects from a new tenant during the remaining term of the lease. - ANSWERS✔✔ a.
George is responsible for the rent for the remaining 8 months only..
A tenant has signed a lease for 1 month starting October 1st and ending October
31st. The lease is an:
a. Estate from period to period
, b. Estate for years
c. Estate at sufferance
d. Estate at will - ANSWERS✔✔ b. Estate for years
Under the Illinois Law of Agency...
a. Only the lessee can be your principal.
b. Only the lessor can be your principal.
30 85
c. You can represent either the lessee or the lessor.
d. You can represent both the lessor and the lessee provided that you make proper disclosure
and obtain written consent from each. - ANSWERS✔✔ d. You can represent both the lessor
and the lessee provided that you make proper disclosure and obtain written consent from
each.
Any personal property being rented with the lease should be mentioned in the lease. These
items would include:
a. The water heater
b. The furnace
c. The stove and the refrigerator
d. The light fixtures - ANSWERS✔✔ d. The light fixtures
The majority of residential leases are:
a. Gross leases
b. Net leases
c. Triple net leases
d. Percentage leases - ANSWERS✔✔ b. Net leases
It is unlawful to provide in a residential lease:
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