1|Page: 2024/2025 Grade A+
SC Property Management Exam Questions and
Correct Answers & Latest Updated
Residential Landlord and Tenant Act
o :## Created in 1986
Residential Landlord and Tenant Act - Purpose
o :## Simplify, clarify, modernize, and revise the law governing rental of dwelling units and the
rights, obligations of landlords and tenants. To encourage landlords and tenants to maintain
and improve the quality of housing.
Administration Remedy
o :## Any right or obligation declared is enforceable by action unless the provision declaring it
specifies a different and limited effect.
Settlement of disputed claim or right
o :## A claim or right arising on a rental agreement, if disputed in good faith, may be settled by
agreement.
Action
o :## Include recoupment, counterclaim, set-off, suit in equity, and any other proceeding in
which rights are determined, including an action for possession.
Building and Housing Codes - Enforcement
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o :## Any law, ordinance, or governmental regulation concerning fitness for habitation, or the
construction, maintenance, operation, occupancy, use, or appearance of any premise or
dwelling unit.
Dwelling Unit
o :## A structure or the part of a structure that is used as a home, residence, or sleeping place
by one person who maintains a household or by two or more persons who maintain a
common household and includes landlord-owned mobile homes. Property that is leased for
the exclusive purpose of being renovated by the lessee (tenant) is not considered a dwelling
unit within the meaning. Lessor (owner)
Fair-Market Rental Value - Collusion
o :## The actual periodic rental payment for comparable rental property to which a willing
landlord and a willing tenant would agree. In determining the fair-market rental value the
court may consider appraisals offer by the tenant, landlord, realty experts, licensed appraisers
and other relevant evidence.
Good Faith
o :## Honesty in fact in the conduct of the transaction concerned
Landlord
o :## The owner, lessor, or sublessor of the premises and also means manager of the premises
who fails to disclose
Organization
o :## Includes a corporation, government, governmental subdivision or agency, business trust,
estate, trust, partnership or association, two or more persons having a joint or common
interest, and any other legal or commercial entity
Owner
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o :## Means one or more persons, jointly or severally, in whom is vested in all or part of the
legal title to property or all or part of the beneficial ownership and a right to present use and
enjoyment of the premises. The term includes a mortgagee (lender) in possession.
Mortgagee
o :## A lender in a mortgage loan transaction.
Mortgager
o :## an owner who gives a security interest in property in order to obtain a loan
Person
o :## Includes an individual or organization
Premises - Property "Appliances"
o :## Means a dwelling unit and the structure of which it is a part and facilities and
appurtenances therein and grounds, areas, facilities held out for the use of tenants generally
or whose use is promised to the tenant.
Rent
o :## The consideration payable for use of the premises including late charges whether payable
in lump sum or periodic payments, excluding security deposits or other charges
Rental Agreement
o :## All arrangements, written or oral, and valid rules and regulations adopted under Section
27-40-520 embodying the terms and conditions concerning the use and occupancy of a
dwelling unit and premises
Roomer - Room Renter Only
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