Presentation on theme: "Renting & the Law CHAPTER 33. Renting & the Law: Chapter 33 The person who rents property is the Tenant or Lessee. The person who owns property and."— Presentation transcript:
Renting & the Law: Chapter 33 The person who rents property is the Tenant or Lessee. The person who owns property and rents it out to someone you are the Landlord or Lessor. The contract between a tenant and a landlord is called a LEASE.
Renting & the Law: Chapter 33 There are 4 types of Tenancy TENANCY – interest in the real estate they lease Tenancy For Years Right to occupy property for a definite & fixed period of time Periodic tenancy Tenancy that continues for successive fixed periods Tenancy at Will Interest in real property that continues indefinitely Tenancy at Sufferance (illegal) When a tenant doesn’t leave premises after tenancy expires
Renting & the Law: Chapter 33 Covenants are the terms of a lease. They outline the rights & duties of the landlord & tenant Tenants rights: possession & continued occupancy Landlord rights: rent $ & property in good condition at term’s end Security Deposit $ paid to landlord at start of a tenancy PLUS the 1 st month’s rent
Renting & the Law: Chapter 33 Assignment is the transfer of remaining part of the term of a lease to someone else. Sublease is when you transfer part but not the remainder of lease to someone else. Tenants who sublet may renew the lease, creating a new lease contract. Rent Control Laws keep rent within an affordable range and outline the eviction process
Renting & the Law: Chapter 33 Things to consider when choosing an Apartment LOCATION FINANCES BUILDING LAYOUT & FACILITIES
Renting & the Law: Chapter 33 DUTIES OF THE LANDLORD Duties are outlined in the Law and the Lease Practice non-discriminating leasing Maintain the premises Deliver peaceful possession Civil Rights Act Protects the 5 protected classes we’ve studied PLUS the blind or those who may have children in the future Rental property offered for dwelling purposes must be fit for human habitation. clean, properly heated, ready for utility usage & safe Quiet Enjoyment
Renting & the Law: Chapter 33 DUTIES OF THE TENANT (outlined in lease) Paying Rent Abiding by terms of the lease If not you could be evicted (deprived of possession of property) Avoiding waste Waste –severe damage to premises that decreases its value Returning Fixtures Fixtures – items of personal property attached to real property (dishwashers, cabinets, ceiling fans) Trade Fixtures – items of personal property brought by tenant
Renting & the Law: Chapter 33 EVICTION Happens when: Don’t pay rent Remain on property after end of lease Damage to premises (waste) Violating covenants in lease Landlord can NOT evict by force. They must obtain a court order. CONSTRUCTIVE EVICTION Happens when the landlord breaches their duties. Lease can be considered terminated, you can leave premises and stop paying rent. Also handled by the court
Renting & the Law: Chapter 33 TORT LIABILITY When someone is injured on rented/leased property both landlord AND tenant may be liable The person in control of the area where injury occurs is liable if negligent Landlord can be liable for injury caused by defect in common areas (hallway, stairs) Tenant can be liable for injury caused by defects in areas they control (living room, bathroom)
Your consent to our cookies if you continue to use this website.