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Real Estate Exam Questions | Leasing and Property Management - YouTube
Channel: The Real Estate Classroom
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hey everybody my name is paul bachewski
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and welcome to the real estate classroom
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youtube channel before we get started do
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me a favor give this video a thumbs up
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hit that red subscribe button click on
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the notification
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[Music]
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bell
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so today's question of the day comes
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from section 8 of our playlist
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or playlist number eight and it revolves
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around leasing and property management
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so here is today's practice exam
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question
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this type of tendency terminates
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immediately upon
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notice from either the less the lessor
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or
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the lessee now notice i have the lessor
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and the less e
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highlighted in yellow and the reason is
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those are key real estate terms now
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anytime you see a real estate licensing
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exam question you have to break it down
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into its components
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so number one definition define the
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terms what does tenancy mean tenancy
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is that landlord-tenant relationship and
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lessor lessor is the name or the legal
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term for
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the landlord or property manager and the
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lessee
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is known as the tenant so
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let's rephrase the question once we've
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defined what the terms are
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this type of relationship terminates
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immediately upon
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notice from either the landlord or the
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tenant
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and your choice is a tenancy at
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sufferance
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b tenancy at will c tenancy for
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years or sometimes called estate for
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years depending on how the test
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question is phrased and d periodic
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tendency also known as
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tenancy from period to period
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so pause this video and see what answer
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you came up with
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and the correct answer is b tendency at
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will
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now one of the things i like to do is go
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over the correct answer and why it's the
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correct answer and then why
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the incorrect answers are not the
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correct answer so let's take a look at
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tenancy at will now tenancy at will
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the root here is at will right so in
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this type of landlord-tenant
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relationship either the landlord or the
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tenant
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at any time can give notice
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and that notice immediately terminates
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their relationship
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and the tenant would have to move that's
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called tenancy at will
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let's look at a tendency at sufferance
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the root word here
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is sufferance that means someone is
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suffering whether it's the landlord or
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the tenant depending on the situation so
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if the tenant is not paying the rent or
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the tenant gave notice or the landlord
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gave notice and the tenant didn't move
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and so they're still living in the
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property beyond the expiration date of
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the lease agreement
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that means the landlord is suffering so
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it's tenancy at sufferance
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the other way it could potentially be in
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a constructive eviction situation
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is where the the landlord isn't holding
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up their end of the bargain
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and the the tenant has actually
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terminated the lease
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legally under constructive eviction and
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now the tenant
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is suffering the point is with this
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particular one
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is it is someone within that
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relationship the landlord or tenant they
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are suffering because of the actions or
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inactions of the other party
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and by the way it one thing you need to
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know is tenancy at suffrance is the
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least
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desirable of all four of these uh
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tenancy situations
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let's look at c tenancy for years
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now sometimes this gets misconstrued by
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by students and it's misunderstood
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because that term
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years is in there the thing you have to
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know about tenancy for years or estate
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for years is simply it means that this
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lease agreement has a
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a fixed expiration date a fixed
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date that that lease agreement expires
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it can be for three months six months
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nine months 12 months 24 months
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it doesn't matter the term it simply
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means
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that it ends on a very specific date
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all right and then d periodic tenancy or
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sometimes called tenancy
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from period to period that just means uh
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that it
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it renews after the period has expired
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so the most common is month to month
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where a month-to-month lease agreement
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unless the landlord or the tenant gives
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notice
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it automatically renews the next month
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or
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the next period now if it's a periodic
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quarterly tenancy situation then that
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means
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that it's a uh with proper notice
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or or the each quarter then the lease
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agreement
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is reaffirmed and it starts over again
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and it still would require the landlord
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or the tenant to give proper notice at
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the end of that period for the lease
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agreement to expire
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so a b c and d all four of those are
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legitimate key real estate terms that
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you have to know for
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your real estate licensing exam but b
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is the correct answer for this practice
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test question
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well that's it for today's practice test
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question if you're going to continue
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studying
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check out this video right here and if
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yet please do so
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would appreciate it i'll see you in the
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