Key Elements of Lease Agreements Quiz
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Questions and Answers

Which of the following is NOT a key element of a lease?

  • Defined period of time
  • Absence of a written document (correct)
  • Exclusive possession
  • Charging a rent

    • What is required to create a deed for a lease/tenancy?

  • Witnessed signatures and delivery (correct)
  • Exclusive possession
  • Fixed period of time
  • Oral agreement

    • In the case of more than one tenant, who is liable for the rent and other terms of the tenancy?

  • The landlord
  • The primary tenant
  • The secondary tenant
  • All tenants jointly and severally (correct)

    • What right do tenants have to live in the property without interference?

    <p>Implied right known as quiet enjoyment</p> Signup and view all the answers

    What term refers to the creation of leases/tenancies for more than three years?

    <p>Deed creation</p> Signup and view all the answers

    What is a disadvantage of oral contracts (those not in writing) in lease agreements?

    <p>They are difficult to prove in case of disputes</p> Signup and view all the answers

    What is the main difference between an assured tenancy and an AST?

    <p>An assured tenancy requires express wording, while an AST is automatically created</p> Signup and view all the answers

    When can a landlord serve a Section 13 notice to increase the rent?

    <p>If there is no rent review clause in the tenancy agreement</p> Signup and view all the answers

    Under what circumstances can rents be challenged at the FTT?

    <p>Under some circumstances</p> Signup and view all the answers

    How long is the minimum notice required under the Protection from Eviction Act 1977?

    <p>Four weeks' notice</p> Signup and view all the answers

    What is required for possession to be given for discretionary cases under Rent Act 1977 tenancies?

    <p>Written notice and proving of all discretionary cases</p> Signup and view all the answers

    When can a landlord use an accelerated possession procedure?

    <p>When seeking possession of an AST</p> Signup and view all the answers

    What is the main difference between a fixed period tenancy and a periodic tenancy?

    <p>Fixed period tenancies need a notice to quit served to end them, while periodic tenancies end by effluxion of time</p> Signup and view all the answers

    What is the default tenancy if an oral tenancy is created or a tenant is allowed to move in and pays rent?

    <p><strong>Assured Shorthold Tenancy (AST)</strong></p> Signup and view all the answers

    What type of notice does an AST require if possession is needed within the fixed term or in the first six months of a periodic tenancy?

    <p><strong>Section 8 notice</strong></p> Signup and view all the answers

    Section 21 notice (Form 6A) needs to be served with a minimum of how many months' notice for an AST?

    <p><strong>Two months' notice</strong></p> Signup and view all the answers

    What kind of clause should satisfy unfair terms legislation if included in a tenancy agreement?

    <p>Rent review clause</p> Signup and view all the answers

    What is the minimum notice period required for landlords to regain possession?

    <p>Four weeks</p> Signup and view all the answers

    Under what circumstances can a landlord lawfully regain possession?

    <p>If the tenant surrenders the tenancy or the landlord gets a court order for possession</p> Signup and view all the answers

    What is the cooling-off period for letting agency contracts signed at the market appraisal away from the agent's office?

    <p>14 days</p> Signup and view all the answers

    What is the maximum penalty charge for breach of a banning order?

    <p>£30,000</p> Signup and view all the answers

    What can tenants or LHAs apply to an FTT for since April 2017?

    <p>Rent repayment order (RRO)</p> Signup and view all the answers

    What is the database established by the Secretary of State related to?

    <p>Landlords and agents served with banning orders or guilty of banning order offences</p> Signup and view all the answers

    What is the consequence of breaching a banning order?

    <p>All of the above</p> Signup and view all the answers

    What is the minimum duration of a banning order?

    <p>12 months</p> Signup and view all the answers

    What type of fees can agents NOT charge potential tenants for?

    <p>Facilitating lease agreements</p> Signup and view all the answers

    What is the minimum notice period required for possession under the Housing Act 1988?

    <p>Four weeks</p> Signup and view all the answers

    Under Section 11 of the Accommodation Agencies Act 1953, what are agents prohibited from charging potential tenants for?

    <p>Property registrations</p> Signup and view all the answers

    What is the duration of a banning order as per legislation?

    <p>12 months</p> Signup and view all the answers

    What is the penalty charge that landlords or letting agents can face for breach of a banning order?

    <p>Up to £30,000</p> Signup and view all the answers

    How long do landlords or property agents have to appeal to a First-tier Tribunal (FTT) against notices relating to banning orders?

    <p>21 days</p> Signup and view all the answers

    For which offenses can tenants or LHAs apply to an FTT for a rent repayment order (RRO) since April 2017?

    <p>Various offenses committed by landlords or property agents</p> Signup and view all the answers

    What is the cooling-off period for letting agency contracts signed at the market appraisal away from the agent's office since June 13, 2014?

    <p>14 days</p> Signup and view all the answers

    What does Section 21 notice (Form 6A) require as a minimum notice period for an AST?

    <p>Two months</p> Signup and view all the answers

    What is the maximum amount landlords or property agents can be fined for prosecution and imprisonment in case of breach of a banning order?

    <p>$30,000</p> Signup and view all the answers

    What is the maximum penalty charge for breach of the regulations regarding belonging to a client money protection scheme?

    <p>£5,000</p> Signup and view all the answers

    Under the Tenant Fees Act 2019, what is the maximum security deposit allowed if the rent is £50,000 per annum or more?

    <p>Six weeks' rent</p> Signup and view all the answers

    What is the main difference between an assured tenancy and an assured shorthold tenancy (AST)?

    <p>Notice period for possession by landlord</p> Signup and view all the answers

    What type of fees can agents NOT charge potential tenants for?

    <p>Right to Rent checks</p> Signup and view all the answers

    When can a landlord serve a Section 13 notice to increase the rent?

    <p>At any time during a periodic tenancy with a minimum notice period</p> Signup and view all the answers

    From when was stamp duty land tax (SDLT) introduced?

    <p>1 December 2003</p> Signup and view all the answers

    What is the SDLT surcharge percentage that landlords buying second properties need to pay?

    <p>3%</p> Signup and view all the answers

    For which properties do higher value companies have to pay an annual tax on enveloped dwellings (ATED)?

    <p>Properties valued over £1 million owned by companies</p> Signup and view all the answers

    How is the stamp duty land tax (SDLT) calculated for periodic tenancies?

    <p>Using the net present value (NPV) of the rents payable</p> Signup and view all the answers

    Which of the following activities must general insurance agents be authorized to carry out?

    <p>Enter into an insurance contract on someone's behalf</p> Signup and view all the answers

    What are the different levels of service that agents can offer to their customers?

    <p>Principal firm appointed representative, introducer appointed representative, and non-regulated introducer</p> Signup and view all the answers

    In emergency situations, what insurance activities can an agent carry out?

    <p>Carry out certain insurance activities which are not regulated</p> Signup and view all the answers

    The FCA regulates the Consumer Credit Act 1974. What is required for dealing with consumer credit matters according to the text?

    <p>Authorization from the FCA</p> Signup and view all the answers

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