Key Elements of Lease Agreements Quiz

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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?

Implied right known as quiet enjoyment Signup and view all the answers

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

Deed creation Signup and view all the answers

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

They are difficult to prove in case of disputes Signup and view all the answers

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

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

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

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

Under what circumstances can rents be challenged at the FTT?

Under some circumstances Signup and view all the answers

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

Four weeks' notice Signup and view all the answers

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

Written notice and proving of all discretionary cases Signup and view all the answers

When can a landlord use an accelerated possession procedure?

When seeking possession of an AST Signup and view all the answers

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

Fixed period tenancies need a notice to quit served to end them, while periodic tenancies end by effluxion of time 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?

Assured Shorthold Tenancy (AST) 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?

Section 8 notice 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?

Two months' notice Signup and view all the answers

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

Rent review clause Signup and view all the answers

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

Four weeks Signup and view all the answers

Under what circumstances can a landlord lawfully regain possession?

If the tenant surrenders the tenancy or the landlord gets a court order for possession 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?

14 days Signup and view all the answers

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

£30,000 Signup and view all the answers

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

Rent repayment order (RRO) Signup and view all the answers

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

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

What is the consequence of breaching a banning order?

All of the above Signup and view all the answers

What is the minimum duration of a banning order?

12 months Signup and view all the answers

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

Facilitating lease agreements Signup and view all the answers

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

Four weeks Signup and view all the answers

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

Property registrations Signup and view all the answers

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

12 months Signup and view all the answers

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

Up to £30,000 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?

21 days 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?

Various offenses committed by landlords or property agents 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?

14 days Signup and view all the answers

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

Two months 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?

$30,000 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?

£5,000 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?

Six weeks' rent Signup and view all the answers

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

Notice period for possession by landlord Signup and view all the answers

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

Right to Rent checks Signup and view all the answers

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

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

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

1 December 2003 Signup and view all the answers

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

3% Signup and view all the answers

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

Properties valued over £1 million owned by companies Signup and view all the answers

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

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

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

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

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

Principal firm appointed representative, introducer appointed representative, and non-regulated introducer Signup and view all the answers

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

Carry out certain insurance activities which are not regulated 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?

Authorization from the FCA Signup and view all the answers

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?

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

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

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

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

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

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

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

Under what circumstances can rents be challenged at the FTT?

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

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

When can a landlord use an accelerated possession procedure?

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

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

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?

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

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

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

Under what circumstances can a landlord lawfully regain possession?

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

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

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

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

What is the consequence of breaching a banning order?

What is the minimum duration of a banning order?

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

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

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

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

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

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

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

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?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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