Podcast
Questions and Answers
What is the timeframe for landlords to transfer security deposits to new owners when selling a property?
What is the timeframe for landlords to transfer security deposits to new owners when selling a property?
- 60 days after tenancy termination
- 30 days after tenancy termination
- 45 days after tenancy termination (correct)
- 90 days after tenancy termination
In what circumstances can a landlord dispose of personal property left behind by a tenant?
In what circumstances can a landlord dispose of personal property left behind by a tenant?
- After 60 days
- After 30 days (correct)
- Immediately
- After 15 days
What must a tenant do if they wish to terminate a tenancy at will?
What must a tenant do if they wish to terminate a tenancy at will?
- Provide a 3-month written notice
- Provide a 15-day written notice
- Provide a 5-day written notice
- Provide a 30-day written notice (correct)
When must a landlord provide notice to tenants for failure to pay rent on time?
When must a landlord provide notice to tenants for failure to pay rent on time?
Under what circumstances can a landlord evict a tenant without providing a notice to vacate?
Under what circumstances can a landlord evict a tenant without providing a notice to vacate?
What is the curative period given to tenants after receiving a notice for lease violations?
What is the curative period given to tenants after receiving a notice for lease violations?
What type of evictions are prohibited under the law?
What type of evictions are prohibited under the law?
In the context of lease termination, what is required of active military members?
In the context of lease termination, what is required of active military members?
What is the timeframe for a tenant to vacate premises if a violation is not cured within the curative period?
What is the timeframe for a tenant to vacate premises if a violation is not cured within the curative period?
What must landlords do before transferring security deposits over to new owners?
What must landlords do before transferring security deposits over to new owners?
Who is exempt from licensure as property managers according to the text?
Who is exempt from licensure as property managers according to the text?
In a lease transaction where a broker represents both landlord and tenant, what is mandatory according to the text?
In a lease transaction where a broker represents both landlord and tenant, what is mandatory according to the text?
Under the Residential Landlord-Tenant Act, how much notice must a landlord provide to terminate a month-to-month tenancy?
Under the Residential Landlord-Tenant Act, how much notice must a landlord provide to terminate a month-to-month tenancy?
What defines a dwelling unit according to the text?
What defines a dwelling unit according to the text?
What is the requirement for brokers regarding trust accounts and security deposits?
What is the requirement for brokers regarding trust accounts and security deposits?
Under what circumstance can brokers interplead funds according to the text?
Under what circumstance can brokers interplead funds according to the text?
'Commingling' as mentioned in the text refers to what practice?
'Commingling' as mentioned in the text refers to what practice?
'Week-to-week tenant' is the default status for which type of tenant according to the text?
'Week-to-week tenant' is the default status for which type of tenant according to the text?
'Exclusions' in a Property Management Contract do NOT typically include which of the following?
'Exclusions' in a Property Management Contract do NOT typically include which of the following?
'Resident managers working for owners/brokers where properties include apartment buildings' are exempt from licensure if they do what according to the text?
'Resident managers working for owners/brokers where properties include apartment buildings' are exempt from licensure if they do what according to the text?
What must brokers do before any tenant signs a lease?
What must brokers do before any tenant signs a lease?
Which of the following is NOT a duty of brokers during transactions?
Which of the following is NOT a duty of brokers during transactions?
What is a responsibility of brokers regarding offers and counteroffers?
What is a responsibility of brokers regarding offers and counteroffers?
What is one of the requirements for brokers when receiving offers and counteroffers?
What is one of the requirements for brokers when receiving offers and counteroffers?
What should brokers do with confidential information according to the text?
What should brokers do with confidential information according to the text?
What is an example of confidential information that brokers should maintain?
What is an example of confidential information that brokers should maintain?
How should brokers handle costs associated with presented offers?
How should brokers handle costs associated with presented offers?
What is an obligation of brokers regarding clients during proceedings?
What is an obligation of brokers regarding clients during proceedings?
Who is exempt from licensure as property managers according to the text?
Who is exempt from licensure as property managers according to the text?
What does a landlord have to give to terminate a month-to-month tenancy under the Residential Landlord-Tenant Act?
What does a landlord have to give to terminate a month-to-month tenancy under the Residential Landlord-Tenant Act?
What is the default tenancy status for a roomer or boarder according to the text?
What is the default tenancy status for a roomer or boarder according to the text?
What is the main purpose of the Property Management Contract mentioned in the text?
What is the main purpose of the Property Management Contract mentioned in the text?
What should brokers do with confidential information according to the text?
What should brokers do with confidential information according to the text?
What type of eviction can result in charging the tenant twice the monthly rental rate?
What type of eviction can result in charging the tenant twice the monthly rental rate?
Which group is NOT exempt from licensure as property managers based on the information provided?
Which group is NOT exempt from licensure as property managers based on the information provided?
What should landlords do before transferring security deposits over to new owners?
What should landlords do before transferring security deposits over to new owners?
What is one of the obligations of brokers regarding offers and counteroffers?
What is one of the obligations of brokers regarding offers and counteroffers?
What is a key requirement for brokers when handling money and property?
What is a key requirement for brokers when handling money and property?
What must brokers do with confidential information from parties involved in transactions?
What must brokers do with confidential information from parties involved in transactions?
When should brokers notify parties of costs associated with offers presented during transactions?
When should brokers notify parties of costs associated with offers presented during transactions?
What is a critical requirement for brokers regarding the timing of presenting offers and counteroffers?
What is a critical requirement for brokers regarding the timing of presenting offers and counteroffers?
What must brokers do before any tenant signs a lease according to the text?
What must brokers do before any tenant signs a lease according to the text?
What is a critical aspect of brokers' handling of offers and counteroffers in transactions?
What is a critical aspect of brokers' handling of offers and counteroffers in transactions?
How should brokers treat all parties involved in transactions?
How should brokers treat all parties involved in transactions?
What is the timeframe required for a tenant to provide a written notice for termination of a month-to-month tenancy?
What is the timeframe required for a tenant to provide a written notice for termination of a month-to-month tenancy?
When selling a property, what must landlords do with security deposits in regard to new owners?
When selling a property, what must landlords do with security deposits in regard to new owners?
What is the curative period tenants are given after receiving a notice for lease violations?
What is the curative period tenants are given after receiving a notice for lease violations?
What does 'self-eviction' refer to according to the text?
What does 'self-eviction' refer to according to the text?
In what circumstance can a landlord dispose of personal property left behind by a tenant?
In what circumstance can a landlord dispose of personal property left behind by a tenant?
When is a landlord required to provide a 5-day notice to tenants according to the text?
When is a landlord required to provide a 5-day notice to tenants according to the text?
What is considered an early termination justification according to the text?
What is considered an early termination justification according to the text?
What must landlords do if they suspect illegal acts that threaten safety or health according to the text?
What must landlords do if they suspect illegal acts that threaten safety or health according to the text?
What is one responsibility of landlords regarding tenants' possessions if they are evicted from premises?
What is one responsibility of landlords regarding tenants' possessions if they are evicted from premises?
What must landlords do within 45 days after tenancy termination based on tenants' written demands?
What must landlords do within 45 days after tenancy termination based on tenants' written demands?
What is the timeframe required for a tenant to provide a written notice for termination of an annual lease?
What is the timeframe required for a tenant to provide a written notice for termination of an annual lease?
If a tenant abandons or is evicted from the premises, what right does the landlord have regarding the tenant's personal property?
If a tenant abandons or is evicted from the premises, what right does the landlord have regarding the tenant's personal property?
What is the timeframe landlords must adhere to when transferring security deposits to new owners upon selling a property?
What is the timeframe landlords must adhere to when transferring security deposits to new owners upon selling a property?
In what circumstance can a landlord dispose of personal property left behind by a tenant according to the text?
In what circumstance can a landlord dispose of personal property left behind by a tenant according to the text?
When must a landlord provide a 5-day notice to tenants according to the text?
When must a landlord provide a 5-day notice to tenants according to the text?
What type of property managers are required to be licensed real estate brokers, owners, or their salaried employees?
What type of property managers are required to be licensed real estate brokers, owners, or their salaried employees?
Under the Brokerage Relationship Act, what must a broker disclose in writing when performing duties for both landlord and tenant?
Under the Brokerage Relationship Act, what must a broker disclose in writing when performing duties for both landlord and tenant?
Which type of tenant is considered a week-to-week tenant by default under the Residential Landlord-Tenant Act?
Which type of tenant is considered a week-to-week tenant by default under the Residential Landlord-Tenant Act?
What is the primary purpose of the Property Management Contract mentioned in the text?
What is the primary purpose of the Property Management Contract mentioned in the text?
What term best describes a dwelling unit according to the text?
What term best describes a dwelling unit according to the text?
What is the default tenancy status for all tenants except roomers or boarders under the Residential Landlord-Tenant Act?
What is the default tenancy status for all tenants except roomers or boarders under the Residential Landlord-Tenant Act?
What is one key requirement regarding trust accounts and security deposits for brokers according to the text?
What is one key requirement regarding trust accounts and security deposits for brokers according to the text?
What is one critical requirement for brokers when handling offers and counteroffers in transactions?
What is one critical requirement for brokers when handling offers and counteroffers in transactions?
In what way should brokers treat all parties involved in transactions?
In what way should brokers treat all parties involved in transactions?
What is an important aspect of maintaining confidentiality for brokers?
What is an important aspect of maintaining confidentiality for brokers?
What is a key responsibility of brokers regarding the disclosure of costs associated with offers?
What is a key responsibility of brokers regarding the disclosure of costs associated with offers?
What action must brokers take with confidential information from parties involved in transactions?
What action must brokers take with confidential information from parties involved in transactions?
What should brokers do before any tenant signs a lease?
What should brokers do before any tenant signs a lease?
Under what circumstances can a landlord dispose of personal property left behind by a tenant?
Under what circumstances can a landlord dispose of personal property left behind by a tenant?
What is a requirement for brokers when receiving offers and counteroffers?
What is a requirement for brokers when receiving offers and counteroffers?
What must brokers do with confidential information according to the text?
What must brokers do with confidential information according to the text?
What is a critical requirement for landlords regarding tenants' possessions if they are evicted from premises?
What is a critical requirement for landlords regarding tenants' possessions if they are evicted from premises?
Study Notes
Security Deposits
- Landlords must transfer security deposits to new owners within a certain timeframe when selling a property.
- Before transferring security deposits, landlords must provide an accounting of the deposit and any deductions.
Terminating Tenancy
- A tenant must give a written notice to terminate a tenancy at will.
- A landlord must provide 30 days' notice to terminate a month-to-month tenancy under the Residential Landlord-Tenant Act.
Eviction
- A landlord can evict a tenant without providing a notice to vacate in certain circumstances, such as non-payment of rent.
- The curative period given to tenants after receiving a notice for lease violations is a certain timeframe to cure the violation.
- If a tenant fails to cure the violation, they must vacate the premises within a certain timeframe.
Lease Violations
- A landlord can dispose of personal property left behind by a tenant in certain circumstances.
- A landlord must provide a 5-day notice to tenants for failure to pay rent on time.
Military Members
- Active military members have certain requirements under the Residential Landlord-Tenant Act.
Property Management
- Certain individuals are exempt from licensure as property managers, such as resident managers working for owners/brokers where properties include apartment buildings.
- The main purpose of the Property Management Contract is to outline the responsibilities of the property manager.
Brokers
- Brokers have certain duties and obligations, such as maintaining confidentiality and disclosing costs associated with offers.
- Brokers must treat all parties involved in transactions fairly and honestly.
- Brokers must not engage in commingling, which is the practice of mixing client funds with their own.
- Brokers must provide a written disclosure to clients when performing duties for both landlord and tenant.
Lease Transactions
- In a lease transaction where a broker represents both landlord and tenant, certain disclosures are mandatory.
- A broker must receive written consent from both parties before proceeding with the transaction.
Dwelling Units
- A dwelling unit is defined as a certain type of property.
Trust Accounts
- Brokers have certain requirements regarding trust accounts and security deposits.
Offers and Counteroffers
- Brokers have certain obligations when handling offers and counteroffers in transactions.
- Brokers must present offers and counteroffers in a timely manner.
- Brokers must disclose costs associated with offers and counteroffers.
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Description
Learn about the licensing requirements for property managers and management companies in Oklahoma, including broker duties such as disclosure requirements, honesty, and skill obligations. Test your knowledge on property management regulations.
