Property Management: Lease End Procedures

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Questions and Answers

A property condition report helps determine any damages compared to the conditions at the beginning and the end of the ______.

lease

Normal wear and tear refers to the expected ______ of a property over time.

deterioration

A landlord is responsible for ensuring the property is safe and ______.

habitable

Building insurance covers the physical structure and common areas while PNO insurance covers the owner's ______.

liability Signup and view all the answers

If a tenant disputes a deduction, the property manager should check the condition report and ______ clearly with the tenant.

communicate Signup and view all the answers

Match the following terms with their correct definitions:

Property condition report = Document outlining the state of a rental property at lease end Normal wear and tear = Expected deterioration that does not justify security deposit deductions Landlord responsibilities = Ensuring property meets health and safety standards Building insurance = Covers the physical structure and common areas of a property Signup and view all the answers

Match the terms with their examples:

Normal wear and tear = Fading paint Security deposit deduction = Repair costs for damages beyond normal wear Property manager response = Comparing current condition to the condition report POI policy = Liability coverage for vacant property risks Signup and view all the answers

Match these actions with their appropriate context:

When tenants dispute deductions = Communicate transparently with them Purpose of a property condition report = To justify security deposit deductions Types of property insurance = Building insurance versus PNO insurance Examples of landlord obligations = Structural repairs and plumbing maintenance Signup and view all the answers

Match the responsibilities with the correct parties:

Tenant = Responsible for understanding lease terms Landlord = Responsible for property maintenance and safety Property manager = Ensures clear communication regarding deposits Mediator = Involved when disputes cannot be resolved Signup and view all the answers

Match the key concepts to their descriptions:

Building insurance = Protects physical structures from risks Normal wear and tear = Refers to expected property deterioration Messages to tenants = Should be transparent and clear when disputes arise Key landlord responsibilities = Maintaining safe and habitable living conditions Signup and view all the answers

Flashcards

Property Condition Report Purpose

Documents property condition at lease start and end to justify security deposit deductions for damages.

Normal Wear and Tear

Expected deterioration of a property over time not justifying security deposit deduction (e.g., fading paint, minor carpet wear).

Tenant Security Deposit Dispute

Tenant disagreement over security deposit deductions. Landlord must justify deductions, communicate transparently, and possibly involve a mediator or legal action.

Landlord Property Maintenance

Landlord responsibility for property safety, habitability, and meeting health/safety standards (structural, electrical, plumbing).