Real Estate Law & Regulations Flashcards
7 cards from real CRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Real Estate Law & Regulations flashcards as text
A property manager screens applicants using a blanket policy that automatically rejects anyone with any criminal record. This policy may violate fair housing law because:
Answer: It may have a disparate impact on racial minorities
HUD guidance indicates that blanket criminal history bans may have a disparate impact on protected classes, particularly racial minorities, and could violate the FHA.
Under RESPA (Real Estate Settlement Procedures Act), which practice is prohibited?
Answer: Accepting kickbacks for referring settlement services
RESPA prohibits kickbacks, fee-splitting, and referral fees between settlement service providers that are not for services actually performed.
What is the maximum security deposit typically allowed under state law for an unfurnished residential unit in many U.S. states?
Answer: There is no federal cap on security deposits
Security deposit limits are set by individual states, not federal law; there is no federal cap, and limits vary widely by state.
A tenant who signs a month-to-month lease is generally entitled to how much notice before the landlord terminates the tenancy?
Answer: 30 days
Most states require 30 days' written notice to terminate a month-to-month tenancy, though some require longer periods for longer-tenured tenants.
Which of the following best describes an 'estoppel certificate' in property management?
Answer: A tenant's written confirmation of lease terms and current status
An estoppel certificate is a document signed by a tenant confirming the current terms of their lease, rent amount, and any known claims against the landlord.
The Uniform Residential Landlord and Tenant Act (URLTA) is significant because it:
Answer: Provides a model framework many states have adopted for landlord-tenant law
The URLTA is a model act developed to standardize landlord-tenant law, and many U.S. states have adopted it in whole or in part.
Under the Fair Debt Collection Practices Act (FDCPA), which action by a third-party rent collector is prohibited?
Answer: Threatening legal action without intent to sue
The FDCPA prohibits debt collectors from making false threats of legal action they do not intend to take or are not authorized to take.