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Chapter 16 Leases

Chapter 16 Leases. Rental units come in all shapes and sizes, from single-family homes to multistory high-rises that contain hundreds of units. This block of historic apartment buildings is another type of rental property. 16 Leases. Learning objectives

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Chapter 16 Leases

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  1. Chapter 16Leases Rental units come in all shapes and sizes, from single-family homes to multistory high-rises that contain hundreds of units. This block of historic apartment buildings is another type of rental property.

  2. 16 Leases • Learning objectives • Identify the four types of leasehold estates • Describe the requirements and general conditions of a valid lease and how a lease may be discharged • Explain the rights of landlords and tenants in an eviction proceeding and the effect of protenant legislation and civil rights laws on the landlord-tenant relationship • Distinguish the various types of leases

  3. 17 Leases • Leasehold estates • Estate for years • Estate from period to period (periodic tenancy) • Estate at will • Estate at sufferance

  4. 16 Leases

  5. 16 Leases • Requirements of a valid lease • Offer and acceptance • Consideration • Capacity to contract • Legal objectives • In Georgia, the previous four requirements plus • Legal description • In writing if term is longer than one year

  6. 16 Leases • Lease agreements • Possession of premises • Actual possession • Right of possession (Georgia) • Use of premises • Term • Security deposit • In Georgia, the tenant must be given in writing: escrow account number and the location of the bank, or the landlord can post a surety bond

  7. 16 Leases • Lease agreements • Improvements • Accessibility and Americans with Disabilities Act (ADA) access • Maintenance of premise • Destruction of premises • Assignment and subleasing • Recording a lease • Nondisturbance clause • Options

  8. 16 Leases • Types of leases • Gross lease • Net lease • Percentage lease • Variable lease • Ground lease • Oil and gas lease • Lease purchase • Sale and leaseback

  9. 16 Leases • Discharge of leases • Breach • Suit for possession: actual eviction • In Georgia, a dispossession proceeding • Tenants’ remedies: constructive eviction • Pro-tenant legislation

  10. 16 Leases • Fair housing and civil rights laws • Affect landlords and tenants • Cannot discriminate against protected classes

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