The Landlord Test - #1

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Answer the following multiple choice test questions and find out.

1. The most important thing to consider when qualifying a potential tenant is:

a) his credit and verified references
b) his car
c) his personal appearance
d) your gut feeling

2. "Tenancy in common" refers to:

a) a lease that allows roommates
b) service of process pertaining to tenants
c) ownership
d) multi-unit rental properties

3. A late charge can only apply if:

a) the tenant is more than 10 days late after the standard grace period
b) you are mad as hell and demand late charges
c) the lease contains a provision covering you for late charges
d) the landlord can show he has incurred bounce check bank charges

4. The purpose of the tenant's security deposit is:

a) to show good faith
b) to cover the last month's rent
c) to gain interest for the landlord
d) to secure the tenant's performance and cover damages

5. Select the phrase you should avoid when encountering one of your tenants.

a) "Nice weather we're having."
b) "Have a great day!"
c) "How's everything?"
d) "Nice seeing you."

6. The only good tenant is a:

a) clean tenant
b) handy tenant
c) paying tenant
d) all of the above

7. To be enforceable, a lease must be:

a) yearly
b) monthly
c) in writing
d) for at least 1 year

8. The accomplished Landlord would agree that rent should be collected in the following fashion:

a) meeting the tenant monthly to pick up the rent in person
b) having the tenant deliver the rent to the landlord at his home
c) giving the tenant a supply of deposit slips with the landlord's account # for direct deposit by the tenant, saving the landlord the trouble of having to deposit the rent himself
d) Supplying the tenant with a payment coupon book and pre-addressed envelopes to be sent to the landlord's P.O. box each month on time.

9. A tenant's welcome package should contain the following necessary information:

a) safety information concerning the premises along with phone #s to the utility companies
b) the landlord's home address
c) the landlord's home phone #
d) the landlord's bank account # for direct rent deposits

10. To be binding, a lease must be signed by the

a) broker
b) property manager
c) lessee and the broker
d) lessor and lessee

Answer the following questions by choosing True or False.

11. Landlords must screen and qualify every prospect themselves. True or False

12. It is illegal for a landlord to obtain a credit report on a tenant without the tenant's written consent. True or False

13. The landlord may charge any size late fee he wants in his lease. True or False

14. If the tenant holds back rent for repairs, he may be evicted. True or False

15. The landlord must show his rental to every customer interested. True or False

Answers can be found at the bottom of this page.

Scoring:

• 13-15 = professional Landlord
• 10-12 = experienced landlord
• 7-9 = about to become a sharp landlord
• 5-7 = need to read some landlord books
• 0-5 = We hope you are not currently a landlord, but if you are, you came to the right web site. You can gain the knowledge you need through our Q & A forum and by checking out the books we recommend.

LANDLORD TEST ANSWERS

• 1. A
• 2. C
• 3. C
• 4. D
• 5. C
• 6. D
• 7. C
• 8. D
• 9. A
• 10. D
• 11. F
• 12. T
• 13. F (Only if the tenant agrees in writing and the state does not impose any limitations)
• 14. T
• 15. F

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