Test 16: Rental Property Regulations Test 16: Rental Property Regulations – 10 Questions 1. Which of the following is NOT required in a tenant fee disclosure form? The amount of the fee When and how the fee is earned When the notice was given The maximum rent the prospective tenant is willing to pay The maximum rent the tenant is willing to pay A notice of fee must include the amount of the fee, how and when the fee is to be paid, and whether the tenant will pay any portion of the fee if the tenant does not rent the property. The notice must be signed by the licensee and the prospective tenant and show the date the notice was given to the prospective tenant. The maximum amount of rent the prospective tenant is willing to pay is not required. 2. For how long must a tenant fee disclosure form be retained? One year Two years Three years Five years Five years A notice of tenant fee disclosure must be retained for five years. 3. When must a landlord provide to a tenant a written notice of the current condition of the dwelling? upon receipt of a deposit or within 5 days of the beginning of the rental term upon receipt of a deposit or within 10 days of the beginning of the rental term upon receipt of a deposit or within 15 days of the beginning of the rental term upon receipt of a deposit or within 30 days of the beginning of the rental term upon receipt of a deposit or within 10 days of the beginning of the rental term A notice of the current condition of the rental protects the renter from being charged for preexisting conditions. It must be delivered upon receipt of a deposit or within 10 days of the beginning of the rental term. 4. For residential property built before 1978 a landlord must give which state form to the tenant? Asbestos Warning Form Tenant Lead Law Notification The Dangers of Urea Formaldehyde Foam Insulation Protect Yourself from Radon Tenant Lead Law Notification In residential property built before 1978 the tenant must be given the Tenant Lead Law Notification. If the other items pose known risks they must be disclosed, but there isn’t a specific state form. 5. Property owners are exempt from security deposit rules when renting property for vacation or recreational purposes for 180 days or less. 120 days or less. 100 days or less. 90 days or less. 100 days or less. Some short term rentals are not subject to all of the usual residential rental rules. Property owners who rent property for vacation or recreational purposes for 100 days are exempt from security deposit rules. 6. A landlord may not charge a late fee unless the rent payment is 10 days late. 15 days late. 20 days late. 30 days late. 30 days late. A landlord must wait until a rent payment is 30 days late before charging a late fee. However, eviction proceedings can begin immediately. 7. To begin the eviction process for rent nonpayment, the landlord must provide the tenant with a 7-day notice. 30-day notice. 14-day notice. 24-day notice. 14-day notice. To evict for non-payment of rent a 14-day notice is required. 8. How much can a renter of a primary residence in Massachusetts deduct from his/her income for taxes? 25% of the rental payment up to $1,500 50% of the rental payment up to $3,000 75% of the rental payment up to $1,500 75% of the rental payment up to $1,500 50% of the rental payment up to $3,000 Renters of a primary residence in Massachusetts are entitled to an income tax deduction from their adjusted gross income equal to 50% of rent paid to the landlord with a maximum deduction of $3,000. Of course, the person claiming the deduction must be an Massachusetts taxpayer. 9. A rental deposit may NOT be used for which of the following? First month’s rent Last month’s rent Application fee Pet deposit Pet deposit A rental deposit may not be used to secure payment for damages to the unit. 10. Under what circumstances may a residential landlord enter a tenant’s dwelling? To make repairs or show the dwelling to a prospective tenant or buyer To make repairs or search for illegal drugs To make a routine safety inspection To seize personal property for payment of overdue rent To make repairs or show the dwelling to a prospective tenant or buyer A residential landlord may enter a tenant’s dwelling to make repairs or show the dwelling to a prospective tenant or buyer. In addition, the landlord may, enter if he or she has a court order allowing entrance, if the dwelling appears to be abandoned by the tenant, or if the landlord needs to inspect the dwelling for damages prior to the tenant vacating at the termination of the lease term. Loading …
