CITE THIS READING MATERIAL AS: first tuesday Landlords, Tenants and Property Management Eighth Edition
Table of Contents i Table of...iv Introduction...vi Glossary...441 Table of Contents Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Fee vs. leasehold A matter of possession... 1 The tenancies in real estate Know your tenancy or lose time...9 Landlord s right to enter Conflict with occupant s right to privacy...21 Tenant leasehold improvements Ownership rights when a tenant vacates...37 Options and the right of first refusal to buy Tenants with rights to acquire the premises...51 Ownership and Possession Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Property management licensing When is a CalBRE license required?...61 Property management agreement Authority to operate a rental property...69 A property manager s responsibilities An evolving standard of conduct... 77 Resident managers Employees: not independent contractors, not tenants... 95 Identification of property manager or owner Notice to tenant of agent-for-service...107 Exclusive authorization to lease Leasing agent s bargain for fees...........................113 Exclusive authorization to locate space A leasing agent and the nonresidential tenant...123 Cost of operating in leased space Disclosures by leasing agents...133 Agency and Property Management
ii Landlords, Tenants and Property Management, Eighth Edition Deposits and Rents Chapter 14 Chapter 15 Chapter 16 Chapter 17 Security deposits and pre-expiration inspections Cover for a tenant s nonperformance...141 Residential turnover cost recovery Rent is set to include all operating expenses...155 Accepting partial rent Residential and nonresidential landlord rights...163 Changing terms on a month-to-month tenancy Landlord s notice to tenant...171 Enforcing Rents; Forfeiting Tenancies Chapter 18 Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Forfeiture of the lease Lease agreement obligations survive...179 Surrender cancels the lease agreement Lost ability to recover future rents...191 Delinquent rent and the three-day notice Pay or forfeit your right of possession...201 Three-day notices to quit for nonmonetary breaches Curable and incurable nonmonetary breaches...213 Other amounts due under three-day notices Know what the judge will allow...231 Notices to vacate Termination of periodic tenancies......................... 241 Personal property recovered by tenant Reclaim it on notice or lose it...255 Constructive eviction cancels the lease Interference forces the tenant to vacate...267 Maintenance and Security Chapter 26 Chapter 27 Chapter 28 Chapter 29 Care and maintenance of property Tenant obligations and remedies...277 Implied warranty of habitability Safe and sanitary living conditions...289 Security to prevent crimes Protective measures and warnings...303 Dangerous on-site and off-site activities Duty to all to remove on-site dangers...309
Table of Contents iii Chapter 30 Chapter 31 Chapter 32 Chapter 33 Chapter 34 Nonresidential lease agreements The conveyance of a leasehold...321 Rent provisions in nonresidential leases Setting the rent...341 Adjustable rent provisions Economic goals of nonresidential landlords...349 Nonresidential use-maintenance provisions Shifting ownership obligations to tenants...359 Lease assignments and subleases Consent conditioned on exactions...373 Nonresidential Lease Provisions Chapter 35 Chapter 36 Chapter 37 Residential rental and lease agreements A review of periodic vs. fixed-term tenancies...385 Civil rights and fair housing laws Property rights and an individual s status...395 Residential rent control Police power and rent control...411 Residential Leases and Rental Agreements Chapter 38 Chapter 39 Attornment clauses in nonresidential leases Altering priorities for lenders...419 Due-on leasing regulations Rising interest rates bring lender interference...433 Lender Considerations
iv Landlords, Tenants and Property Management, Eighth Edition Table of Full-size, fillable copies of all 350+ first tuesday forms can be found in the -on-cd accompanying this course. Full No. Form Name Page 111 Exclusive Authorization to Locate Space... 127 113 Schedule of Leasing Agent s Fee... 332 116 Right to Enter and Exhibit Unit to Buyers For Residential and Nonresidential Rentals...26 116-1 Notice to Occupant of Entry and Completion of Showing For Residential and Nonresidential Rentals...27 161 Standard Option to Purchase Irrevocable Right-to-Buy...54 552 Nonresidential Lease Agreement Addendum Alienation of Leasehold... 383 554 Change of Owner of Property Manager Addendum to Rental or Lease Agreement... 110 558 Partial Payment Agreement Nonresidential... 165 559 Partial Payment Agreement Residential... 168 560 Condition of Premises Addendum... 278 561 Condition of Furnishings Addendum And Inventory... 280 562 Tenant s Property Operating Expense Profile... 136 567 Notice of Intent to Enter Dwelling...25 567-1 Notice of Right to Request a Joint Pre-Expiration Inspection... 146 567-3 Statement of Deficiencies on Joint Pre-Expiration Inspection... 148 569 30-Day Notice to Vacate For Use by Residential Landlord... 243 569-1 60-Day Notice to Vacate For Use by Residential Landlord... 244 570 30-Day Notice of Change in Rental Terms... 173 572 30-Day Notice to Vacate From Tenant... 174 573 90-Day Notice to Quit Due to Foreclosure To Holdover Residential Tenant... 252 575 Three-Day Notice to Pay Rent or Quit With Rent-Related Fees... 203
Table of v No. Form Name Page 575-1 Three-Day Notice to Pay Rent or Quit Without Rent-Related Fees... 235 576 Three-Day Notice to Perform or Quit... 215 577 Three-Day Notice to Quit Residential and Nonresidential... 217 579 Right of First Refusal to Buy Addendum...57 580 Proof of Service For Service of Notice to Real Estate Tenants... 225 582 Notice to Landlord to Surrender Personal Property For Use by Residential Tenants Only... 259 582-1 Costs Payable to Reclaim Personal Property... 265 584 Notice of Right to Reclaim Personal Property To Residential Tenant After Termination of Tenancy... 257 584-1 Notice of Right to Reclaim Personal Property To Others with an Interest in Property... 261 585 Security Deposit Disposition On Vacating Residential Premises... 150 587 Termination of Lease and Surrender Agreement... 194 591 Resident Manager Agreement...98 597 Notice of Nonresponsibility From Landlord (Calif.Civil Code 3094)...47 110 Exclusive Authorization to Lease Property... 115 135 Request for Homeowner Association Documents...74 163 Lease-Option Contract for Deed...59 185 Letter of Intent... 137 352 Annual Property Operating Data Sheet (APOD)... 161 436-1 UCC-1 Financing Statement...48 550 Residential Lease Agreement... 387 552 Nonresidential Lease Agreement Single Tenant Gross...6, 323,. 346, 350, 351, 361-363, 368-370, 374, 382, 429 552-4 Nonresidential Lease Agreement Percentage Lease... 355 552-8 Lender Subordination and Attornment Provisions... 421, 427 590 Property Management Agreement...71 Partial
CITE THIS READING MATERIAL AS: Realty Publications, Inc. Office Management and Supervision First Edition
Table of Contents i Related...ii Glossary... 79 Table of Contents Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Brokerage activities: agent of the agent Introduction to agency... 1 Creation of office policies, rules and systems for review Setting standards for recruiting agents... 15 Review of agent activities, records, funds and reports Tracking transactions handled by a broker s agents...31 Federal and state prohibited discriminatory practices Property rights cannot be based on status...49 Marketing and advertising Choose your brand... 57 For FREE, customizable marketing materials, go to realtypublications.com/farm Appointment and supervision of an office manager The supervisory role of an office manager.... 67 Office Management and Supervision For a full-size, fillable copy of this or any other form in this book that may be legally used in your professional practice, go to realtypublications.com/forms. Table of No. Form Name Page 115 Finder s Fee Agreement......................................... 28 504 Agent Income Data Sheet....................................... 18 507 Assistant Employment Agreement............................. 25 510 Office Manager Employment Agreement...................... 70 522 Listing Information Report..................................... 33 Full 505 Broker-Agent Employee Agreement..............................7 506 Independent Contractor Employment Agreement...............9 520 File Activity Sheet.............................................. 37 521 Transaction Coordination Sheet (Seller s Agent)................ 38 Partial
ii Office Management and Supervision, First Edition Related Office Management No. Form Name 119 Compensation Disclosure In A Real Estate Transaction 119-1 Disclosure Of Mortgage Loan Broker Fees 121 Release And Cancellation Of Employment Agreement 201 Stack Sheet Loan Origination and Transmittal 205 Affiliated Business Arrangement Disclosure Statement 233 Loan Transmittal Summary Preliminary Submission to Lender 500 Agent Interview Sheet 501 Agent Identification And Contact Information 502 Agent Itinerary And Schedule 508 Office Agents Licensing Record 511 Designated Officer Employment Agreement 519 Affiliated Business Arrangement Disclosure Statement 521-1 Transaction Coordination Sheet (Buyer s Agent) Prospective Purchase Through COE 521-2 Transmittal And Request Memo Transaction Coordination 522-1 Expired Listing Report Or by Cancellation 523 Property Sold Report Administrative and Fee Information 523-1 Transmittal And Stack Sheet On Sale For Administrative File Review 524 Disbursement Of Brokerage Fees Broker Instructions to Escrow 525 Confirmation Memorandum 526 Settlement Agreement With Release and Waiver 527 Conflict Of Interest Kinship, Position or Undue Influence 535 Interest-Bearing Trust Account Agreement
CITE THIS READING MATERIAL AS: first tuesday Agency, Fair Housing, Trust Funds, Ethics and Risk Management Sixth Edition
Table of Contents i Table of...iv Introduction... v Glossary...235 Table of Contents Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Agency: authority to represent others Introduction to agency... 1 The agency law disclosure Legislated order...5 Agency confirmation provision Mandated for purchase agreements...15 Dual agency and subagency Agency and fee sharing concepts...21 A broker s use of supervisors Delegated supervision, not agency...27 Opinions with erroneous conclusions When an opinion becomes a guarantee....33 Agency Chapter 1 The Federal Fair Housing Act Introduction to fair housing...47 Fair Housing Chapter 2 The Civil Rights Acts of 1866 and 1870 Property rights cannot be based on race... 55 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Americans with Disabilities Act Providing access to nonresidential real estate... 59 California s protected civil rights The Unruh Civil Rights Act...65 Fair housing for disabled persons California-style access for disabled tenants...71 California Fair Employment and Housing Act Discriminatory practices, exemptions and remedies... 75 CalBRE regulation of discrimination Guidelines for broker conduct...79 Equal Credit Opportunity Act Federal fair lending rules...83 Chapter 9 The Housing Financial Discrimination Act of 1977 California s fair lending laws... 89
ii Agency, Fair Housing, Trust Funds, Ethics and Risk Management, Sixth Edition Chapter 10 Chapter 11 Chapter 12 Home Mortgage Disclosure Act Lenders release home loan data...95 HUD advertising guidelines for sales and rentals Avoiding discrimination in advertising...99 Prior occupant s use, affliction and death When and when not to disclose...103 Trust Funds Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Trust funds overview Introduction to trust funds...107 Advance fees are trust funds Deposits retain trust status until disbursed as instructed. 115 Advance costs are trust funds Funds handed to the broker for marketing costs....119 Trust account management The withdrawl of trust funds...125 Trust fund accounting Trust account bookkeeping...131 Penalties for misuse of trust funds Commingling, conversion and restitution...141 Ethics Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Conflict of interest Professional relationships compromised...147 Counteroffers to promote clarity Defacing a previously signed document...155 Property related disclosures Sold as-is is a prohibited disclaimer property is sold as disclosed...159 The borrower and loan broker relationship The accurate representation of mortgage terms...171 Kickbacks, price fixing and MLS access Duplicate charges for services...179
Table of Contents iii Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Management of exposure to liability The reduction of uncertainties for harm...185 An agent s impact on their broker The agent of the agent...193 Due diligence obligations of the seller s and buyer s broker Due diligence by the seller s agent...199 Disclosure of known or suspected adverse facts Selecting and hiring a home inspector...211 A seller s residence in foreclosure The equity purchase investor scheme...217 Cancellation, release and waiver Known and unknown claims...229 Risk Management Defines key terms and supplies page references for further study...443 Glossary Future errata, supplemental material, updates and recent developments specific to Agency, Fair Housing, Trust Funds, Ethics and Risk Management are available online for further research within the Online Reading section of your Student Homepage at www.firsttuesday.us. Updates
iv Agency, Fair Housing, Trust Funds, Ethics and Risk Management, Sixth Edition Table of Full-size, fillable copies of all 350+ first tuesday forms can be found in the -on-cd accompanying this course. Full No. Form Name Page 104 Loan Broker Listing Agreement... 175 107 Listing Package Cost Sheet... 120 156 Equity Purchase Agreement... 221 180 Counteroffer... 157 181 Cancellation of Agreement... 232 305 Agency Law Disclosure... 8 510 Office Manager Employment Agreement...28 535 Interest-Bearing Trust Account Agreement... 129 536 Record of All Trust Funds Received... 136