Becoming a Landlord Test tips

Chapter 3: Taking Care of Business

You should know and understand the following points covered within this chapter:

Where local law permits, you may be able to collect a security deposit to cover any damage a tenant might do to your unit.
Generally, if you do not maintain your property according to the laws, you can be held liable for damages resulting from negligence.
A written rental agreement spells out the obligations of both the tenant and the landlord, and the terms and conditions of tenancy.
Written leases spell out the obligations of the tenant and landlord, and sets a stated period of time for tenancy, usually a year.
You can require tenants to behave according to your needs — so long as your demands fall within the law. You can usually ask tenants to: