Ch 18: Leases & Property Management

About This Chapter

This chapter examines the details of leases and rental property management in the real estate industry. Work through each lesson, then complete the multiple choice quiz before moving on.

Leases & Property Management - Chapter Summary

Real estate professionals don't just list and sell properties. Many agencies also manage residential and commercial rental properties. Understanding the the ins and outs of leases and rental management is an important skill for any real estate professional. This chapter covers everything from lease details to property management, including:

  • Nonfreehold estates and tenancy
  • Types of real estate leases
  • Selling and renting back
  • Terms of residential and commercial leases
  • Landlord and tenant responsibilities
  • Breach of lease rights and eviction
  • Property management duties

Engaging lessons feature our experienced instructors and plenty of real-world examples, so not only will you learn the material faster, you'll remember it longer. Study the topics in any order you like - the Dashboard will keep track for you. Ready to move on to the next topic? Don't forget to take the self-assessment quiz with each lesson. It's a great way to reinforce what you have learned.

This course was last updated in 2020.

12 Lessons in Chapter 18: Leases & Property Management
Test your knowledge with a 30-question chapter practice test
Nonfreehold Estates: Definition & Considerations

1. Nonfreehold Estates: Definition & Considerations

Many people and businesses rent rather than buy, and they will have property rights significantly different from those that own real estate. In this lesson, you'll learn about nonfreehold estates, including what they are and different types.

Types of Leases in Real Estate

2. Types of Leases in Real Estate

A contract between a landlord and a tenant is a lease. In this lesson, you'll learn about different types of leases in typical real estate transactions including residential leases and commercial leases. A short quiz follows.

Preexisting Leases: Definition & Implications

3. Preexisting Leases: Definition & Implications

What is a preexisting lease? What can be altered? This lesson will explain, as well as go over how private restrictions on real property and government regulations could affect both tenants and owners.

Sale-Leaseback: Definition, Advantages & Disadvantages

4. Sale-Leaseback: Definition, Advantages & Disadvantages

Businesses that are strapped for cash sometimes turn to a sale and leaseback transaction. In this lesson, you'll learn what a sale and leaseback is and its advantages and disadvantages.

Residential & Commercial Lease Provisions

5. Residential & Commercial Lease Provisions

Real estate leases outline the rights and responsibilities of landlords and tenants in both residential and commercial rental properties. In this lesson, you'll learn about common provisions that are found in residential and commercial leases.

Landlord Rights & Responsibilities

6. Landlord Rights & Responsibilities

In this lesson, we will explore a landlord's legal rights and responsibilities in regard to their rental properties and tenants. We will discuss warranty of habitability, disclosure issues and lease inclusions.

Landlord & Tenant Rights After a Breach of Lease

7. Landlord & Tenant Rights After a Breach of Lease

If either a landlord or tenant breaks a portion of the lease agreement they still retain specific rights. In this lesson we will explore a few examples of breaches of lease and how each person's rights are involved in those situations.

The Typical Eviction Process

8. The Typical Eviction Process

Landlords occasionally have to compel a tenant to vacate a building. This lesson will discuss a typical eviction procedure as well the tactic of 'constructive eviction'. A short quiz follows the lesson.

Property Management: Overview & Role

9. Property Management: Overview & Role

A professional or a business that deal with the day to day responsibility of real estate is called a property manager. In this lesson, we will explore the role of a property manager in real estate.

Property Owner Associations: Functions & Membership

10. Property Owner Associations: Functions & Membership

This lesson will explain what property owner associations are and discuss their functions, responsibilities and benefits of membership. We will also discuss the differences between homeowner associations, condominium owner associations and property owner associations.

The Role of Property Management in Real Estate

11. The Role of Property Management in Real Estate

In this lesson, you'll learn about the role of property management in real estate and the obligations, duties, and liabilities of both the property manager and the owner. You'll also learn how to calculate a property management fee.

Tenant Rights & Responsibilities

12. Tenant Rights & Responsibilities

Tenants enjoy a number of rights and responsibilities when they lease a property. Let's look at some of these common entitlements and obligations to see what tenants can legally expect when working with their landlords.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.