Property Law 271 Exam Questions with Complete Solutions (Latest 2025) What is the difference between a lease and licence? - Correct Answers ✅A licence is a personal right and does not run with the land, it gives the licensee the right to do something on the land that would otherwise be a trespass.And personal rights are non-transferrable. Whereas a lease gives an interest (estate) in the land which gives the lessee exclusive possession of that certain land and runs with the land and it is binded with your successors.Identify an example situation where an Agreement to Lease would be used - Correct Answers ✅When the premises is still being constructed or renovated and there is uncertainty on when completion of the works will be done. Therefore there isn't a clear commencement date for the lease.In a residential tenancy, what is the maximum amount that a landlord can charge for rent in advance, bond, and key money? - Correct Answers ✅The maximum rent a landlord can charge for rent in advance is two weeks rent. The landlord can charge a maximum of 4 weeks rent for bond (s 18 RTA). Key money is generally illegal. Although can be held by landlord for consideration over the tenancy, must either be refunded or contributed towards rent once decision is made by tenant.What is a fixed term residential tenancy - Correct Answers ✅In a fixed term tenancy if the tenancy is 90 days or less the tenancy automatically ends on the fixed end date. If the tenancy is 90 days or more the tenancy either rolls over into 1 / 2
Property Law 271 Exam Questions with Complete Solutions (Latest 2025) a periodic tenancy or lapses if they provide written notice terminating the tenancy (560a) 21 days before the fixed date end but no earlier than 90 days before the fixed term end date.What is a periodic tenancy - Correct Answers ✅In a periodic tenancy the tenancy ends once either party gives written notice to the other party advising them that they wish to terminate. For a tenant, they need to give 21 days notice before they wish to terminate. For a landlord, they generally need to give 90 days notice. However the landlord may give 42 days notice if there is unconditional sale and purchase agreement requiring exclusive possession of the property, or the landlord, landlord's family or employees wish to use it.Is there any limitation to how much rent can increase in a Residential tenancy - Correct Answers ✅There is no maximum rent that can be charged. However, if the tenant believes that the rent proposed by the landlord is substantially different to market rent taking into account comparable properties then they can make an application to the tenancy tribunal asking for it to be changed.What is an important difference between a flatmate and a tenant - Correct Answers ✅A tenant is the person/group that have a verbal or written tenancy agreement with the landlord and are "jointly and severally liable" for all obligations under their agreement. A flatmate holds no agreement whatsoever with the landlord and are responsible
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