Leased property makes up a large portion of the national real estate market. Licensees may encounter the special issues pertaining to leased property as property managers or as rental agents and brokers. The lease contract requires the participation of only a lessor and lessee in order to be valid, but property managers, rental agents, brokers and lawyers may act as representatives or consultants in the process of negotiating, signing and fulfilling the lease agreement.

This is an introduction to the financial option of leasing. The course presents the student with a comprehensive study of residential and commercial leases, describes the various types of leases and explains the characteristics of lease agreements. The process of lease origination, execution and termination are covered in depth.

The course also describes leases in the context of landlord and tenant law. It explains the importance and the usage of lease agreements in drafting and executing a rental agreement.

This Leases Course utilizes interactive technology and audio in an appealing way to facilitate the learning of the leasing process.

Learning Objectives

At the conclusion of your study material, you should be able to:

• Understand the importance of the rental market within the national housing market
• Describe what a lease is and who the signatories on a lease contract are
• Explain the characteristics that make a lease legally enforceable
• Identify and explain the terms and elements of a lease agreement
• Differentiate between the different types of tenancy agreements and their respective characteristics
• Be able to calculate lease amounts for gross, net and percentage leases
• Understand the landlord’s rights and responsibilities in a lease agreement
• Understand the tenant’s rights and responsibilities in a lease agreement
• Comprehend the importance and validity of the Federal Fair Housing Act
• Explain the key characteristics of the Uniform Residential Landlord Tenant Act of 1972
• Differentiate between commercial and residential leasing
• Understand the different types of commercial lease agreements
• Understand the applicative nature of the Americans with Disabilities Act within commercial leasing
• Identify the various ways in which a lease agreement may be terminated
• Describe causes of termination
• Describe eviction procedures

Approved Course Number:

04-00-100-7476