Leasehold Estate
The leasehold estate of the lessee can be one of the following:
- An estate for years (tenancy for years) continues for a definite period. A holdover tenancy may be created when a tenant with an estate for years stays on after the lease term expires and the landlord accepts rent payment.
- An estate from period to period (periodic tenancy) has no specific expiration date, but rent is payable at definite intervals and the lease term has continuity because it automatically renews. A month-to-month tenancy is a common form of residential lease.
- An estate at will (tenancy at will) has no specified initial term, is created by express agreement or operation of law, and can be terminated by the landlord or the tenant at any time on proper notice.
- An estate at sufferance (tenancy at sufferance) is created when the tenant stays on without the landlord’s consent after termination. The landlord’s acceptance of rent creates a holdover tenancy, or the landlord can treat the tenant as a trespasser and begin eviction proceedings and an action for damages under state law.
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Prop. Management Federal Laws
Federal laws affecting property management include the following:
- Americans with Disabilities Act (ADA), which includes
- Title I, which applies to employers with 15 or more employees and provides for employment of qualified job applicants, regardless of disability, with reasonable accommodations
- Title III, which prohibits discrimination in commercial properties and public accommodations and requires that access to facilities and services be provided when reasonably achievable in existing buildings, with a higher standard for new construction or remodeling.
- Equal Credit Opportunity Act (ECOA), which prohibits lenders from denying a loan based on a person’s race, color, religion, national origin, sex, marital status, age, or receipt of public assistance, additional protections may be added by state or local laws
- Federal Fair Housing Act, which prohibits discrimination in the sale, rental, or financing of housing based on race, color, religion, national origin, sex, familial status, or disability; additional protected individuals may be added by state or local laws.
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Zoning
- Comprehensive plan – Created by a local government usually covers land use, housing needs, movement of people and goods, community facilities and utilities, and energy conservation.
- Zoning ordinances – local laws implementing the land uses designated in the comprehensive plan and typically cover items such as permitted uses, lot sizes, types of structures, building heights, setbacks, style and appearance of structures, density, and protection of natural resources.
- Zoning classifies property be uses and types, such as commercial, industrial, residential, agricultural, and planned unit developments (PUDs).
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