Property Management
A Hawaii landlord wants to raise the rent during a fixed-term lease. They may:
AA. Raise rent anytime with 30 days notice
BB. Not raise rent during the fixed term unless the lease contains a rent escalation clause✓ Correct
CC. Raise rent annually by up to 5% without notice
DD. Raise rent only with the Hawaii Real Estate Commission's approval
Explanation
During a fixed-term lease, the rent is fixed by the agreement. Rent increases are only permissible during the term if the lease explicitly includes a rent escalation clause.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Math Concepts
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