Property Management
A New Mexico apartment tenant reports a mold problem to the property manager. The manager's appropriate response is to:
AInform the tenant that mold is their responsibility
BInspect promptly, fix the source of moisture causing the mold, and remediate the mold in a timely manner to maintain habitability✓ Correct
CSend the tenant a notice to clean up the mold
DIgnore it unless it spreads to other units
Explanation
Mold resulting from building defects (e.g.
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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.
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