Property ManagementIntermediateNorth Carolina Exam
Under the NC Vacation Rental Act, the property manager or owner must give the tenant how many days' advance notice before the landlord may terminate a vacation rental for breach?
ASimply a flat 5 days, shorter than the NC Vacation Rental Act's actual required advance notice period for termination
B10 daysCorrect
C15 days
DSimply a flat 30 days, shorter than North Carolina's actual mechanic's lien filing deadline
Why 10 days Is Correct
Answer B: 10 days
Under NC G.S.
Exam Tip: Property Management
Property management questions cover landlord-tenant law, security deposits, and maintenance responsibilities. Know the differences between gross, net, and percentage leases.
Key Property Management Terms in This Question
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA 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.
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