Property Management
When NC's 'habitability standard' is violated (e.g., no running water), the tenant's primary remedy is:
AImmediate termination of the lease without notice
BWritten notice to the landlord to repair, and if not repaired, seeking rent reduction or judicial remedies✓ Correct
CWithholding rent without any notice to the landlord
DFiling a complaint with the NCREC
Explanation
NC tenants should provide written notice to the landlord of habitability failures and request repair. If the landlord fails to act, the tenant may seek court relief, rent reduction, or in some cases lease termination.
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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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