Property Management
What is the purpose of a security deposit under Ohio law?
ATo pay the last month's rent
BTo cover unpaid rent and physical damages beyond normal wear and tear✓ Correct
CTo fund property repairs
DTo guarantee lease renewal
Explanation
Under ORC 5321.16, a security deposit covers unpaid rent, damages beyond normal wear and tear, and other lease violations. Landlords must return deposits within 30 days of lease termination.
Related Ohio Property Management Questions
- In Ohio, a written property management agreement between a broker and a property owner must contain:
- In Ohio, 'Section 8' (Housing Choice Voucher Program) allows low-income tenants to:
- Ohio's Lead Disclosure Rule for rental housing requires landlords of pre-1978 buildings to:
- A property management company in Ohio that manages a building with 50+ units must comply with which additional federal requirement?
- In Ohio commercial leasing, a 'base year' in an expense stop lease means:
- Under Ohio landlord-tenant law, a tenant who abandons the property mid-lease:
- In Ohio, a 'holdover tenant' who continues to occupy commercial space after lease expiration may be treated as:
- In Ohio, a 'gross lease' is distinguished from a 'net lease' primarily because:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →