Property Management
Under Wisconsin law, a landlord may NOT include a lease provision that requires a tenant to:
APay a late fee for rent paid after the due date
BWaive rights guaranteed to them under Wis. Stat. Chapter 704 or DATCP rules✓ Correct
CPay utilities separately from rent
DProvide 28 days' notice to vacate at lease end
Explanation
Wisconsin DATCP rules and Wis. Stat.
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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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