SC Property Management Exam 2023-2024
Residential Landlord and Tenant Act : Created in 1986
Residential Landlord and Tenant Act - Purpose : Simplify, clarify, modernize, and revise the law
governing rental of dwelling units and the rights, obligations of landlords and tenants. To encourage
landlords and tenants to maintain and improve the quality of housing.
Administration Remedy : Any right or obligation declared is enforceable by action unless the provision
declaring it specifies a different and limited effect.
Settlement of disputed claim or right : A claim or right arising on a rental agreement, if disputed in
good faith, may be settled by agreement.
Action : Include recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which
rights are determined, including an action for possession.
Building and Housing Codes - Enforcement : Any law, ordinance, or governmental regulation
concerning fitness for habitation, or the construction, maintenance, operation, occupancy, use, or
appearance of any premise or dwelling unit.
Dwelling Unit : A structure or the part of a structure that is used as a home, residence, or sleeping
place by one person who maintains a household or by two or more persons who maintain a common
household and includes landlord-owned mobile homes. Property that is leased for the exclusive purpose
of being renovated by the lessee (tenant) is not considered a dwelling unit within the meaning. Lessor
(owner)
Fair-Market Rental Value - Collusion : The actual periodic rental payment for comparable rental
property to which a willing landlord and a willing tenant would agree. In determining the fair-market
rental value the court may consider appraisals offer by the tenant, landlord, realty experts, licensed
appraisers and other relevant evidence.
, Good Faith : Honesty in fact in the conduct of the transaction concerned
Landlord : The owner, lessor, or sublessor of the premises and also means manager of the premises
who fails to disclose
Organization : Includes a corporation, government, governmental subdivision or agency, business
trust, estate, trust, partnership or association, two or more persons having a joint or common interest,
and any other legal or commercial entity
Owner : Means one or more persons, jointly or severally, in whom is vested in all or part of the legal
title to property or all or part of the beneficial ownership and a right to present use and enjoyment of
the premises. The term includes a mortgagee (lender) in possession.
Mortgagee : A lender in a mortgage loan transaction.
Mortgager : an owner who gives a security interest in property in order to obtain a loan
Person : Includes an individual or organization
Premises - Property "Appliances" : Means a dwelling unit and the structure of which it is a part and
facilities and appurtenances therein and grounds, areas, facilities held out for the use of tenants
generally or whose use is promised to the tenant.
Rent : The consideration payable for use of the premises including late charges whether payable in
lump sum or periodic payments, excluding security deposits or other charges
Rental Agreement : All arrangements, written or oral, and valid rules and regulations adopted under
Section 27-40-520 embodying the terms and conditions concerning the use and occupancy of a dwelling
unit and premises
Residential Landlord and Tenant Act : Created in 1986
Residential Landlord and Tenant Act - Purpose : Simplify, clarify, modernize, and revise the law
governing rental of dwelling units and the rights, obligations of landlords and tenants. To encourage
landlords and tenants to maintain and improve the quality of housing.
Administration Remedy : Any right or obligation declared is enforceable by action unless the provision
declaring it specifies a different and limited effect.
Settlement of disputed claim or right : A claim or right arising on a rental agreement, if disputed in
good faith, may be settled by agreement.
Action : Include recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which
rights are determined, including an action for possession.
Building and Housing Codes - Enforcement : Any law, ordinance, or governmental regulation
concerning fitness for habitation, or the construction, maintenance, operation, occupancy, use, or
appearance of any premise or dwelling unit.
Dwelling Unit : A structure or the part of a structure that is used as a home, residence, or sleeping
place by one person who maintains a household or by two or more persons who maintain a common
household and includes landlord-owned mobile homes. Property that is leased for the exclusive purpose
of being renovated by the lessee (tenant) is not considered a dwelling unit within the meaning. Lessor
(owner)
Fair-Market Rental Value - Collusion : The actual periodic rental payment for comparable rental
property to which a willing landlord and a willing tenant would agree. In determining the fair-market
rental value the court may consider appraisals offer by the tenant, landlord, realty experts, licensed
appraisers and other relevant evidence.
, Good Faith : Honesty in fact in the conduct of the transaction concerned
Landlord : The owner, lessor, or sublessor of the premises and also means manager of the premises
who fails to disclose
Organization : Includes a corporation, government, governmental subdivision or agency, business
trust, estate, trust, partnership or association, two or more persons having a joint or common interest,
and any other legal or commercial entity
Owner : Means one or more persons, jointly or severally, in whom is vested in all or part of the legal
title to property or all or part of the beneficial ownership and a right to present use and enjoyment of
the premises. The term includes a mortgagee (lender) in possession.
Mortgagee : A lender in a mortgage loan transaction.
Mortgager : an owner who gives a security interest in property in order to obtain a loan
Person : Includes an individual or organization
Premises - Property "Appliances" : Means a dwelling unit and the structure of which it is a part and
facilities and appurtenances therein and grounds, areas, facilities held out for the use of tenants
generally or whose use is promised to the tenant.
Rent : The consideration payable for use of the premises including late charges whether payable in
lump sum or periodic payments, excluding security deposits or other charges
Rental Agreement : All arrangements, written or oral, and valid rules and regulations adopted under
Section 27-40-520 embodying the terms and conditions concerning the use and occupancy of a dwelling
unit and premises
