A Pennsylvania broker managing rental properties deducts $800 in documented damages from a tenant's $1,500 security deposit after the tenant vacates. Under Pennsylvania law, which of the following correctly describes the broker's obligations regarding the remaining $700?
Correct Answer
A) The broker must return the $700 within 30 days of lease termination, accompanied by a written itemized list of damages and their costs
Under Pennsylvania's Landlord and Tenant Act (68 P.S. §250.512), a landlord or property manager must return the security deposit, less any documented deductions, within 30 days of lease termination. The return must be accompanied by a written itemized list specifying each damage claimed and its associated cost. Failure to comply can result in the landlord forfeiting the right to retain any portion of the deposit and becoming liable for double damages. As the property manager, the broker must satisfy both this statute and RELA's escrow handling requirements.
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More Pa Rela Brokerage Rules Questions
Under RELA, a Pennsylvania brokerage must ensure that all licensees affiliated with the brokerage have completed what requirement before practicing real estate?
Under RELA, a Pennsylvania broker of record has a duty to ensure that all affiliated licensees maintain current and active licenses. If the broker discovers that a salesperson's license has expired, what must the broker do?
Under RELA, a Pennsylvania brokerage receives a written complaint from a consumer about one of its salespersons. The broker of record must take what immediate action?
Under RELA, where must a Pennsylvania brokerage display its current real estate license?
Under RELA, a Pennsylvania brokerage employs both salespersons and associate brokers. What is the key difference between a salesperson and an associate broker under RELA?
- → Under RELA, when a Pennsylvania salesperson places their license with a new brokerage, the salesperson is said to be operating under the authority of which individual?
- → Under RELA, a Pennsylvania salesperson, Jake, earns a commission from a closed transaction. How should the commission be paid?
- → Under RELA, a Pennsylvania broker of record must maintain written office policies. Which of the following topics should these policies address?
- → Under RELA, a Pennsylvania broker of record, Sarah, is retiring and wants to close her brokerage. What steps must Sarah take regarding her affiliated salespersons?
- → Under RELA, when a Pennsylvania salesperson terminates their affiliation with a brokerage, what happens to the salesperson's license?
- → Under RELA, a Pennsylvania broker of record, Steve, wants to change the brokerage's physical office location. What must Steve do under RELA?
- → Under RELA, a Pennsylvania salesperson must operate under the supervision of which type of licensee?
- → Under RELA, a Pennsylvania brokerage is required to maintain a physical office location. Which of the following is a requirement for the brokerage office?
- → Under RELA, a Pennsylvania salesperson, Monica, wants to transfer from Brokerage A to Brokerage B. What is required for the transfer to be valid under RELA?
- → Under RELA, how long must a Pennsylvania brokerage retain transaction records?
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Previous Question
Under RELA, a Pennsylvania salesperson, Eric, receives a $3,000 earnest money check from a buyer during a weekend showing. Eric's broker is on vacation and unreachable. What should Eric do with the check?
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A Pennsylvania broker's business checking account is overdrawn, so he transfers brokerage operating funds into his escrow account to cover expenses, intending to move the money back within one week. Which of the following best describes the legal consequence of this action under RELA?