Landlord and Tenant
Jan E. Beran
UNL-Lincoln, Finance 382
Real Estate Principles and Practices
http://www.beranlaw.com/students/fin382

Leasehold Estate
•	Lessee (not yet in possession) = Tenant (in possession)
•	Lessor (has entered into contract with Lessee who is not yet in possession) = Landlord (has tenant in possession)
•	Reversion = right of owner to retake the property at end of leased period.
•	Historical/common law Perspective
•	Part c                             
•	Part c                             

Character of Tenancy or Estate
•	
At Will

At sufferance

Tenancy for years

Periodic Tenancy

Tenancy to continue until notice
Notice or Death terminates

Holdover tenant, without consent of landlord

Definite period of time and a                        terminates
I                             period, notice of one period to terminate

Creating a Valid Lease
•	Oral or Written
•	The lease agreement must describe the premises
•	Conveyance of P                           
•	Contract aspects (CLOaC)
•	C                               parties (at least           of age)
•	Legal Object
•	Mutual agreement
•	C                          

Creating a Valid Lease (2)
•	Statute of Frauds:
•	Written if for year or more
•	Signed by party to be charged
•	Recorded with Register of Deed if two years or more
•	Words of conveyance (let, rent  . . . )
•	Date of agreement with starting and duration
•	Oral leases valid

Landlord Tenant Law in Nebraska
•	Common law
•	Commercial
•	Agricultural
•	Statutory
•	Residential
•	Mobile home
Lease Considerations
•	Setting Rents
•	Gross rent
•	Net rent
•	Percentage
•	Index
•	Option to Purchase clauses
•	Assignment
•	Subletting
Lease Variations
•	Ground Lease (land only)
•	Vertical Leases (mineral rights)
Discharge of Lease
•	Agreement (notice, abandonment, surrender)
•	Eviction
•	Constructive Eviction
•	Actual Eviction
•	Partial Eviction (diminution of value)
•	Retalitory
•	Eminent Domain
Self Help
•	Landlord
•	Landlord Lien/Distraint for rent
•	Eviction
•	Tenant
•	Withhold rent
•	Rent application
Property Management
•	Duties
•	Tenant selection & retention
•	Collect rent & enforce leases
•	Manage cash flow & financial details
•	Negotiate contract and vendors
•	Schedule maintenance & repair
•	Recommend:
•	Refinance
•	Sale

Tenant Selection/Retention
•	Application/Credit
•	Security Deposit
•	Rent concessions

•	Communication
•	Leases
•	Collecting rent
Nebraska Leases
Statutory

•	Residential Landlord Tenant Act
•	Mobile Home Landlord Tenant Act
Common Law

•	Commercial (includes businesses, warehouses, offices and retail)
•	Agricultural
•	Non-URLTA or Non-MHLTA residential