Chap15 Practice


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Chap15 Practice

  2. 2. THE PROPERTY MANAGER AS SEEN BY THE TENANTSProperty management is not a new field ofspecialization. 2
  3. 3. The growth of the modern property managementprofession was facilitated by two factors:1. The invention of the electric elevator and theuse of structural steel, which allowed for highriseconstruction, starting in the late 1800s. Thesehuge structures generally were owned by largecompanies or groups of investors, who had to hiremanagers for their operations.2. The Great Depression of the 1930s, resulted inlenders accumulating vast inventories of propertybecause of foreclosures. To maximize the incomeand protect the property, these lenders requiredproperty managers. 3
  4. 4. In 1933, to slow down this trend and improve theprofessional standing of this management group,approximately 100 companies met and formed theInstitute of Real Estate Management (IREM),a subdivision of the National Association ofRealtors® (NAR). These companies certified thatthey would: 4
  5. 5. Refrain from commingling their clients’ funds withpersonal funds.Bond all employees handling client funds.Disclose all fees, commissions or other paymentsreceived as a result of activity relating to theclients’ property. 5
  6. 6. In 1938 the IREM changed its policy anddeveloped the designation Certified PropertyManager (CPM) to certify individual managersrather than the companies that employed them.The concept has been successful. IREM’scertification requirements are designed to ensurethat managers have the general business andindustry specific experience necessary to maintainhigh standards within the profession. 6
  7. 7. To earn the CPM designation, an individual must:actively support the institute’s rules andregulations.demonstrate honesty, integrity and the ability tomanage real estate, including at least three years’experience in a responsible real estatemanagement a member of a local real estate board and amember of the National Association of Realtors®. 7
  8. 8. IREM also has the designation AccreditedResident Manager (ARM) for residentialmanagers. Accredited ManagementOrganization (AMO) is a designation given byIREM to a company. 8
  9. 9. KINDS OF PROPERTY MANAGERSThere are three basic kinds of managers:licensee/property managers, individual propertymanagers and resident managers. 9
  10. 10. Licensee/Property Manager.A licensee/property manager is a licensee of a realestate office or agency that manages a number ofproperties for various owners. Such a managermay be a member of the firm who spends full timein management, self employed as a managingagent or one of several managers in themanagement department of a large real estatecompany. Persons working under the directsupervision of a licensed property manager neednot be licensed. 10
  11. 11. Individual Property Manager.An individual property manager manages a singleproperty for the owner and may or may not possessa real estate license. He or she usually is employedon a straight salary basis. 11
  12. 12. Resident Manager.A resident manager, as the title implies, lives onthe property and may be employed by the owner orby a managing agent. He or she usually isqualified for this assignment by previousmanagement experience or by special training. 12
  13. 13. FUNCTIONS OF A PROPERTY MANAGERAdministrator for the Owner. As theadministrator for the owner the property managermust recognize that the owner is interestedprimarily in: the highest return from the property,realizing its highest and best use, and; the enhancement or preservation of thephysical value of the property. 13
  14. 14. Specific Duties of a Property Manager. Underthe property management system the owner isrelieved of all executive functions as well as of alldetails connected with the operation or physicalupkeep of the property. 14
  15. 15. Basic Responsibilities.The principal functions of a property manager canbe summarized as seven basic responsibilities.1. Marketing space by advertising and securingdesirable tenants.2. Collecting rents.3. Handling tenant complaints and physicallycaring for the premises.4. Purchasing supplies and equipment and payingfor repairs. 15
  16. 16. 5. Hiring needed employees and maintaining good public relations.6. Keeping proper records and preparing required reports.7. Making recommendations to the owner onmatters of improvements, change in use andinsurance coverage, as well as on operationalchanges requiring owner approval. 16
  17. 17. Establishing Rent Schedules.Rent levels usually are determined on the premiseof scarcity and comparability of values in the area.To set up proper rent schedules, the managermust make a skilled and thorough analysis of theneighborhood. This analysis will include but notbe limited to:The character of the immediate neighborhood.The economic level and size of families. 17
  18. 18. TYPES OF PROPERTY MANAGEDMerchandising specialist. The property managermust be able to advertise and to sell prospectivetenants on the merits of a building.Leasing expert. Being well-informed on all types ofleases assists a manager to determine the mostbeneficial lease for a particular client.Accounting specialist. The law requires thatcertain records be kept and reports made. 18
  19. 19. Maintenance supervisor. Preventative andcorrective maintenance will pre vent expensiverepairs at some future date.Purchasing supervisor. The manager must keepup with all current technological advances inbuilding so he or she can recommend neededreplacements for obsolete installations.Credit specialist. Credit ratings are extremelyimportant. Knowing whether a tenant can live upto the terms of a lease is vital. 19
  20. 20. Insurance adviser. Understanding the varioustypes of policies available and the extent ofcoverage can save both the owner and the tenanttime and money.Tax interpreter. A manager must be well versed inproperty taxes and their effect on the propertybeing managed. He or she should be cognizant ofthe relationship of depreciation to the income andprofit of the property. 20
  21. 21. Psychology expert. This capacity is crucial to day-to-day communication.Budget manager. A property manager must beable to maintain and operate within the budgetestablished for the property. 21
  22. 22. Residential PropertiesResidential properties are by far the mostnumerous of the properties subject to professionalmanagement.Residential property managers should be familiarwith local rent control ordinances to make certainthat rents and/or rent increases charged are notin violation of the law. 22
  23. 23. Residential managers also must fully understandtheir obligations under state and federal fairhousing legislation as well as under the RealEstate Commissioner’s Regulations dealing withfair housing.Residential managers of lower-priced units shouldbe familiar with Section 8 housing. 23
  24. 24. Condominiums.Condominiums and cooperatives are similar fromthe standpoint of management duties.A growing segment in the property managementfield is condominium associationmanagement. 24
  25. 25. Collecting fees from membersIssuing financial statements to the association.Contracting for or hiring all maintenance andrepairs.Enforcing covenants, conditions and restrictions(CC&Rs).Handling tenant interpersonal disputes and/orcomplaints. 25
  26. 26. Filing tax returns (if applicable), as well ashandling worker’s compensation, unemploymentcompensation, insurance and so forth.Seeing that the property is insured as to damageas well as to owner liability.Making suggestions to the board of directors, andattend directors’ meetings. 26
  27. 27. MOBILE-HOME PARKSManagement of a mobile-home park is a specialtyfield involving . . .park development.public amenities.enforcement of park rules.approval of lease assignments on sale of units. 27
  28. 28. MULTI-FAMILY UNITSResidential property bought for investment is themost common professionally managed property.Statistics indicate that multiple units account forapproximately 30 percent of residential housingin the United States. 28
  29. 29. SINGLE-FAMILY HOMESBesides homes purchased for rental, there aremany instances requiring single-family homemanagement. In resort areas, many owners useproperty management to care for their propertiesand, in some cases, handle short-term rentals.Generally, single-family units require moremanagement time per unit than multi-familyunits and management charges tend to reflectthis greater effort. 29
  30. 30. OFFICE BUILDINGSOffice buildings are the major commercialproperty.The larger users of office space, such as banks,savings and loan associations and insurancecompanies, often build for their own use but alsoprovide a large amount of excess space for leasingpurposes. 30
  31. 31. Overbuilding of office structures intensifies theneed for professional management — owners don’twant to give any advantage to other owners.Some areas of California have a glut of officespace. In such areas concessions are necessary toattract tenants. In some instances propertymanagers agree to assume a tenant’s current leaseto encourage the tenant to take a larger spaceunder a long-term lease. The agent then has thejob of marketing the “trade-in” space. 31
  32. 32. MAINTENANCEThe manager of an office building must handlemaintenance or service problems unique to thistype of operation. This job includes such activitiesas:Servicing all operating equipment and publicfacilities, such as lobbies, lights and washrooms.Maintaining elevators, which are indispensable ina high-rise (usually involves an elevatormaintenance contract). 32
  33. 33. Cleaning, usually done at night.Other routine maintenance, including windowcleaning, waste removal, light bulb replacement,heating, ventilation and air-conditioning. 33
  34. 34. RETAIL SPACEManagement of retail space requires many of thesame skills and concerns as office management. Inmulti-unit commercial properties the managershould consider the effect a prospective tenant willhave on the business of other tenants. Managerswill often seek out particular tenants orbusinesses in order to contribute to the overalloperation of the property. 34
  35. 35. INDUSTRIAL MANAGEMENTIndustrial management is rather specializedbecause of the skills required. Industrialmanagers must have knowledge in many areas.Industrial managers might manage specificproperty or an entire industrial park. Theindustrial property manager’s duties primarilyrelate to renting, but they also involve protectingthe property and the owners from liability. 35
  36. 36. MANAGEMENT AGREEMENTIt makes no difference whether the propertyinvolved is an office building, a residentialproperty or a shopping center; the responsibilitiesassumed by the manager are so important thatthey warrant a written agreement. Themanagement agreement formalizes therelationship between the owner and the managerand points out the rights and duties of each party. 36
  37. 37. In addition, management contracts provide forreimbursement of costs, which may or may notinclude such items as advertising.Generally, the more management problems aproperty has, the higher the management feepercentage.Larger properties tend to be managed at lowerpercentages.Property Management Agreement Form PMA-11,from the California Association of Realtors®. 37
  38. 38. ACCOUNTING RECORDSAlthough the number of bookkeeping recordsneeded depends on the type of property managedand the volume of business involved, the selectionand maintenance of an adequate trust fundaccounting system is essential in propertymanagement owing to the fiduciary nature of thebusiness. The responsibility for trust fund recordsis placed on the property management broker. Itis recommended that an outside accountant beemployed to review and audit the accountingsystem. 38
  39. 39. TRUST LEDGERSection 2830 of the commissioner’s regulationsrequires that a trust ledger for propertymanagement accounts be established.As rents come in, they are posted to the owner’saccount. Also recorded in the trust ledger is themoney paid out on behalf of the owner.These expenses are charged against the income ofthe property, and the manager sends a statementto the owner at the end of each month. 39
  40. 40. LEASEHOLD ESTATESOne of the responsibilities of a property managerinvolves leasing the property or acting as aconsultant when drawing up the terms of thelease.A leasehold estate arises when an owner or aproperty manager acting as the owner’s agentgrants a tenant the right to occupy the owner’sproperty for a specified period of time for aconsideration. The owner is the lessor, and thetenant is the lessee. 40
  41. 41. BASIC TYPES OF LEASEHOLD ESTATESThere are four basic types of leasehold estates, based on the length and nature of their duration:• the estate for years,• the estate from period to period,• the estate at sufferance,• and the estate at will. 41
  42. 42. Estate for Years. An estate that continues for adefinite fixed period of time is an estate foryears. The lease may be for any specified lengthof time, even for less than a year, measured indays, weeks or months. Professional propertymanagers will generally insist on an estate foryears. 42
  43. 43. Estate from Period to Period. An estate fromperiod to period is commonly called a periodictenancy. The lease continues from period toperiod (either year to year, month to month orweek to week), as designated. The most commonperiodic tenancy is month to month.A periodic tenancy can be ended by a notice forthe length of the rent paying period but no morethan 30 days. However, if a residential tenant haslived on the premises for at least 12 months, alandlord must provide a 60 day notice toterminate the tenancy. 43
  44. 44. Estate at Sufferance. An estate at sufferanceis created when a tenant obtains possession ofproperty legally but then remains on the propertywithout the owner’s consent after the expiration ofthe leasehold interest. A tenant at sufferance canbe ejected like a trespasser unless rent is paid.The estate then becomes a periodic tenancy basedon the rent-paying period. 44
  45. 45. Estate at Will. An estate at will has no specifiedtime limit. Possession is given with permission,but no agreement is made as to rent.As an example, possession is given to aprospective tenant before the lease terms areagreed upon. In California such an estate requiresa 30-day notice to terminate. 45
  46. 46. TYPES OF LEASESThe three basic lease forms the property managerwill be expected to work with are the gross lease,net lease and percentage lease. 46
  47. 47. Gross Lease. Under a gross lease the tenantpays a fixed rental and the owner pays all otherexpenses for the property. Most residential leasesand small commercial leases are gross leases. Asan example, the typical month-to-month lease isfor a gross amount.To keep a tenant on a gross lease from holdingover at the end of the term, the lease mightinclude a holdover clause, which materiallyraises the rent when the lease period expires. Thisencourages the tenant to either sign a new leaseor vacate the premises. 47
  48. 48. Net Lease. Under the terms of a net lease (ortriple net lease) the tenant must pay utilities, realestate taxes, maintenance, repairs and otherspecial assessments, in addition to the stated rent.Net lease means the owner gets a net amount, andproperty expenses are paid by the tenant. 48
  49. 49. Net leases are generally long-term leases andoften are found in sale-lease-backs and wherebuildings are constructed for a particular tenant.The buyer (investor) wants a stated return. Tokeep the same relative purchasing power, thelessor on a net lease generally wants the netamount tied to an inflationary index, such as theConsumer Price Index. 49
  50. 50. Percentage Lease. A percentage leasegenerally provides for a stated percentage of thegross receipts of a business to be paid as rent.Generally, the percentage lease is tied in with aminimum rent and a covenant to remain inbusiness. The percentage lease also might includehours of operation and a prohibition against thelessee’s conducting off site “warehouse” sales. 50
  51. 51. Percentage leases are typically used in shoppingcenters, where each business aids other thebusinesses.Shopping center leases may have a requirementthat a separate percentage of the gross be used forcooperative advertising in newspapersupplements or on radio or TV. 51
  52. 52. In addition, a percentage lease may include arecapture clause, which provides that should atenant not obtain a desired gross, then the lessorhas the right to terminate the lease.Leases may combine features. For example, abasic gross lease may also include a percentage ofthe gross.The percentage of gross sales that must be paidby the lessee is generally proportional to thetenant’s markup: the greater the tenant’smarkup, the higher the percentage on the lease . 52
  53. 53. Example:50 percent on a parking lot rental and two percenton a supermarket rental.Various professional associations publish averagepercentages currently being charged for differenttypes of businesses. Lessors, of course, want themaximum percentage possible that will still allowthe business to remain viable. 53
  54. 54. REQUIREMENTS OF A VALID LEASETo be valid, a lease must . . .contain the names of lessor and lessee and besigned by the in writing if for longer than one year (statute offrauds).contain an adequate description of the property. 54
  55. 55. show the amount of rent and the manner between parties who are capable ofcontracting.state the duration of time the lease is to be inforce.put any automatic renewal provisions in boldfacetype.Note: A lease for one year or less, by law, is notrequired to be in writing to be valid. 55
  56. 56. RESIDENTIAL LEASINGMost rentals are residential, and most propertymanagers are primarily involved in residentialleases. The property manager has a duty to theowner to use care in the selection of tenants.A tenant who does not regularly pay rent and/oris destructive is worse than having no tenant atall. 56
  57. 57. As protection, property managers should notallow occupancy to a prospective tenant until thatperson is cleared as being a desirable tenant forthe property and deposit and rent checks havecleared. 57
  58. 58. Rental ApplicationMost agents use the Application to Rent andReceipt for Deposit/Screening Fee form preparedby the California Association of Realtors®.Many lessors also require a copy of theprospective lessee’s last pay stub, which serves toverify income. 58
  59. 59. As a minimum, the lessor should verify thepresent employment and length of employmentwith the present employer as well as check withpresent or prior landlords regarding any problemsthey may have had.Keep in mind that checking of tenants must bethe case for all tenants. If the lessor is selective inwhich tenants he or she checks, he or she could bein violation of one or more of the fair housinglaws. 59
  60. 60. It is also a good practice to see and make a copyof the prospective tenant’s driver’s license. Thiswill show you that the applicant is who he or sheclaims to be as well as provide you with aprevious address. 60
  61. 61. Although civil rights law prohibits discriminationfor reasons of race, sex, age, national origin andso forth . . . . . . a lessor can discriminate against a tenantwho has had problems with other tenants at aprior rental, was late in making payments, brokerules, damaged the property, left owing rent orgenerally has had a poor work or credit history. 61
  62. 62. Lease ProvisionsEven if a lessor is renting on a month-to-monthbasis, a written lease should nevertheless beused, because a lease clearly sets forth lessorand lessee duties and obligations.If the lessor has apartment rules or regulations,he or she should attach them to the lease andthey should be signed by the tenant. 62
  63. 63. Name of Parties. Any lease should include thefull names of all parties.If any person is under the age of 18, a co–signerwould ordinarily be necessary, unless theunderage party qualifies as an emancipatedminor by reason of marriage or participation inthe armed forces, or has been declaredemancipated by a court.In signing the lease, the parties should sign“jointly and severally,” so it is clear that eachsigner is liable for the entire rent and you can goto one or to all tenants for the rent. 63
  64. 64. Inspection. Some leases provide for pre-tenancyand end-of-tenancy walk through inspections.Deficiencies should be noted on a form providedfor this purpose, which should be signed by tenantand landlord. 64
  65. 65. Cleaning and Security Deposits. Acontroversial item in leases and rentalagreements is the security deposit.The security deposit functions as a form ofinsurance for the landlord in case the rentalpremises are left damaged or dirty or rent isowed. 65
  66. 66. According to the law, the amount of the securitydeposit that may be demanded or received islimited to an amount equal to two months’ rent inthe case of unfurnished residential property and tothree months’ rent for furnished residentialproperty.Nonrefundable deposits, such as cleaning deposits,are not allowed. Nonrefundable tenant depositsare forbidden. 66
  67. 67. At the termination of the tenancy, the landlord ispermitted to retain only that portion of thesecurity deposit reasonably necessary to remedytenant defaults.If the landlord must return any portion of thedeposit to the tenant, it must be returned withinthree weeks after tenancy is terminated. If thelandlord defaults on this obligation, the tenantmay initiate legal action through an attorney orsmall claims court, or file a complaint with theConsumer Protection Bureau. 67
  68. 68. Lease-Option Arrangement. With a lease-option, usually used when loans are not easilyavailable or the lessor lacks the requireddownpayment, the purchaser leases the propertydesired with an option to purchase at a later date.A portion of the amount paid as rent usually willbe applied against the purchase price. (Optionsalso can be for lease extensions.) 68
  69. 69. Right of Entry. A lease may provide the landlordthe right to check the property for specificpurposes. In the absence of any agreement thelandlord can enter only whenan emergency requires entry.the tenant consents to an entry.the entry is during normal business hours. 69
  70. 70. after a reasonable notice (24 hours is consideredreasonable) to make necessary or agreed repairs,alterations or improvements or to show theproperty to prospective or actual purchasers,mortgagees, tenants, workers or contractors.the tenant has abandoned or surrendered thepremises.or the landlord has obtained a court order to enter. 70
  71. 71. Landlords ResponsibilitiesA residential lease has an implied warranty ofhabitability. This duty does not extend to cases inwhich the problem is one of tenant cleanliness.The landlord must ensure at least that:Plumbing is in proper working order.The heat, lights and wiring work and are safe.The floors, stairways and railings are in goodcondition. 71
  72. 72. When rented, the premises are clean and free ofpests.Areas under lessor control are well-maintained.The roof does not leak and no doors or windowsare broken. 72
  73. 73. If a landlord demands or collects rent for anuntenable dwelling, the lessor is liable for actualdamages sustained by the tenant and specialdamages of not less than $100 or more than$1,000. 73
  74. 74. The tenant can also raise the defense ofhabitability against any eviction action.If a landlord fails to take corrective action when arepair is the landlord’s responsibility, the tenanthas three options:1. The tenant may abandon the property and notbe held liable for back rents or an unfulfilledlease.2. The tenant may refer the problem to amediator, an arbitrator or, in seriouscircumstances, the small-claims court. 74
  75. 75. 3. The tenant may notify the owner in writing ofan emergency situation that must be taken careof. If the owner does not respond, the tenant maycall in his or her own mechanic and offset the costof repair with up to one month’s rent on the nextrent check.However, tenants may do this only twice in eachyear of tenancy. 75
  76. 76. Tenants ResponsibilitiesThe California Civil Code states that the tenant isobligated tokeep the living unit clean and sanitary.dispose of garbage and other waste sanitarily.use all utility fixtures properly, keeping themclean and sanitary.avoid defacing or damaging property. 76
  77. 77. use property only for its intended lawful rent on time.abide by rules and regulations.give a 30-day notice when vacating (month-to-month lease).return door and mailbox keys when vacating.leave the unit in a clean condition when vacating. 77
  78. 78. ASSIGNMENT VERSUS SUBLEASEProvided that the terms of the lease do notprohibit such activity, a tenant has the right toassign or sublet his or her interest in theproperty.Assignment transfers the entire leasehold rightsto a third party. The third party, the assignee,pays his or her rent directly to the original lessor,thus legally eliminating the original lessee. 78
  79. 79. A sublease of property transfers only a part ofthe tenant’s interest. The sublessee pays his orher rent to the original lessee, who in turn isresponsible to the lessor. The original lessee issaid to have a “sandwich lease.”The lease should clearly indicate if it may beassigned or subleased. Lessors frequentlyprovide that assignment or subleasing shall beallowed only with the approval of the lessor;however, this approval must not be unreasonablywithheld. 79
  80. 80. Some leases provide that if the premises aresublet at a rent higher than the lessee is payingthe lessor, the higher portion shall be splitbetween the lessor and lessee.This encourages tenants to try to sublet for amaximum amount and also allows the lessor toshare in the increased rent. 80
  81. 81. TERMINATION OF A LEASEA tenancy for a specified period, as in an estate foryears, requires no notice for termination becausethe date has already been specified. Other than byexpiration of the lease term, termination may bemade:by the tenant for violation of the landlord’s duty toplace the tenant in quiet the tenant for the landlord’s failure to repair. 81
  82. 82. by the tenant on eviction by the either party on destruction of the the landlord on use of the premises forunauthorized purposes or on abandonment of thepremises by the either party on breach of a condition of the tenant for the landlord’s breach of theimplied warranty of habitability. 82
  83. 83. EVICTIONS AND UNLAWFUL DETAINERA landlord may evict a tenant and bring anunlawful detainer action against him or her forfailure to pay rent when due, violation ofprovisions contained in the lease or rentalagreement, or failure to vacate the premises aftertermination of 30 or 60 days written notice. Theprocess of removing a tenant for being behind inrent follows: 83
  84. 84. 1. The landlord serves the tenant with a three-day notice to quit the premises or pay rent.2. If the tenant fails to heed the notice, thelandlord files an unlawful detainer action inmunicipal court.3. If the landlord wins, the court awards thelandlord a judgment. The landlord then asks for awrit of possession authorizing the sheriff toevict the tenant. 84
  85. 85. 4.The sheriff sends the tenant an eviction notice.If the tenant fails to leave, the sheriff thenphysically removes the tenant. Because of drugrelated crime, the legislature has authorizedseveral city attorney and prosecutor offices tobring unlawful detainer actions to abate drugrelated nuisances (the landlord will be chargedfees and costs). 85
  86. 86. Property managers frequently bring action againsttenants and former tenants in small claims courtsfor back rent or for damages to the premises.Attorneys are not allowed to represent clients insmall claims courts. The maximum amount of thesuit is $5,000.The procedure is simple and informal.1. Determine the full legal name and address ofthe person(s) you are suing. This will help youdecide where you must file your claim. 86
  87. 87. 2. Visit the clerk of the small-claims court and fillout the form after paying a small fee.3. Arrange for the order to be served on thedefendant (but not by yourself). The clerk willmail it for a fee, or you may authorize someone toserve it personally. 87
  88. 88. 4. While waiting for the trial, gather all importantdocuments and have them ready. Contact allpotential witnesses and arrange for them to comewith you to the trial, or obtain a subpoena fromthe clerk for any witness who will not comevoluntarily. If you need an interpreter, find out ifone is available at small-claims court; otherwise,bring your own.5. Come to the court building early and ask theclerk where your case is being heard. When youreach the courtroom, check the calendar to seethat your case is listed. 88
  89. 89. 6. When your case is called, give your testimony,presenting only the facts. Be brief. Submit allpapers and documents you think will help yourcase.7. If you win, ask the defendant for the moneyawarded you in the judgment.8. If you have difficulties in collecting yourmoney, ask the clerk to assist you.9. As plaintiff you are not allowed to appeal ifyou lose (unless you must pay as the result of acounterclaim). 89
  90. 90. 10. Landlords now bring unlawful detainer actionin superior courts, no longer in small claimscourts. 90
  91. 91. RETALIATORY EVICTIONA landlord cannot decrease services, increase rentor evict a tenant within 180 days after the tenantexercises a right protected under the law,including:complaining to the landlord about the habitabilityof the premises.complaining to a public agency about defects.lawfully organizing a tenant association. 91
  92. 92. A tenant cannot waive his or her rights againstretaliatory eviction.Prohibition of retaliatory eviction is a defenseagainst eviction. If a landlord has been shown tohave acted maliciously, the tenant will be entitledto from $100 to $1,000 in punitive damages. 92