Arkansas Real Estate Practice Exam

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What key piece of information is necessary on every tenant ledger according to the text?

  1. The legal description or physical address

  2. The monthly rental price

  3. The lease termination date

  4. The tenant's social security number

The correct answer is: The legal description or physical address

Every tenant ledger should include the legal description or physical address for each property, as this is essential information for identifying and differentiating between different tenants. The monthly rental price (B) and lease termination date (C) are also important pieces of information, but they are not necessary on every tenant ledger. Including the tenant's social security number (D) on the ledger is not recommended due to privacy concerns.

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