Module 7- Property Management
Property Managers should carry this type of insurance to protect from mistakes.
a) Building and Fire Codes
b) Management Agreement
c) Employment Law
d) Errors and Omissions Insurance - correct answer ✔✔Errors and Omission Insurance
This occurs when a property is not properly maintained.
a) Preventative Maintenance
b) Deferred Maintenance
c) Maintenance
d) Advertising - correct answer ✔✔Deferred Maintenance
Laws that affect property management: - correct answer ✔✔Federal Fair Housing Laws, Equal Credit
Opportunity Act, Americans with Disabilities Act, Employment Law, Building and Fire Codes
Maintenance to reduce the cost of failures in expensive mechanical equipment - correct answer
✔✔Preventative Maintenance & Maintenance Management
The document used to create the property management relationship. - correct answer ✔✔Management
Agreement
Manuela is managing a new multifamily residential property that has just come on line. Her clients are a
group of investors who want to capitalize on the property's convenient proximity to the local university
and cater exclusively to students. Manuela is used to managing garden apartments in the suburbs. What
should she be aware of?
a) The majority of the property's residents will be moving in or out at the same time.
b) She must provide concierge services and food delivery to her residents.
Property Managers should carry this type of insurance to protect from mistakes.
a) Building and Fire Codes
b) Management Agreement
c) Employment Law
d) Errors and Omissions Insurance - correct answer ✔✔Errors and Omission Insurance
This occurs when a property is not properly maintained.
a) Preventative Maintenance
b) Deferred Maintenance
c) Maintenance
d) Advertising - correct answer ✔✔Deferred Maintenance
Laws that affect property management: - correct answer ✔✔Federal Fair Housing Laws, Equal Credit
Opportunity Act, Americans with Disabilities Act, Employment Law, Building and Fire Codes
Maintenance to reduce the cost of failures in expensive mechanical equipment - correct answer
✔✔Preventative Maintenance & Maintenance Management
The document used to create the property management relationship. - correct answer ✔✔Management
Agreement
Manuela is managing a new multifamily residential property that has just come on line. Her clients are a
group of investors who want to capitalize on the property's convenient proximity to the local university
and cater exclusively to students. Manuela is used to managing garden apartments in the suburbs. What
should she be aware of?
a) The majority of the property's residents will be moving in or out at the same time.
b) She must provide concierge services and food delivery to her residents.
