Ch.15 Property Management And Leasing Question and answers correctly solved 2024/2025
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Course
Property management
Institution
Property Management
Ch.15 Property Management And Leasing Question and answers correctly solved 2024/2025 Ch.15 Property Management And Leasing
Institute of real estate management (IREM) - correct answer formed by 100 companies, in 1933, under NAR to improve professional standards of property managers
Certifi...
Ch.15 Property Management And
Leasing
Institute of real estate management (IREM) - correct answer ✔formed by 100
companies, in 1933, under NAR to improve professional standards of property
managers
Certified property manager (CPM) - correct answer ✔certified individual
managers rather than the companies that employed them to deal with the lax
standards set by IREM.
Accredited management organization (AMO) - correct answer ✔designation
given by IREM to a company.
-needs to have at least one CPM in charge
-have property management as primary activity
-follow minimum standards and the rules of IREM, and
-renew accreditation yearly
trust ledger - correct answer ✔ledger of monies paid out on behalf of the
owners. these are charged against the income of the property
gross lease - correct answer ✔tenant pays a fixed rental and the owner pays
all of the expenses for the property
net lease - correct answer ✔the owner gets a net amount and property
expenses are paid by the tenant. payments are similar to annuity.
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