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Justin - Property Management Questions And Answers With Verified Solutions Already Passed!!!
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Justin - Property Management Questions And Answers With Verified Solutions Already Passed!!!
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Justin - Property ManagementQuestions And Answers With Verified
Solutions Already Passed!!!
what are reversionary rights? - ANSWER✔✔ owners get possession of the
property after the lease expired
who must take special action (such as submitting a written request) to terminate an
estate for years when the lease expires? - ANSWER✔✔ neither
money set aside for unexpected expenses is called ____ - ANSWER✔✔ reserve
funds
which type of agent has authority thats limited in scope and time? - ANSWER✔✔
special agent
a gross rental income figure is only a rough estimate before it has been corrected
by _____ - ANSWER✔✔ market trend adjustment
the focal point of up to date emergency response systems is ___ - ANSWER✔✔
master central control panels
generally high occupancy rates correlate with ____ - ANSWER✔✔ high demand
installing fire sprinklers, signs and physical barriers to warn people of hazards on
the premises are examples of _____ - ANSWER✔✔ controlling risk
what is an acceptable reason for a manager to deny a rental application? -
ANSWER✔✔ insufficient length of employment
what information does the absorption rate provide? - ANSWER✔✔ square feet
that have been historically been leased in the area
what is a responsibility of a roving Life safety officer during an emergency? -
ANSWER✔✔ assist tenant evacuation
, how can a manager provide an owner with a clear picture of whether the property
is worth keeping and how successful the manager has been? - ANSWER✔✔
performance reports
which of the following things usually includes coverage from losses resulting from
hail, explosions, and windstorms? - ANSWER✔✔ casualty loss
how many units of each type should be available for inspection by prospects? -
ANSWER✔✔ 3 of each type and size
which type of leasehold estate involves a holdover tenant? - ANSWER✔✔ tenancy
at sufferance
what is a possible effect of a decrease in the number of potential tenants? -
ANSWER✔✔ the need for property managers diminishes
who can you not split a commission with? - ANSWER✔✔ an unlicensed person
where should expired leases be kept? - ANSWER✔✔ separate system
an individual property manager is often also a(n) ____ - ANSWER✔✔ real estate
licensee
how can property managers create a drug-free property? - ANSWER✔✔ complete
repairs
when is prospecting complete? - ANSWER✔✔ prospective tenant comes to the
managers office or to the building
the wise manager will build reserve funds into the comprehensive budget in order
to cover which type of expense? - ANSWER✔✔ unexpected
how many elements are involved in a good life safety and security program? -
ANSWER✔✔ three
which is one of a property manager's most successful marketing tactics? -
ANSWER✔✔ on-site advertising
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