NC Post Licensing 303 Questions and Answers Already Passed
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Module
NC Post Licensing 303
Institution
NC Post Licensing 303
NC Post Licensing 303 Questions and
Answers Already Passed
What is a rent roll in property management?
A detailed report of all rental income and tenant information for a property.
What are common responsibilities of a property manager regarding tenant screening?
Conduct background che...
NC Post Licensing 303 Questions and
Answers Already Passed
What is a rent roll in property management?
✔✔ A detailed report of all rental income and tenant information for a property.
What are common responsibilities of a property manager regarding tenant screening?
✔✔ Conduct background checks, verify income, and assess creditworthiness of prospective
tenants.
What is an operating budget for a property?
✔✔ A financial plan that outlines expected income and expenses for the property's management.
How should a property manager handle tenant complaints about noise?
✔✔ Investigate the complaint, communicate with the involved parties, and enforce any
applicable lease terms.
What is the purpose of regular property inspections?
✔✔ To ensure the property is being maintained properly and to identify any issues early.
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, What is an operating reserve in property management?
✔✔ Funds set aside to cover unexpected expenses or emergencies related to property
management.
How should a property manager handle lease renewals?
✔✔ Review the current lease terms, negotiate any changes, and provide tenants with a new lease
agreement if terms are agreed upon.
What is the role of a property manager in handling security deposits?
✔✔ Collect, manage, and return security deposits according to legal requirements and lease
terms.
What is a tenant retention strategy?
✔✔ A plan implemented by property managers to keep current tenants satisfied and encourage
them to renew their leases.
What is the process for handling a tenant’s request for modifications to a rental property?
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