Real Estate Practices Unit 15 Question and answers already passed 2024/2025
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Course
Property management
Institution
Property Management
Real Estate Practices Unit 15 Question and answers already passed 2024/2025 Real Estate Practices Unit 15
The Institute of Real Estate Management (IREM) certifies individual managers as - correct answer Certified Property Managers (CPM).
State law requires a resident manager for property c...
Real Estate Practices Unit 15
The Institute of Real Estate Management (IREM) certifies individual managers
as - correct answer ✔Certified Property Managers (CPM).
State law requires a resident manager for property containing - correct
answer ✔16 or more units.
In addition to the property manager's dual role of an administrator for the
owner and an advocate for the resident, the California Department of Real
Estate requires a property manager to - correct answer ✔maintain proper
records and make regular reports to the owner.
supervise employees.
create and supervise maintenance schedules and repairs.
The amount of rent paid after deducting negotiated concessions such as one
month's free rent is called - correct answer ✔effective rent.
To make certain that rent increases are not in violation of the law, residential
property managers should be familiar with - correct answer ✔rent control
ordinances.
How would the duties of a condominium property manager differ from those of
a residential property manager? - correct answer ✔In a condominium
association, the property manager doesn't make policy; he or she merely
carries out policy as directed by the board of directors. A condominium
property manager must also deal with the personalities and politics of the
homeowner's association members.
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