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22-Property Management Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024
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22-Property Management Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024

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  • November 20, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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22-Property Management Questions And
Answers With Verified Solutions 100%
Correct Latest Updated 2024
property managers in NY - ANSWER✔✔ for those wanting to specialize in
property management career, a rela estate license is a must

property manager - ANSWER✔✔ oversees the management of a number of
properties for various owners

building manager - ANSWER✔✔ manages just one building

resident manager - ANSWER✔✔ represents a property management firma nd may
live on the premises of the building that he or she manages

BOMA international-building owners and manager association - ANSWER✔✔
professional organization that offers educational courses for property managers as
they continue their career

RPA-real property administer- if awarded to those who complete

the institute of real estate management -IREM - ANSWER✔✔ national association
of realtoers affiliate group that offers eduation and gives out ARM -accredited
residential manager and CPM- certified property mnager

NARPM- national association of residential property managers - ANSWER✔✔
manage single family dwellings gives out PPM-professional property manager and
MPM master property manager

leasehold estate - ANSWER✔✔ type of interest that gives the holder temporary
right to exclusive possession of that real estate without actually having title to
property

estate for years - ANSWER✔✔ -any leasehold estate for a fixed time period with
specific beginning and ending date
-terminates automatically at end of specific period
-not terminated by the death of either party

, terminating estate for years - ANSWER✔✔ neither tenant or landlord can
terminate early unless mutual agreement

periodic tenancy - ANSWER✔✔ last for an identified period of but does not have
termination date and automatically renews itself

most commom periodic tenancy - ANSWER✔✔ month to month

tenancy at will - ANSWER✔✔ no specified termination date and no regular rental
period

tenancy at sufferance - ANSWER✔✔ possession of property by a tenant who
originally has a right to live on the property but stays once lease expires without
permission

anchor tenant - ANSWER✔✔ major department or chain store stratigically located
within a shopping center to give maximum exposure to smaller satellite stores

general agent - ANSWER✔✔ authorized to represent the principal in a broad range
of matters as specificed as part of a long term relationship

3 main jobs of a property manager - ANSWER✔✔ -fulfill the goals and objectives
of owners
-create income for owners
-maintain or increase the property's value

management agreememt - ANSWER✔✔ governs the relationship between the
owner and the property manager

management authority - ANSWER✔✔ outlines what a property manager is
authorized to handle

typical duties of property manager - ANSWER✔✔ selecting tenants and leasing
units
collecting rents
security deposit returns
evicting

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