Montana Property Management Exam Prep Questions and Answers 2024;full solution pack

When is a new Property Manager required to complete their required CE hours by? - Answer-Oct 31st / 2nd renewal date When a property manager decides to not offer their services predominately in a Jewish area of town, this illegal practice is called ? - Answer-Redlining Management personnel who reside at the property are called ? - Answer-Site Managers When is the move-in condition report NOT required ? - Answer-When there is no security deposit collected law 70-25-206 How long after having received notice does a tenant have to complete move-out cleaning? - Answer-24 hours law 70-25-201 A tenant upon written request, must be provided what info? - Answer-The security deposit disposition for the prior tenant law 70-25-206 Which of the following need to be kept in a trust account? - Answer-earned interest law what is the maximum amount of personal funds allowed to be kept in a trust fund? - Answer-sum not to exceed $1000 (may include earned interest, bank fees, trust account maintenance, monies when due and payable to the property managers) law If a rule is a substantial modification and fair for all tenants how many days notice should be given for the new rule? - Answer-If a rule is adopted after a tenant enters into a rental agreement that works a substantial modification of the tenant's bargain, it is not valid until 7 days after written notice to the tenant in the case of a week to week tenancy or 30 days' written notice in the case of tenancies from month to month. law 70-24-311 When may a Landlord adopt a new rule for the building? - Answer-A rule adopted by a landlord must be in writing and must be given to each tenant residing on the premises and to each new tenant upon arrival. it is reasonably related to the purpose for which it is adopted; it applies to all occupants in the premises in a fair manner; Law 70-24-311 ( more answers see rule for complete list) What type of notice are landlords and tenants allowed to use? - Answer-the person has actual knowledge of it; delivered to the place of business that the rental agreement was signed at, mailed by certified mail or certificate of mailing to last known address or the provided new address (notice is considered to have been made on the date 3 days after the date of mailing), email ONLY if a receipt of read is an option with your email server or email was replied to confirming receiving notice, received by an organization law 70-24-108 The purpose of the Board of Realty and Regulation is? - Answer-Protect the public Fair housing agencies will do what when investigating allegations of illegal discrimination? - Answer-use testers to gather information What is not included in a market analysis? - Answer-vacancy loss or ratesWhat is true about guide dogs, assistant pets, or support animals? - Answer-They may be considered "reasonable accommodations" and would therefore be exempt from a NO PET policy. What doe's Megan's Law require? - AnswerFair housing laws would require a landlord to make all the following reasonable accommodations and modifications accept... - Answer-YES> install 1 ramp to the laundry room YES>add grab bar in the bathroom NO>Install an elevator on the 2nd floor of apartment building YES>Accommodate an overnight caretaker even if the guest policy doesn't allow more than say 2 nights of overnight company When can a landlord deduct normal wear and tear without giving a tenant 24 hour notice? - Answernever> not allowed to deduct normal wear and tear In lieu of a $200 deposit, the landlord allows the tenant to clean the dirty unit upon arrival. Upon moving out the tenant leaves the unit clean, owes no back rent or fees, and left no damages in need of repair. The landlord does... - Answer-must refund the tenant $200 for the value of their cleaning the unit before moving in Law What is true regarding security deposits? - Answer-NO>there is a limit to their amount YES>if collected, a condition report must be provided to the tenant NO>any interest collected must go to the tenant NO>you cannot charge a deposit greater than 1 1/2 times monthly rent