DC Property Manager Exam – Questions with 100% Correct Answers | Updated 2024 Management Plan - Answer ✔️✔️-1. Current use 2. Current condition 3. Fiscal projections 4. Operational issues Market Analysis - Answer ✔️✔️-Regional and neighborhood evaluation focusing on: 1. Demographic conditions 2. Geographic features 3. Governmental perspective 4. Existing real estate supply 5. Future developments 6. Tenant demand Analysis of Alternatives - Answer ✔️✔️-Theo retical costs and potential for rent increase based on decision to: 1. Modernize 2. Rehabilitate 3. Change 4. Convert Capital Expenditures - Answer ✔️✔️-Projects that help extend a properties useful life. Three Types of Obsolescence - Answer ✔️✔️-1. Ph ysical Obsolescence is characterized as a condition of aging (i.e. wear and tear) or deferred maintenance. 2. Functional Obsolescence is characterized by old or outdated designs or building systems. 3. Economic Obsolescence represents a loss in value due to outside forces (i.e. location, market conditions). Five Types of Property Values - Answer ✔️✔️-1. Investment Value - This is the value that is generally used by investors. It is frequently determined either by calculating the Net Operating Income and applying a Capitalization Rate to it or from Cash Flow by determining the Return on Investment. 2. Assessed Value - This is the value used by government tax assessment offices. Since it is frequently determined using sophisticated mathematical models that are applied to many similar types of properties over a geographic area, it can be less accurate and produce results that are higher or lower than other types of "values". 3. Market Value - This is the value that is agreed to between a buyer and seller. It represents the "meeting of the minds". 4. Depreciated Value - This is used for income tax purposes and affects a property's tax basis. In the past, the Federal Government has implemented accelerated depreciation programs to help promote economic growth. 5. List price - This is only the price that the owner has offered to sell a property for. Rules of Ethics - Answer ✔️✔️-1. Loyalty to the client 2. Confidentiality 3. Accurate accounting and reporting 4. Protection of owner's funds 5. Conflicts of interest 6. Compliance with Laws and Regulations Management Agreement - Answer ✔️✔️-A formal and binding contract that establishes the authority and responsibilities that the manager has on behalf of the owner and in operating the property. It will assist the owne r in meeting their goals and objectives as well as maximizing the property's value and return. Grounds for Termination of Management Agreement - Answer ✔️✔️-1. Sale or transfer of the property 2. Improper financial reporting 3. Improper financial reportin g 4. Negligence 5. Commingling funds Comparison Analysis - Answer ✔️✔️-The purpose of this analysis is to not only identify physical differences as well as strengths and weaknesses, but also to determine a value for each element and to make adjustments to the subject property's rental rate, up or down, based on the results.
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper KatelynWhitman. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €10,68. Je zit daarna nergens aan vast.
