Champions TX Property Management SAE, With Complete Verified Solution 2023/2024
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Champions TX Property Management SAE, With Complete Verified Solution 2023/2024
The demand for professional property management that occurred in the late 1800s resulted primarily from
reshaping the urban center by building tall buildings with elevators
The growth of shopping centers has been s...
Champions TX Property Management SAE,
With Complete Verified Solution 2023/2024
The demand for professional property management that occurred in the late
1800s resulted primarily from
reshaping the urban center by building tall buildings with elevators
The growth of shopping centers has been stimulated by
population shifts to the suburbs
Incubator spaces are most likely to be found in
research parks
Which of the following types of real estate properties utilizes more professional
property managers?
Commercial
If a property owner asks a property manager to manage the property in violation
of current civil rights
laws, the property manager should
terminate the management agreement
Which of the following characterizes the expansion phase in the business cycle?
Production increases
In the operating-budget, what is the name of the expenditure that accounts for
money for replacement
expenditures?
Reserve funds
In market analysis, the specific goal of the property manager is to identify major
economic trends and their
effect on the value of a specific property at the manager's particular market level
Cash flow from a property is predicted by which of the following formulas?
Anticipated revenue minus total adjusted operating expenses and minus debt service
At or just before the peak of the general business cycle,
supply surpasses demand
From an economic standpoint, the rental market as a segment of the economy
is generally poor during a contraction phase
To avoid any surprises when taking over a new property, the manager should first
read all the leases
What should the manager do if the building is 100% occupied?
Consider raising the rents
A good management plan is based on a(n)
operating budget for one year
A property manager acting as an agent
owes the duties of care, loyalty, obedience, accounting, and disclosure to the principal
The written agreement between the owner and the agent that specifies the duties
of each is known as a
, management contract
MOST property managers seek agreements with a term of at least
one year
A property manager's agreement provides for a leasing fee plus $13,000 per year
for managerial services.
What kind of agreement is this?
Flat-fee arrangement
A flat fee arrangement would be MOST appropriate when managing a(n)
condominium community
If a property owner violates any applicable law or regulation, the property
manager
may cancel the contract immediately upon serving the owner with notice of intent
Managers usually prefer to have the authority to hire and fire property personnel
because
employees will develop more loyalty to the manager under these circumstances
As responsibility for the property is transferred, the manager should pay special
attention to
the accounts payable ledger
A monthly earning report submitted by the manager to the owner
should always be accompanied by a personal note
Of the following, which shapes marketing strategies?
Extent of the owner's financial resources
Other than signs on the property, the MOST popular print medium for advertising
residential property is
classified ads
When should For Rent signs be used?
Most productively when placed in vacant store windows
When a prospect comes to the manager's office in response to a marketing effort,
the manager's job is to
convince the prospect that the space is the most advantageous to the prospect
A campaign to increase the prestige of a property logically should be undertaken
in a stable market
As the manager develops a marketing strategy, which of the following statements
is the BEST guide?
Each type of property requires certain advertising to reach the unique pools of potential
tenants.
When developing advertising brochures, the property manager should begin by
working around a central theme
When planning an effective ad campaign, which of the following statements
should the property manager
remember?
One advantage of in-house leasing agents is that the property manager has more
control over them
than over brokers.
A $250-per month apartment requires seven prospects before it is leased during
active market conditions.
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