A9 Flashcards
What is NOT part of the property manager’s responsibilities?
a. Ethics
b. Keeping up with rental rates in the area
c. Telling the owner the market value of the building
d. Keeping current the vacancies
c. Telling the owner the market value of the building
What is not required of a property manager?
a. Register prospective tenants
b. Collect rents
c. Acts as a general agent
d. Keep up with current rental rates
a. Register prospective tenants
Which of the following may a property manager NOT receive?
a. Reimbursement for out of pocket expenses
b. Free rent on an apartment unit
c. Monthly management fee
d. Rebates from suppliers
d. Rebates from suppliers
What is NOT part of a typical property management agreement?
a. Beginning and ending date
b. Frequency of management reports
c. Thirty-day cancellation clause
d. Annual budget
d. Annual budget
Which of the following would NOT be part of the landlord-tenant act?
a. Security deposits regulations
b. Property management regulations
c. Notices for eviction
d. Notice of self-help repairs
b. Property management regulations
A landlord wishes to show a party your apartment. He may do so with which of the following notices?
a. 24 hours
b. 48 hours
c. 72 hours
d. 6 hours
b. 48 hours
All of the following can be signors on a property management trust account EXCEPT:
a. Designated broker
b. Managers licensed under the broker
c. Property owner
d. Employees of the broker
c. Property owner
Which of the following is NOT true regarding a property management trust account:
a. Multiple properties can be in one trust account
b. A salesperson can be a signatory on the trust account
c. A salesperson signatory may sign checks paying miscellaneous maintenance fees.
d. Only licensed signatories are permitted
d. Only licensed signatories or permitted
Property management agreements do NOT deal with which of the following:
a. Commissions
b. Rents
c. Building age
d. Frequency of reports
c. Building age
If a property is damaged by fire and the tenant moves out, which of the following statements is true?
a. Tenant may terminate the lease with a 14 day written notice
b. Tenant may terminate the lease with a 10 day written notice
c. Tenant may terminate the lease with a 7 day written notice
d. Tenant may terminate the lease with a 5 day written notice
a. Tenant my terminate the lease with a 14 day written notice
A property management agreement may be terminated:
a. By a ruling of the real estate department
b. With 10 days written notice by either party
c. By complying with any time parameters in the agreement
d. With a majority consent of the leassees
c. By complying with any time parameters in the agreement
In order to terminate a month-to-month lease, a person would be required to give:
a. 10 days notice
b. 14 days notice
c. 21 days notice
d. 30 days notice
d. 30 days notice
When a tenant fails to pay rent, the landlord would first deliver to the tenant a/an:
a. Judgement
b. 5-day notice
c. Forcible detainer
d. Abandonment notice
b. 5-day notice
A property management company is required to keep a copy of all residential rental agreements upon expiration for a period of?
a. One year
b. Three years
c. Five years
d. Six years
a. One year
All of the following are true regarding security deposits on residential property EXCEPT:
a. Landlord may collect up to one and one-half times the monthly rent
b. Tenant may pay in excess of one and one-half times the monthly rent, if agreed
c. Landlord may charge one and one-half times monthly rent, plus first and last month’s rent
d. Landlord may charge a non-refundable cleaning deposit
c. Landlord may charge one and one-half times monthly rent, plus first and last month’s rent
How many days does the landlord have to give the tenant a full accounting of the security deposit upon termination of tenancy?
a. 3 days
b. 10 days
c. 14 days
d. 21 days
c. 14 days
If the landlord fails to give the tenant a full accounting of the security deposit within the required time, which of the following is true?
a. The landlord would be liable for twice the amount wrongfully held
b. The landlord would be liable for three times the amount wrongfully held
c. The landlord would only be required to return the original deposit plus interest
d. The landlord would be required to return the original deposit plus twice the amount of interest
a. The landlord would be liable for twice the amount wrongfully held
All of the following disclosures are required to be given by the landlord to the tenant EXCEPT:
a. Name of the person authorized to manage the unit
b. Notification to the tenant that a free copy of the landlord tenant act is available at the Secretary of State’s office
c. Name of the person who is to receive all notices and demands
d. Name and address of the property owner
d. name and address of the property owner
Before a tenant can exercise the self-help for minor defect provision, the tenant must give the owner how many days to cure the defect?
a. 3
b. 5
c. 7
d. 10
c. 10 days
If the landlord fails to comply with the rental agreement, the tenant may terminate the lease if the breach is NOT corrected in how many days?
a. 3 days
b. 7 days
c. 10 days
d. 14 days
c. 10 days
If the landlord fails to comply with the rental agreement in matters affecting health and safety, the tenant may terminate the lease if the breach is NOT corrected in how many days?
a. 3 days
b. 5 days
c. 10 days
d. 14 days
b. 5 days
All of the following are true regarding self-help for minor defects EXCEPT:
a. Tenant must give the landlord 10 days to comply
b. All notices given to the landlord must be in writing
c. Tenant may spend up to 1/2 the monthly rent, or $300, whichever is greater
d. Tenant my deduct work from rent in the amount of twice the rent
d. Tenant may deduct work from rent in the amount of twice the rent
Which of the following below could sign a property management agreement?
a. Unlicensed staff
b. Licensed salespeople with a broker
c. Office manager only
d. Corporate office only
b. Licensed salespeople with a broker
A property manager who collects rents and holds the money for an owner must have which of the following?
a. Trust account
b. General account
c. Interest-bearing general account
d. Personal checking account
a. Trust account
A property manager has an agreement with a property management company. The management company license expires. Which of the following is true?
a. The agreement is valid for a one-year grace period
b. The agreement is suspended until the license is renewed
c. The agreement will terminate when the management company license expires
d. The agreement will continue until the stated expiration date
c. The agreement will terminate when the management company license expires
Who may sign a commission check paid out of the broker’s trust account?
a. Salesperson
b. Broker
c. Salesperson or broker
d. Company bookkeeper
c. Salesperson or broker
What is the maximum security deposit allowed by the Arizona Landlord Tenant Act?
a. One month rent
b. 1.5 month’s rent
c. 1.5 month’s rent plus last month
d. First and last months rent plus 1.5 months security
b. 1.5 month’s rent
Who must provide the buyer with the homeowner’s association rules for a complex having more than 50 units?
a. Seller
b. Association
c. Escrow
d. Broker
b. Association
When advertising via a web page, the Equal Housing Opportunity statement, slogan or logo:
a. Must appear on the home page
b. Must be placed on every page
c. Should appear on every page, without the viewer have to scroll down to view it
d. Is not required if the advertising is directed at someone other than a member of protected class
c. Should appear on every page, without the viewer having to scroll down to view it
