CH 1 Flashcards
1
Q
High-rise office buildings were made possible because of what?
A
Structural Steel & the electric elevator
2
Q
What PM area employs the largest number of people?
A
Government
3
Q
3 Traits of REITs
A
- Publicly traded companies
- Purchasers of large properties
- Not taxed on profits, passed on as dividends
4
Q
Benefits offered by professional property management include (3)
A
- Lower vacancy rates
- Higher Rents
- Prolonging economic life
5
Q
Personal attributes for success in PM include (3)
A
- People skills
- Goal oriented
- Flexility
6
Q
CPM?
A
Certified Property Manager
7
Q
ARM?
A
Accredited Residential Manager
8
Q
AMO?
A
Accredited Management Organization
9
Q
BOMA?
A
Building Owners and Managers Association
10
Q
RPA?
A
Real Property Administrator- A professional designation of BOMA
11
Q
3 types of Property Managers
A
1) Employee Manager- Works for a company
2) Resident Manager- Lives there
3) Independent Property Manager
