Chapter 13 - Property Management Flashcards
The Unruh Civil Rights Act is a
California act
the California act that prohibited steering and blockbusting was the
Unruh Civil Rights Act
the refusal of a loan or Insurance based upon a property’s location is called
redlining
if an agent is asked to discriminate in the sale of a property the agent
must refuse the listing
besides residential, the basic types of income-producing properties include
industrial property, commercial Office Buildings, retail property
licensed real estate brokers who represent more than one owner and managing more than one property are referred to as
outside managers
the most profitable, physically possible, and legally permissible use for a property is described as
highest and best use
a noticed that the tenant has three days to pay all past due rent or vacate the property or phase in an unlawful detainer is called a
a three day notice to pay rent or quit
any rental agreement that ends over one year from the date of signing
must be in writing
a residential property is usually rented under the terms of a
gross lease
ultimately who is responsible for the management of the homeowners association
the board of directors
a person who, or entity that for compensation or an expectation of compensation, exercise has control over the assets of a common interest development is referred to as the
managing agent
as a property manager, your responsibilities will include
maintenance of the building, caring for mechanical equipment, planning the implementing and modernization program
delaying the fixing of existing repairs is called
deferred maintenance
by California law, no governmental agency can adopt any rent-controlled restrictions on
industrial property, commercial office property, retail property
