Chapter 15 real estate management

Question 1

What is real estate management

Answer 1

Managing the property of another 4 fee

Question 2

How can property managers be paid

Answer 2

Can you pay with percentage, flat fees, per unit, combination

Question 3

What is the main role for a property manager

Answer 3

To maximize the owners net income

Question 4

Typical duties of property. Managers

Answer 4

Engage in competitive bidding and create market analysis on trends in their effects on the property

Question 5

Somethings property managers don’t do

Answer 5

Reinvest Profits, pay owners income tax and they don’t make capital improvements

Question 6

Three different types of maintaining the property

Answer 6

Preventative Which is before prom occurs

Corrective which is after prom occurs

And routine because there’s always a problem

Question 7

Since 1990 all public and commercial facilities must have

Answer 7

Handicap parking spaces proper restroom facilities in ramps for access

Question 8

Provisional broker handling money

Answer 8

P brokers must deliver Immediately to the bic

Question 9

How long must property managers keep records

Answer 9

Three years

Question 10

What is a trust account

Answer 10

A trustee Controls funds for the benefit of a third-party