Course Review Part 1 Flashcards
The tenant must be advised, in writing, of the name and address of whom?
Owner or manager
The tenant’s obligations of maintaining the unit require the tenant to:
Keep the dwelling unit safe and clean
The landlord may have access to the dwelling unit for regularly scheduled service:
9am-6pm
If a tenant requests that the landlord send someone over to spray for bugs, the pest control people may come:
Not earlier than 8 am or later than 8pm
What are the remedies for abuse of access by the landlord?
Injunctive relief, terminate rental agreement, get actual damage and reasonable attorney’s fees.
If the landlord is not in compliance with repairs, the tenant may:
Terminate the lease 14 days after the notice if repair is not made.
If the tenant fails to pay rent, landlord may:
Terminate the rental agreement.
What are the penalties for unlawful retaliation?
He/She may have to pay the tenant 3 month’s rent and treble actual damages.
Tenant Z complains about conditions to the state housing inspector. The next month, when the tenant’s lease is up, the building manager refuses to renew the lease this is:
Retaliation
When a tenant abandons a property, the landlord must:
Make reasonable efforts to rerent as doing so will mitigate damages and terminate the original lease.
In SC, a person who manages the property of others
Must be licensed as a PM, salesman or broker
When attempting to meet the owners objectives, the property manager should keep in mind that increasing net income by decreasing maintenance may have a ______________ effect:
Negative
The major responsibility of the property manager is to:
Obtain the highest possible return on the investment for the owner.
The property manager must develop a management plan to determine the _______________ of the property.
The optimum income potential
What type of property is a cooperative classified as?
Residential
Preventative maintenance should be geared toward eliminating ______________ maintenance .
Corrective
When a property manager, in the role of risk manager, buys insurance, he is employing which risk management technique.
Transferring risk
Not putting up a jungle gym in the playground is which risk management technique?
Avoidance
Would you tell interested buyers or tenants that the adjacent property has been rezoned for an office park?
Yes
Offering concessions to a tenant for referring tenants to a property is:
Illegal
If the lease states that the landlord will provide heat, the tenant whose apartment is freezing may break the lease claiming:
Constructive eviction
In the event the landlord fails or refuses to provide essential services, the tenant is permitted to:
Arrange for those services and deduct from the rent
Rents collected must be deposited in the:
Trust account
Can I, as the PMIC draw the interest earned on the money I am holding in my trust account?
Yes, with written consent from the owner of the funds
