Property management

Question 1

One of the prime objectives of professional property management is:

Answer 1

To minimize expenses and to maximize profits

Question 2

A person or firm hired to manage property by banks, insurance companies, government agencies, trusts, etc., is referred to as a(n)

Answer 2

Institutional manager

Question 3

What form of lease is increased and specified intervals

Answer 3

Graduated lease

Question 4

which of the following is a reason for managers to keep accurate records?
A. Compliance with statutory requirements
B. Meeting the agent’s fiduciary obligation to the client
C. Substantiating records for filling income tax returns.
D. All of the above

Answer 4

All of the above

Question 5

An on-site manager of an 18-unit apartment building:

Answer 5

Is directly employed by the property owner / property management company.

Question 6

Which of the following is an example of blockbusting?

Answer 6

Persuading property owners to sell by telling them minorities are moving into the neighborhood.

Question 7

After two years, a landlord wants to get a month-to-month tenant out of his rental. He or she has to:

Answer 7

Give the tenant a 60-day notice.