*Property Management Quiz Flashcards
- Property Management manages which of the following types of property?
a. employee housing
b. excess properties
c. property held for future transportation projects
d. a & c
e. a, b & c
e. a, b & c
a. employee housing
b. excess properties
c. property held for future transportation projects
- What percentage of rents received from property acquired for state highway purposes is distributed to the counties?
a. 12 %
b. 33%
c. 24%
d. 25%
e. none
c. 24%
- Security deposits for furnished residential property are not to exceed an amount equal to:
a. 2 months rent
b. 1 months rent
c. 10% of annual rent
d. 10% of tenant’s annual gross income
e. 3 months rent
e. 3 months rent
- When a residential tenant vacates, the agent shall thoroughly inspect the property accomplishing all of the following except;
a. prepare the necessary accounting documents to close tenant’s file
b. noting and abating any hazardous conditions that may exist
c. arrange to have water shut off
d. arrange to have trash removed
e. report any lost or stolen property
c. arrange to have water shut off
- The Property Manager or designee shall inspect all rentable properties within 15 days after vacancies occur and not less than once a month thereafter as long as vacant.
TRUE FALSE
TRUE
- The written 90 day notice of a rental rate increase should include an explanation of the tenant’s right to appeal the imposition of a short term economic hardship caused by a rental increase.
TRUE FALSE
TRUE
- It is not necessary to inspect non-rentable property?
TRUE FALSE
FALSE
- The Property Manager or designee shall review rental rates on all residential properties at least every other year.
TRUE FALSE
FALSE
- The rental rate ordinarly charged to a qualifying affordable residential tenant is not more than ____% of the tenant’s gross monthly income.
a. 15%
b. 25%
c. 30%
d. rental rate is not based on tenant’s income
b. 25%
- Rent is due on the first day of each month and is considered late if not received by the:
a. 10th
b. 5th
c. 1st
d. 2nd
a. 10th
- Rent begins for owner occupant ________ after close of escrow:
a. next day
b. 30 days
c. 16th day
d. 15th day
c. 16th day
- Non-residential property repairs shall be limited to major items such as roofs, structural weaknesses and electrical deficiencies.
TRUE FALSE
FALSE
- Residential rental properties will be maintained in a manner that enhances local community values.
TRUE FALSE
TRUE
- Field inspections of all rentable properties shall be maintained _____ to ensure the properties are maintained.
a. 2 a year
b. every 6 months
c. once a year
d. every 4 months
c. once a year
- To protect its rental assets, Caltrans normally obtains fire insurance for improved rentable properties.
TRUE FALSE
FALSE
- Lease rates are based on comparable market rates with few exceptions.
TRUE FALSE
TRUE
- New outdoor advertising signs will be permitted on state owned properties, if a high income can be obtained.
TRUE FALSE
FALSE
- Rental offsets are not allowed for the following;
a. to expedite performance of certain repairs
b. where property has become run down and minor repairs are needed to secure a new tenant
c. to complete state repairs at state owned employee housing at remote maintenance stations
d. where there is a written agreement signed by the tenant and the state
e. rental offsets are allowed under all these circumstances.
e. rental offsets are allowed under all these circumstances.
- After eviction proceedings are started against a delinquent tenant, Accounting must accept payment from the tenant for overdue rent to minimize losses to the Dept.
TRUE FALSE
FALSE
- After Property Management determines a practical and orderly clearance, the RAP unit is responsible for all activities for vacating RAP eligible tenants.
TRUE FALSE
TRUE
- The department’s policy is to charge fair market rent with the following exceptions;
a. illness and age
b. hardship
c. rental rates that have been established by R/W contract
d. all of the above
e. b & c
e. b & c
b. hardship
c. rental rates that have been established by R/W contract
- State law imposes a specific legal obligation on the department to keep rental property in a condition fit for human occupancy regardless of conditions that exist at the time the property is acquired.
TRUE FALSE
TRUE
- Rent begins for businesses the next day unless a hardship occurs then you need the following:
a. HQ’s approval
b. R/W Chief approval
c. 60 days for moving time
d. get a grace granted
e. a & d
f. a, b & c
g. a, c & d
c. 60 days for moving time
- Federal and State laws specifically prohibit discrimination in housing accommodations based on:
a. student status
b. political affliation
c. sexual orientation
d. marital status
e. all of the above
e. all of the above
- To prevent later legal disputes with the lessees, PM should ensure that leases are recorded.
TRUE FALSE
FALSE
- A tenant’s failure to keep property in a neat, clean and orderly condition at all times during occupancy, including watering of shrubs and lawns, is a justifiable reason for terminating tenancy.
TRUE FALSE
TRUE
- It is mandatory that PM notify local law enforcement in all cases where property with a salvage or contributory value of more than $100 is lost or stolen.
TRUE FALSE
TRUE
- Pertinent factors to consider in determining rentability of properties the department acquires include;
a. size and location
b. accessibility
c. topography
d. lead time
e. all of the above
e. all of the above
a. size and location
b. accessibility
c. topography
d. lead time
- One test of ability to pay rent is that the applicant’s gross household income should equal or exceed three times the rental rate.
TRUE FALSE
FALSE
- With proper identification and a credit card guarantee, prospective tanants may be given keys that enable them to inspect state property on their own.
TRUE FALSE
FALSE
- PM will normally use the rental rate shown in the appraisal, it has the right to revise the rate if justified by more recent market data.
TRUE FALSE
TRUE
- A no re-rent policy for residential property is mandatory when the following conditions exist;
a. the project is environmentally cleared
b. the project is in the STIP or SHOPP
c. funds for normal R/W have been programmed
d. all of the above
e. none of the above
d. all of the above
a. the project is environmentally cleared
b. the project is in the STIP or SHOPP
c. funds for normal R/W have been programmed
- In the case of applicants under 21 years of age, cosigners may be used to qualify prospective tenants with insufficient income or credit.
TRUE FALSE
FALSE
- If an applicant is denied housing because of failure to meet the state’s standards, the denial must be in writing and the reasons for denial stated.
TRUE FALSE
TRUE
- When a new residential tenancy is created, one month’s rent or the prorated amount due for the balance of the month (based on a 30 day month) shall be collected.
TRUE FALSE
TRUE
- If a check for rent payment is returned by the bank because of insufficient funds, the rental account shall be treated as though in good standing until the check has been returned to the bank a second time.
TRUE FALSE
TRUE
- PM shall ensure that approved smoke detectors are installed in every occupied residential unit.
TRUE FALSE
TRUE
- All unrented state owned properties shall be maintained as well as or better than other properties in the neighborhood.
TRUE FALSE
TRUE
- Some of the more common maintenance and repair services the state shall provide include, but should not be limited to, such items as;
a. exterior/interior painting
b. yard maintenance
c. repair of roofs, windows, heater and built in appliances
d. repair of roofs, windows and heater
e. a, b & d
f. a, b & c
g. a & c
f. a, b & c
a. exterior/interior painting
b. yard maintenance
c. repair of roofs, windows, heater and built in appliances
- Special attention should be given to residential properties constructed prior to 1978 since lead based paint was widely used.
TRUE FALSE
TRUE
- Nominal rent is defined as;
a. interim rent charges
b. $100 per month/$1200 a year
c. low income rental rate
d. $200 a month/$2400 a year
e. depends on appraisal report
b. $100 per month/$1200 a year
- District PM must be aware of all potential and confirmed hazardous waste sites and any use of hazardous materials on future rights of way.
TRUE FALSE
TRUE
- Caltrans employees are not eligible to rent department owned residential properties.
TRUE FALSE
FALSE
- Which of the following is not an acceptable method for paying for supplies/materials needed for property maintenance up to $50;
a. petty cash
b. Cal-Card small purchase
c. Travel expense claim (TEC)
d. Cash expenditure voucher (CEV)
e. All of the above are acceptable methods
c. Travel expense claim (TEC)
- PM may waive the requirement for collection of a security deposit in the following instances;
a. moderate income tenants
b. governmental agencies
c. unimproved properties
d. all of the above
e. b & c only
e. b & c only
b. governmental agencies
c. unimproved properties
- It may be necessary to remove improvements prior to normal clearance scheduling because:
a. a local governmental agency has condemned the improvements
b. improvements have been damaged to the point that it is not economically feasible to restore them to rentable standards
c. PM does not have sufficient staff to manage additional rental property
d. B & C
e. A & B
f. All of the above
e. A & B
a. a local governmental agency has condemned the improvements
b. improvements have been damaged to the point that it is not economically feasible to restore them to rentable standards
- If PM suspects the presence of asbestos and lead paint the following must be followed;
a. special attention should be given to these properties
b. remove and dispose of these materials
c. maintenance of properties shall comply with all sate/federal regulations
d. do not rent these properties
d. do not rent these properties
- Many properties cannot be rented for more than nominal rent because of use, size, location or irregular shape.
TRUE FALSE
TRUE
- Lessees with nominal rent leases can be charged for weed abatement and trash removal.
TRUE FALSE
TRUE
- PM does not give out which type of notice to vacate?
a. 30 day standard notice
b. 30 day notice to pay rent or quit
c. Non Rap eligible 90 day courtesy notice
d. 3 day notice to pay rent or quit
b. 30 day notice to pay rent or quit
- Caltrans is responsible for furnishing utilities in which situations;
a. all rental properties
b. multiple residential unit w/coomon utilities
c. demanded by certain water & garbage companies
d. b & c
e. none of the above
d. b & c
b. multiple residential unit w/coomon utilities
c. demanded by certain water & garbage companies
- Internal control activities are performed not only to protect the integrity of departmental rental assets but also protect agents from accusations of fraud.
TRUE FALSE
TRUE
- Which of the following types of property are not normally leased using the department’s standard lease forms:
a. Rural residential property
b. Commercial
c. Industrial
d. Agricultural
e. Income residential under master tenancy
d. Agricultural
- All contracts for the performance of property maintenance are to be prepared by the Office of Service Contracts upon Property Managements request.
TRUE FALSE
FALSE
