SU # 69__Business Operations Flashcards
How should you pay for emergency repairs?
credit card
line of credit
emergency fund
home equity loan
emergency fund
Another name for a program of routine maintenance is ___________________
deferred maintenance
emergency maintenance
planned maintenance
preventative maintenance
preventative maintenance
If the property manager uses an outside maintenance company to make repairs, the property manager should ________.
contract out the cleaning
Make sure the contractor is insured and bonded
never bid on a large project
limit the number of jobs the company does for the owner
Make sure the contractor is insured and bonded
Before making an improvement to a property, a property manager should do a ______________
return on investment analysis
capital forecast
market study
budget review
return on investment analysis
In Illinois, the city of Chicago requires that ALL residences be equipped with:
Proper lighting
Functioning carbon monoxide detectors
Privacy fences
Hallway lights in apartment buildings
Functioning carbon monoxide detectors
Which of the following is NOT a responsibility of the lessor?
Proper plumbing and gas
Smoke detectors
Proper garbage disposal
Heating facilities
Proper garbage disposal
A reserve study generally projects replacement of building components over the next ___
12 months
12 years
20 years
5 years
20 years
The EPA recommends that residential properties use _______ for lighting
incandescent
qualified compact fluorescent
vapor
tungsten
qualified compact fluorescent
Maintenance would not include which of the following?
Tree trimming
normal repairs
expanding the capacity of an air conditioner
replacement of air conditioning filters
expanding the capacity of an air conditioner
How are capital improvements handled on a tax return?
They are depreciated
They are written off as operating expenses
They are not scheduled
None of the above
They are depreciated
A good contractor will have which of the following?
worker’s compensation insurance
liability insurance
good credit rating
all of the above
all of the above
What is the most widely recognized certification program for rating “green” buildings?
Energy Star
LEED
BOMA
EPPA
LEED
What percentage of an office building’s operating cost is energy?
20%
10%
50%
30%
30%
Which of the following is among the four essential insurance policies for rental properties?
Dwelling policy
Contractor’s fidelity bond
Mortgage policy
Key man insurance
Dwelling policy
Which of the following would be a reason to use employees rather than contractors to perform services?
Less supervision
The cost of benefits
Lower overhead
Lower labor costs
Lower labor costs
