Unit 19 Flashcards
Unit 19
All of the following would cause a high vacancy rate Except
desirable amenities
A property manage can assess whether a particular advertising method worked to attract new tenants by preparing
a cost benefit analysis
a guest slips on an icy building stair and is hospitalized. A claim against the building owner for medical expenses may be paid under which of the following policies held by the owner?
liability
A property manager renting residential property may
require handicapped tenants to restore the premises at the end of the lease
All of the following should be included in a management agreement except
restrictions regarding ages of children
Personal as well as business related, services may be provided to building tenants under the umbrella of
Concierge Services
If the apt rents for $750. per month and the manager receives a 12% commission on all new tenants, how much will the manager receive when renting an apartment, assuming that the commission is calculated in the usual way?
$1080.00
Formula
$750 x 12 monts = 9,000
9000 x 12% = 1080.00
The scope of the managers work depends on
the management agreement
A statement sent to the owner that does not reflect the debt service as an expense is called
a profit and loss statement
What is the purpose of an operating budget for a property manager?
it is a guide for the property’s financial performance in the future
The person who assists a corporation with real estate investments, usually as an employee and not as an independent contractor is
a corporate property manager
of these a high vacancy rate most likely indicates
an undesirable property
In determining rental amounts, a property manager considers the economic principle of
Supply and demand
All of the following are important functions of a property manager except
preparing the owners income tax return
what type of plan does a property manager implement to manage renters that do not pay their rent in a timely way
collection plan
Rental rates are influenced primarily by the principle of
supply and demand
The property manager hires a full time maintenance person while repairing a faucet the maintenance person steals some jewelry and the tenant sues the landlord. The property manager can protect the owner against this type of loss by purchasing
a surety bond
The property managers chief concern should be that the property
is managed to achieve the highest overall rate of return possible on the owners investment
The responsibilities of the property manager, in both building amenities and employment issues have been impacted considerably by
The American disabilities act (ADA)
If the premises of 2,500 square feet are to be leased at a cost of $3.50 per square foot per month, what will be the annual rental cost of the space
$105,000
All of the following should be a consideration in selecting tenants for the property except
ethic background of the tenants and their employees
Residential leases are usually expressed as
a monthly rate per unit
A successful property manager has demonstrated the ability to
increase property income over previous levels
According to the fair housing act what is steering
channeling protected class members to certain buildings or neighborhoods
Managers who monitor a portfolio of properties similar to securities portfolio by analyzing the performance of the properties and making recommendations to the owners of the property are called
asset managers
Removing existing barriers when readily achievable in public buildings, such as adding braille markings to elevator buttons, is a requirement of which law?
Americans with disabilities act
