Unit 19: Property Management Flashcards

1
Q

A property manager in a _______relationship with the property. Owner could be an independent contractor with great authority and discretion in the management decisions.

A

General agency

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2
Q

Agreement is also known as a…

A

Contract

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3
Q

A real estate agent is a…

A

Special agent

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4
Q

The first step in taking over the management of any property is to enter into a _______, a contract, creating a general agency relationship between the owner and the property manager

A

Management agreement

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5
Q

Rental rates are influenced primarily by…

A

Supply and demand

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6
Q

______Includes regularly scheduled activities, such as painting and seasonal servicing of appliances and systems

A

Preventative maintenance

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7
Q

Repair or ______involves the actual repairs that keep the buildings, equipment, utilities, and amenities functioning.

A

Corrective maintenance

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8
Q

A property manager also must supervise the _______ of the building.

A

Routine maintenance

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9
Q

A manager should use the same ____- application for every applicant

A

Lease

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10
Q

Avoid control transfer, and retain are all…

A

Risk management techniques

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