Property Management Exam 2, Complete Solution
High tenant turnover means increases for the landlord in
advertising expenses
A record of lease renewal dates should be kept so that the property manager will know when to
contact good tenants in an attempt to retain them
The establishment of good ...
Property Management Exam 2, Complete
Solution
High tenant turnover means increases for the landlord in
advertising expenses
A record of lease renewal dates should be kept so that the property manager will
know when to
contact good tenants in an attempt to retain them
The establishment of good tenant relations begins with
joint inspection of the premises by the manager and tenant before move-in
In which property is inspection of the premises with new tenant the most
important?
residential
What is most important in establishing tenant loyalty and friendliness?
the manager's personal efforts
Tenant relations can be aided by
reviewing rent collection procedures with the tenant in a conference at the beginning of
the lease
The basic prerequisite for enlightened property maintenance is
getting the tenant's service requests to the appropriate parties
What should be done when a tenant makes a service request?
Tenant should be told when it will be taken care of, or why it will not be
What is the foundation of a good landlord and tenant relationship?
Good reputation for maintenance and management
What should the manager do if a good tenant terminated the lease?
Immediately contact the tenant to find out why he is moving and, if possible, correct the
situation
The most critical factor in determining whether and how much of a rent increase
to make is
the total net increase in income after accounting for move-outs due to the increase
If rents are increased, the manager should
learn the logic behind the increase so he or she can explain it to the tenants
The best way to get prompt payment of rent is to
have a clear-cut understanding of the requirements for payment and provisions for
default
The time between the rent due date and the announcement of action for recovery
should be
a fixed, determined period
Three copies of an eviction notice should be prepared- one for the tenant, one for
the manager's attorney and a third for the
manager's file
Upon termination by a tenant, the property manager should
inspect the space after the tenant has removed all personal property
, What form should the manager use when inspecting the property after the tenant
has vacated?
move-in/move-out checklist
In most states, detailed and stringent security deposit statutes have been passed.
What must the landlord do?
He must itemize the deductions in a written statement.
Deductions from the security deposit are authorized by
nonpayment of rent, nonstandard decorating, excessive cleaning charges, and
damages to the premises.
Leases should be written to prohibit using security deposits as
last months rent
Jones vs. Mayer reaffirmed the Civil Rights Act of 1866 by prohibiting
all racial discrimination
Telling a potential tenant that there are no vacancies when there are is an
example of
steering
According to the Fair Credit Reporting Act, a loan applicant may
seek to correct errors on the report
Under the federal Equal Opportunity Act, the property manager who requires a
credit report on a prospective tenant can
evaluate the tenant based on income and debt ratios
When two managers negotiate rental rates it is known as
price fixing
Which of the following acts are permitted under the federal Fair Housing Law?
refuse to rent to an Asian American man because he has a poor credit history
If someone is found guilty of violating the Fair Housing Act of 1968, he or she
may be liable for actual damages and maximum punitive damages of
an unlimited amount
If a person feels that he has been discriminated against by a property manager, a
complaint may be filed with
the Department of Housing and Urban Development
Which of the following laws requires credit bureaus to supply information to a
person who has been denied credit?
Fair Credit Reporting Act
Lead based paint disclosure forms must be retained
for three years
Generally, if the tenant and landlord do not agree on the term of the tenancy, then
the tenancy is a
periodic tenancy
When the tenant makes a complaint to a government agency about a housing
code violation, the landlord can
correct the problem
Usually, if a fire destroys part of a residential property, the tenant may
prorate the rent deducting the portion he cannot use
The Landlord Tenant Act establishes
the owner's responsibilities
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.79. You're not tied to anything after your purchase.
