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22-property management questions & answers latest update
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22-property management questions & answers latest update
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22-property managementproperty managers in NY - correct answer ✔✔for those wanting to specialize in property management
career, a rela estate license is a must
property manager - correct answer ✔✔oversees the management of a number of properties for various
owners
building manager - correct answer ✔✔manages just one building
resident manager - correct answer ✔✔represents a property management firma nd may live on the
premises of the building that he or she manages
BOMA international-building owners and manager association - correct answer ✔✔professional
organization that offers educational courses for property managers as they continue their career
RPA-real property administer- if awarded to those who complete
the institute of real estate management -IREM - correct answer ✔✔national association of realtoers
affiliate group that offers eduation and gives out ARM -accredited residential manager and CPM-
certified property mnager
NARPM- national association of residential property managers - correct answer ✔✔manage single family
dwellings gives out PPM-professional property manager and MPM master property manager
leasehold estate - correct answer ✔✔type of interest that gives the holder temporary right to exclusive
possession of that real estate without actually having title to property
estate for years - correct answer ✔✔-any leasehold estate for a fixed time period with specific beginning
and ending date
-terminates automatically at end of specific period
, -not terminated by the death of either party
terminating estate for years - correct answer ✔✔neither tenant or landlord can terminate early unless
mutual agreement
periodic tenancy - correct answer ✔✔last for an identified period of but does not have termination date
and automatically renews itself
most commom periodic tenancy - correct answer ✔✔month to month
tenancy at will - correct answer ✔✔no specified termination date and no regular rental period
tenancy at sufferance - correct answer ✔✔possession of property by a tenant who originally has a right
to live on the property but stays once lease expires without permission
anchor tenant - correct answer ✔✔major department or chain store stratigically located within a
shopping center to give maximum exposure to smaller satellite stores
general agent - correct answer ✔✔authorized to represent the principal in a broad range of matters as
specificed as part of a long term relationship
3 main jobs of a property manager - correct answer ✔✔-fulfill the goals and objectives of owners
-create income for owners
-maintain or increase the property's value
management agreememt - correct answer ✔✔governs the relationship between the owner and the
property manager
management authority - correct answer ✔✔outlines what a property manager is authorized to handle
typical duties of property manager - correct answer ✔✔selecting tenants and leasing units
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