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Property Management Questions And Answers With Verified Solutions {GRADED A+}
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Property Management Questions And Answers With Verified Solutions {GRADED A+}
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Property Management Questions AndAnswers With Verified Solutions
{GRADED A+}
The demand for professional property management was influenced by -
ANSWER✔✔ The development and construction of multiple level buildings
George Holt was instrumental in building professional property management by -
ANSWER✔✔ Starting the first professional group of building mangers
organization
In Oregon, these individuals would need to have a property management license -
ANSWER✔✔ A person, for a fee, managing several properties for different
owners
An owner's expectations of a property manager would ordinarily include -
ANSWER✔✔ 1. Following their instructions
2. Maintain the building and preserve value
3. Be professional and follow the Fair Housing Laws
In Oregon, a separate license to practice property management started in -
ANSWER✔✔ 1998
A property manager's license could be suspended for - ANSWER✔✔ Conducting
business at a location not registered with the Real Estate Agency
A licensed property manager cannot - ANSWER✔✔ 1. List the owner's rental
property for sale
2. Receive a referral fee from a principal broker
3. Negotiate a lease-option for an owner of real estate
A license principal broker may - ANSWER✔✔ share a sales commission with an
employee
In Oregon, who may offer professional property management services? -
ANSWER✔✔ 1. a licensed principal broker
2. a licensed property manager
, 3. a licensed broker associated with a principal broker
This constitutes engaging in professional real estate activity as defined by Oregon
law? - ANSWER✔✔ I. A person who, for a fee, rents real estate owned by others
to the public.
II. A person, who for a fee assists owners in the procuring of prospective tenants
for the owners' rental property.
A licensed property manager may have another licensed property manager
supervise their business for a period of - ANSWER✔✔ 90 Days
In order for a property manager to renew their license how many hours of
continuing education must they complete? - ANSWER✔✔ 30 Hours
A licensed property manager may authorize - ANSWER✔✔ Another licensed
property manager to supervise her property management activity in her absence,
not to exceed 90 days.
A licensed property manager may not - ANSWER✔✔ 1. negotiate a lease-option
for an owner
2. Act on behalf of the principal broker during the brokers absence.
3. authorized an unlicensed individual to supervise in their absence
A licensed property manager may receive a fee for - ANSWER✔✔ 1. renting a
property for a client
2. collecting rent for a client
3. receive a referral fee on a lease
Collecting rents for clients and A person, for a fee, managing several properties for
different owners - ANSWER✔✔ requires a property management license
What might the Commissioner require as a condition to be licensed as a property
manager? - ANSWER✔✔ Proof of competence and trustworthiness
The number one reason why property management companies are audited is -
ANSWER✔✔ misuse of trust accounts
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