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Chapter 10: Property And Asset Management Questions And Answers With Verified Solutions 100% Correct!!!
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Chapter 10: Property And Asset Management Questions And Answers With Verified Solutions 100% Correct!!!

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  • November 20, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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Chapter 10: Property And Asset
Management Questions And Answers
With Verified Solutions 100% Correct!!!
asset manager - ANSWER✔✔ a company executive charged with management fo
the firm's real estate facilities and activities

eviction - ANSWER✔✔ the tenant's rights of use and possession are terminated by
the court, and the tenant will be forcibly removed (if necessary) from the property
by a court officer (sheriff).

management agreement - ANSWER✔✔ establishes an agency relationship
between the owner of a property and the property manager. (should be written,
should specify: powers, obligations, compensation, term of agreement)

property manager - ANSWER✔✔ acts as an agent for the property owner with
respect to the leasing, marketing, and overall operation of the property. (The goal
of the property manager is to manage properties efficiently with the objective of
maximizing the property's value.)

sale-and-leaseback - ANSWER✔✔ a property owner sells the property to an
investor and immediately lease the property back from the investor.

security deposit - ANSWER✔✔ money collected from the tenant prior to granting
occupancy that protects the landlord from damages the tenant may cause or from
failure to pay rent as agreed.

professional associations and designations - ANSWER✔✔ provide professional
education and work to enhance status of professional property managers by
promoting conduct and performance standards and offering professional
designations.

property management - ANSWER✔✔ decisions that deal with day-to-day
operations

asset management - ANSWER✔✔ decisions that deal with the physical, financial,
or ownership structure

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