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Property Management Questions And Answers With Verified Solutions 100% Correct!!!
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Property Management Questions And Answers With Verified Solutions 100% Correct!!!
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Property Management Questions AndAnswers With Verified Solutions 100%
Correct!!!
The primary function of the property manager is to - ANSWER✔✔ generate
greatest income for owner
One of the factos that has contributed to the development of property management
is the - ANSWER✔✔ invention of steel frame buildings and elevators
The oldest residential property management certification program in the US and
which is HUD supported is - ANSWER✔✔ ARM
Commercial real estate includes - ANSWER✔✔ office buildings
The largest demand for the services of the professional property manager is found
in what type of property - ANSWER✔✔ residential
Many business parks offer a combination of office and industrial space that is
divided into units of various sizes. These spaces are called - ANSWER✔✔
incubator spaces
Properties designed to meet specific needs of heavy industry are generally -
ANSWER✔✔ sold to investors and leased back
The professional manager, acting as agent for the owner, should - ANSWER✔✔
understand what the owner wants to achieve
which of the following BEST describes a market - ANSWER✔✔ exchange of
goods between buyers and sellers
The four phases of the business cycle are - ANSWER✔✔ expansion, recession,
contraction, revival
long term movements in the real estate industry may be__________ those in the
general economy - ANSWER✔✔ shorter than
, the residential rental market corresponds roughly to - ANSWER✔✔ cycles in
multifamily housing starts
The financial and operation strategy for the ongoing management of property is the
- ANSWER✔✔ management plan
a property manager can measure economic trends through all of the following
except - ANSWER✔✔ operating budget
if a property manager wants to find out if occupancy levels for a given type of
property are rising of failing, he or she should - ANSWER✔✔ survey comparable
properties
more available units than tenants indicates - ANSWER✔✔ technical oversupply
which of the following is the first step in the management plan? - ANSWER✔✔
prepare an operating budget
principal-agent relationship in property management is created by: - ANSWER✔✔
management agreement
the relationship that a property manager, who is an agent, has with the owner, who
is a principal, is: - ANSWER✔✔ fiduciary
If a property manager were negotiating with a property owner to manage a large
property, the term of the management contract should be at LEAST: -
ANSWER✔✔ one year
mixing owners funds with personal funds is an illegal activity called: -
ANSWER✔✔ commingling
how are management fees determined? - ANSWER✔✔ negotiated between the
parties
What type of fee is a wonderful incentive when the owner wants the manager to
generate more income - ANSWER✔✔ percentage fee
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