DC Property Managers Study Guide Exam
Questions and Answers Latest Versions Top
Rated Guaranteed Pass
Market Analysis & Competitive Property Analysis helps to.....
Identify the subject property's strengths and weaknesses
The Highest & Best Use
When the property manager considers alternatives to improve the
property's weaknesses or further enhance its strengths to improve
overall economic performance.
Analysis of Alternative
Looks at the theoretical costs and corresponding increase in rents
by making different improvements, even property's
redevelopment.
When determining the best use of property, alternatives to
consider are.........
Rehabilitate without altering its existing use, Modernize by
updating finishes (more efficient equipment), Change the Use of
building (including conversion), or Conversion to a condominium
m ownership structure.
Capital Expenditures
Projects that help extend the property's life.
Physical Obsolescene
is characterized as a condition of aging (i.e. wear & tear) or
deferred maintenance. Examples are worn carpet, peeling paint, a
leaking roof, or dead landscaping
Functional Obsolescene
is characterized by old or outdated designs or building systems.
Economic Obsolesence
Represents a loss in value due to outside forces (i.e. location,
market conditions). Examples would be an office building, locates
in a small town, where the major employer closes.
, Investment Value
A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Loyalty to client, confidentiality, accurate accounting & reporting,
protection of owner's funds, conflicts of interest, and compliance
with law regulations.
An owner can be directly affected by manager's.....
Improper handling of evictions, unlawful rent collections, failure to
return security deposits, not maintaining proper compliance with
the Rental Accommodations Division (RAD)
The Management Agreement
is a formal and binding contract that establishes the authority and
responsibilities that a manager has on behalf of the owner.
Name of the owner & manager, term of agreement, describes
the property, describes services provided by manager,
identifies who collects rental payments, identifies whose
name all service contracts are to be made, when funds are
disbursed, whose employees work at the property, bank
accounts, fidelity bonds, identifies building licenses,
insurance requirements/ who secures policies, and
management fees compensation
Some provisions outlined in the Management Agreement include:
Reasons for termination of Management Agreement
Sale or transfer of the property, improper financial reporting,
stealing funds, negligence, taking kickbacks or benefiting directly
from discounts from vendors, commingling funds.
Comparison Analysis
Helps determine if the subject property's rental rates are
appropriate for the market.
Questions and Answers Latest Versions Top
Rated Guaranteed Pass
Market Analysis & Competitive Property Analysis helps to.....
Identify the subject property's strengths and weaknesses
The Highest & Best Use
When the property manager considers alternatives to improve the
property's weaknesses or further enhance its strengths to improve
overall economic performance.
Analysis of Alternative
Looks at the theoretical costs and corresponding increase in rents
by making different improvements, even property's
redevelopment.
When determining the best use of property, alternatives to
consider are.........
Rehabilitate without altering its existing use, Modernize by
updating finishes (more efficient equipment), Change the Use of
building (including conversion), or Conversion to a condominium
m ownership structure.
Capital Expenditures
Projects that help extend the property's life.
Physical Obsolescene
is characterized as a condition of aging (i.e. wear & tear) or
deferred maintenance. Examples are worn carpet, peeling paint, a
leaking roof, or dead landscaping
Functional Obsolescene
is characterized by old or outdated designs or building systems.
Economic Obsolesence
Represents a loss in value due to outside forces (i.e. location,
market conditions). Examples would be an office building, locates
in a small town, where the major employer closes.
, Investment Value
A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Loyalty to client, confidentiality, accurate accounting & reporting,
protection of owner's funds, conflicts of interest, and compliance
with law regulations.
An owner can be directly affected by manager's.....
Improper handling of evictions, unlawful rent collections, failure to
return security deposits, not maintaining proper compliance with
the Rental Accommodations Division (RAD)
The Management Agreement
is a formal and binding contract that establishes the authority and
responsibilities that a manager has on behalf of the owner.
Name of the owner & manager, term of agreement, describes
the property, describes services provided by manager,
identifies who collects rental payments, identifies whose
name all service contracts are to be made, when funds are
disbursed, whose employees work at the property, bank
accounts, fidelity bonds, identifies building licenses,
insurance requirements/ who secures policies, and
management fees compensation
Some provisions outlined in the Management Agreement include:
Reasons for termination of Management Agreement
Sale or transfer of the property, improper financial reporting,
stealing funds, negligence, taking kickbacks or benefiting directly
from discounts from vendors, commingling funds.
Comparison Analysis
Helps determine if the subject property's rental rates are
appropriate for the market.
