JUSTIN - PROPERTY MANAGEMENT
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS 2024
what are reversionary rights? - ANSWER owners get possession of the property after the lease expired
who must take special action (such as submitting a written request) to terminate an estate for years
when the lease expires? - ANSWER neither
money set aside for unexpected expenses is called ____ - ANSWER reserve funds
which type of agent has authority thats limited in scope and time? - ANSWER special agent
a gross rental income figure is only a rough estimate before it has been corrected by _____ - ANSWER
market trend adjustment
the focal point of up to date emergency response systems is ___ - ANSWER master central control panels
generally high occupancy rates correlate with ____ - ANSWER high demand
installing fire sprinklers, signs and physical barriers to warn people of hazards on the premises are
examples of _____ - ANSWER controlling risk
what is an acceptable reason for a manager to deny a rental application? - ANSWER insufficient length of
employment
what information does the absorption rate provide? - ANSWER square feet that have been historically
been leased in the area
what is a responsibility of a roving Life safety officer during an emergency? - ANSWER assist tenant
evacuation
, how can a manager provide an owner with a clear picture of whether the property is worth keeping and
how successful the manager has been? - ANSWER performance reports
which of the following things usually includes coverage from losses resulting from hail, explosions, and
windstorms? - ANSWER casualty loss
how many units of each type should be available for inspection by prospects? - ANSWER 3 of each type
and size
which type of leasehold estate involves a holdover tenant? - ANSWER tenancy at sufferance
what is a possible effect of a decrease in the number of potential tenants? - ANSWER the need for
property managers diminishes
who can you not split a commission with? - ANSWER an unlicensed person
where should expired leases be kept? - ANSWER separate system
an individual property manager is often also a(n) ____ - ANSWER real estate licensee
how can property managers create a drug-free property? - ANSWER complete repairs
when is prospecting complete? - ANSWER prospective tenant comes to the managers office or to the
building
the wise manager will build reserve funds into the comprehensive budget in order to cover which type of
expense? - ANSWER unexpected
how many elements are involved in a good life safety and security program? - ANSWER three
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS 2024
what are reversionary rights? - ANSWER owners get possession of the property after the lease expired
who must take special action (such as submitting a written request) to terminate an estate for years
when the lease expires? - ANSWER neither
money set aside for unexpected expenses is called ____ - ANSWER reserve funds
which type of agent has authority thats limited in scope and time? - ANSWER special agent
a gross rental income figure is only a rough estimate before it has been corrected by _____ - ANSWER
market trend adjustment
the focal point of up to date emergency response systems is ___ - ANSWER master central control panels
generally high occupancy rates correlate with ____ - ANSWER high demand
installing fire sprinklers, signs and physical barriers to warn people of hazards on the premises are
examples of _____ - ANSWER controlling risk
what is an acceptable reason for a manager to deny a rental application? - ANSWER insufficient length of
employment
what information does the absorption rate provide? - ANSWER square feet that have been historically
been leased in the area
what is a responsibility of a roving Life safety officer during an emergency? - ANSWER assist tenant
evacuation
, how can a manager provide an owner with a clear picture of whether the property is worth keeping and
how successful the manager has been? - ANSWER performance reports
which of the following things usually includes coverage from losses resulting from hail, explosions, and
windstorms? - ANSWER casualty loss
how many units of each type should be available for inspection by prospects? - ANSWER 3 of each type
and size
which type of leasehold estate involves a holdover tenant? - ANSWER tenancy at sufferance
what is a possible effect of a decrease in the number of potential tenants? - ANSWER the need for
property managers diminishes
who can you not split a commission with? - ANSWER an unlicensed person
where should expired leases be kept? - ANSWER separate system
an individual property manager is often also a(n) ____ - ANSWER real estate licensee
how can property managers create a drug-free property? - ANSWER complete repairs
when is prospecting complete? - ANSWER prospective tenant comes to the managers office or to the
building
the wise manager will build reserve funds into the comprehensive budget in order to cover which type of
expense? - ANSWER unexpected
how many elements are involved in a good life safety and security program? - ANSWER three
