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Chapter 14 Property Management REAL ESTATE

Terms in this set (15)

Which of these functions is not performed by a property manager?
Preparing the property deed
Which of these is NOT a step in corrective maintenance?
Construct a new partition.
Which type of tenant insurance policy contains several types of coverage?
Package
What is a property manager's first responsibility to the owner?
Realize maximum profit.
When setting up a rent schedule, a property manager should analyze all but which of the following?
New home sales
Which of these items is not included in a lease agreement?
Alienation clause
What is the main difference between a condo and a co-op?
The form of ownership
A lease automatically terminates under which of the following circumstances?
Condemnation of the property.
What is one important difference between a sublease and a lease assignment?
In a sublease, the original tenant retains primary responsibility for performance of the original lease contract.
What kind of lease contains a recapture clause?
Percentage
Which of these items would be considered a variable expense?
Repairs due to flooding
What is an important task for a manager of a condominium or cooperative?
Physically managing the property
Which IREM designation is reserved for individuals who meet a certain level of education and experience?
CPM
Which is the most frequently recurring type of maintenance?
Routine
Which of the following would not be found in a management proposal?
Tenant credit histories
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