Property Management Exam 1 with correct answers

Property Management Exam 1 with ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




correct answers ||\\||\\




goal of the resident manager - correct answers✔✔increase net
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operating income ||\\||\\




obligation of the manager - correct answers✔✔provide the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




highest quality of living environment to residents while ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




preserving the property's value and producing a profit for the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




owner


key to success of the resident manager - correct answers✔✔to
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work effectively with the on-site team
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site-based positions - correct answers✔✔leasing professional, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




assistant manager, bookkeeper, maintenance supervisor, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




maintenance technician, housekeeping, ground workers, door ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




staff and/or concierge, part-time or seasonal workers
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,major responsibilities of the resident manager - correct
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answers✔✔maintaining the property, managing the staff, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




managing the occupancy, providing good customer service, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




marketing the property, risk management ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




administration responsibilities of the resident manager - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔work within guidelines of formal management plan, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




maintain complete records, maintain system of account payable
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and receivable, make bank deposits, prepare budget, create a
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complete operations manual, create a resident handbook, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




upgrade security and safety procedures, collect rents, issue
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notices, process evictions, handle move-ins and move-outs,
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report accidents to regional manager
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operations responsibilities of the resident manager - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔hire employees, supervise team, coordinate ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




ordering of supplies, obtain cost estimates, set up control ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




system for service requests ||\\||\\ ||\\||\\ ||\\||\\




marketing responsibilities of the resident manager - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔prepare a marketing plan, set up model or rental ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




office, use good salesmanship techniques, qualify prospects and
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process applications, market within guidelines of fair housing
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, public relations responsibilities of the resident manager -
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correct answers✔✔communicate to create a good image for the
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property, resolve problems quickly, stimulate resident pride in
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property


how to be a great manager - correct answers✔✔focus on
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making life at the property a positive experience for the
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residents, be responsive to the team, walk the property, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




cultivate good communication skills ||\\||\\ ||\\||\\ ||\\||\\




conventional properties - correct answers✔✔residential rentals ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




that rent at market rates without government assistance,
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privately owned ||\\||\\




government-assisted housing - correct answers✔✔provides ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




housing for low to moderate income households, if managed ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




properly almost assured of 100% occupancy, more regulations ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




and paperwork, certificates not always accepted but must be
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accepted at tax credit properties ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\