Answers PDF
1. If a property manager notices a decrease in demand for rental units in a
neighborhood, what action should they consider regarding the average rent
per unit?
Maintain the current rent regardless of demand
Eliminate rental applications to reduce vacancies
Increase the rent to maximize profits
Lower the rent to attract more tenants
2. What measurement is typically used to assess the size of a rental unit?
Acre
Hectare
Cubic meter
Square foot
3. Discuss the implications of community rules on a resident's ability to install
satellite dishes or antennas.
Community rules can limit a resident's ability to install satellite
dishes or antennas to maintain aesthetic standards or safety.
Community rules have no impact on a resident's ability to install
satellite dishes or antennas.
Community rules only apply to common areas, not individual units.
Residents can install satellite dishes regardless of community rules.
,4. Which of the following deductions may be withheld from a resident's deposit:
The resident's documented non-compliance with the residency
agreement
Damages to the property caused by the resident, excluding normal
wear and tear
A fee or charged uncured by the resident
All of the above
5. What is the primary factor that yield/revenue management systems take into
account when determining rent prices?
Market demand
Lease duration
Tenant credit scores
Property size
6. If a resident wishes to install a satellite dish but is informed that it violates
community regulations, what steps should they take to address this issue?
They should file a complaint with local authorities.
They should remove the dish immediately without discussion.
They should install the dish anyway and ignore the regulations.
They should review the community regulations and discuss potential
exceptions with property management.
7. If a property manager wants to increase rental income, how might they utilize
the average square foot per unit in their strategy?
, By eliminating square footage measurements from marketing
materials.
By increasing the size of each unit without changing prices.
By adjusting rental prices based on the average square foot per
unit.
By reducing the number of units available for rent.
8. Describe how yield/revenue management systems utilize market demand in
setting rental prices.
They ignore market trends and focus solely on property features.
Yield/revenue management systems adjust rental prices based on
fluctuations in market demand to maximize revenue.
They set fixed prices regardless of market conditions.
They only consider tenant preferences when setting prices.
9. What is the name of the federal act that mandates overtime pay for
employees working over 40 hours in a week?
Fair Labor Standards Act
Equal Employment Opportunity Act
Occupational Safety and Health Act
Family and Medical Leave Act
10. is the process of collecting, analyzing, and interpreting data about
customers, competition, and the business environment to improve marketing
effectiveness.
Marketing management
Competitive departmentalization
, Marketing research
Data synergy
Internal marketing
11. Why is it important to have detailed contracts when working with
contractors?
Detailed contracts are unnecessary if the contractor is trustworthy.
Detailed contracts outline expectations and responsibilities,
reducing the likelihood of misunderstandings.
Contracts should be verbal to maintain flexibility.
Contracts only serve to complicate the relationship with the
contractor.
12. Describe the purpose of implementing a progressive disciplinary process in
property management.
The purpose is to immediately terminate employees for any
misconduct.
The purpose is to avoid any form of communication with the
employee.
The purpose is to provide employees with opportunities to correct
their behavior before facing severe consequences.
The purpose is to ensure that all employees are treated equally
regardless of their actions.
13. What does Section 504 of the Rehabilitation Act of 1973 require federally
funded housing programs to be?
Limited to low-income families