Property Management Exam 2- with complete solutions | Verified & Updated 2024

Property Management Exam 2- with complete solutions | Verified & Updated 2024 High tenant turnover means increases for the landlord in - Answer ️️ -advertising expenses A record of lease renewal dates should be kept so that the property manager will know when to - Answer ️️ -contact good tenants in an attempt to retain them The establishment of good tenant relations begins with - Answer ️️ -joint inspection of the premises by the manager and tenant before move-in In which property is inspection of the premises with new tenant the most important? - Answer ️️ -residential What is most important in establishing tenant loyalty and friendliness? - Answer ️️ -the manager's personal efforts Tenant relations can be aided by - Answer ️️ -reviewing rent collection procedures with the tenant in a conference at the beginning of the lease The basic prerequisite for enlightened property maintenance is - Answer ️️ -getting the tenant's service requests to the appropriate parties What should be done when a tenant makes a service request? - Answer ️️ -Tenant should be told when it will be taken care of, or why it will not be What is the foundation of a good landlord and tenant relationship? - Answer ️️ -Good reputation for maintenance and management What should the manager do if a good tenant terminated the lease? - Answer ️️ -Immediately contact the tenant to find out why he is moving and, if possible, correct the situation The most critical factor in determining whether and how much of a rent increase to make is - Answer ️️ -the total net increase in income after accounting for move-outs due to the increase If rents are increased, the manager should - Answer ️️ -learn the logic behind the increase so he or she can explain it to the tenants The best way to get prompt payment of rent is to - Answer ️️ -have a clear-cut understanding of the requirements for payment and provisions for default The time between the rent due date and the announcement of action for recovery should be - Answer ️️ -a fixed, determined period