Chapter 16. Real Estate Management
A tenant makes a rental payment in cash. When is the property management
firm required to deposit the cash in the escrow account? - correct answer
✔immediately, but no later than three banking days after receipt
Which of the following actions is a property manager permitted to perform? A.
Prepare depreciation schedules for the property owner. B. Make capital
improvements to the property for the property owner when the property
manager deems them necessary for the property owner. - correct answer
✔Neither A nor B
A real estate broker acting as an owner's property manager may: - correct
answer ✔be held accountable for complete and accurate trust account
records
All of the following are important functions of a property manager, EXCEPT: -
correct answer ✔preparing the owner's income tax returns
The property manager's chief concern should be that the property: - correct
answer ✔is managed to achieve the highest rate of return possible for the
owner's investment
Functions of the property manager include all of the following, EXCEPT: -
correct answer ✔fulfilling fiduciary duties and obligations to the tenants
A property manager's primary obligation is to: - correct answer ✔the owner
The type of maintenance that is most often overlooked is: - correct answer
✔preventative maintenance
A tenant makes a rental payment in cash. When is the property management
firm required to deposit the cash in the escrow account? - correct answer
✔immediately, but no later than three banking days after receipt
Which of the following actions is a property manager permitted to perform? A.
Prepare depreciation schedules for the property owner. B. Make capital
improvements to the property for the property owner when the property
manager deems them necessary for the property owner. - correct answer
✔Neither A nor B
A real estate broker acting as an owner's property manager may: - correct
answer ✔be held accountable for complete and accurate trust account
records
All of the following are important functions of a property manager, EXCEPT: -
correct answer ✔preparing the owner's income tax returns
The property manager's chief concern should be that the property: - correct
answer ✔is managed to achieve the highest rate of return possible for the
owner's investment
Functions of the property manager include all of the following, EXCEPT: -
correct answer ✔fulfilling fiduciary duties and obligations to the tenants
A property manager's primary obligation is to: - correct answer ✔the owner
The type of maintenance that is most often overlooked is: - correct answer
✔preventative maintenance
