SC PROPERTY MANAGEMENT EXAM (2024-2025) 100
% CORRECT
Security Deposit - <<<Answers>>>A monetary deposit from
the tenant to the landlord which is held in trust by the landlord
to secure the full and faithful performance of the terms and
conditions of the lease agreement
Obligation of Good Faith - <<<Answers>>>Every duty and
every act which must be performed as a condition precedent
to the exercise of a right or remedy imposes an obligation of
good faith in its performances or enforcement.
Notice; Person has notice of a fact if: - <<<Answers>>>The
person has actual knowledge of it, the person has received a
notice or notification of it or from all the fact and
circumstances know to him at the time in question he has
reason to know that it exists. A person "knows" or "has
knowledge" of a fact if he has actual knowledge of it.
If landlord owns: - <<<Answers>>>Rents more than four
adjoining dwelling units on the premises and imposes
different standards for calculating security/rental deposits
required of different tenants on the premises, then, prior to the
consummation of the rental agreement the landlord shall
either post in a conspicuous place on the premises or at the
consummation of the rental agreement or at the place at which
rental is paid a statement clearly indicating the standards by
which such security/rental deposits are calculated.
, SC PROPERTY MANAGEMENT EXAM (2024-2025) 100
% CORRECT
Redlining - <<<Answers>>>A process by which banks draw
lines on a map and refuse to lend money to purchase or
improve property within the boundaries.
Not in the statute - <<<Answers>>>Homosexuality,
bisexuality, compulsive gambling, Kleptomania, Various
sexual disorders, Transvestitism, person presently engaging in
the use of drugs or alcohol.
Smoke Detectors - <<<Answers>>>Law has been in affect
since July 1, 1995 and was retroactive at its inception. They
have 15 days to install a smoke detector or to repair or replace
the detector. May result in a misdemeanor and fined $50-200
with jail time with 2nd and 3rd offense.
Megan's Law - <<<Answers>>>legislation requiring that
communities be alerted to the presence of sex offenders
100 x 200 = 200,000 x's amount per sq. foot divided by what?
- <<<Answers>>>Annually, monthly, or weekly
The Magic T - <<<Answers>>>Commission, Return on
Investment, Return on Equity. Larger = Rent collected, total
envestment, equity invested. Smaller = Commision, net
operating income, net operating income. Decimal=
Commission rate, rate of return, rate of return.
, SC PROPERTY MANAGEMENT EXAM (2024-2025) 100
% CORRECT
Recapture Clause - <<<Answers>>>Provision in a percentage
lease permitting the landlord to cancel the lease if gross sales
do not meet some specified amount.
Landlord Failing to Comply - <<<Answers>>>The difference
between security/rental deposit required of the tenant and the
lowest deposit required of any other tenant of a comparable
dwelling unit on the premises is not subject to deductions for
damages by reason of the tenant's noncompliance.
Landlord/Tenant Damages - <<<Answers>>>This does not
preclude the landlord or tenant from recovering other damages
to which they may be entitled under this section.
Subject to Provisions - <<<Answers>>>The holder of the
landlords interest in the premises at the time of the
termination of the tenancy is bound by this.
Disclosure - <<<Answers>>>A landlord or any person
authorized to enter into a rental agreement on behalf shall
disclose to the tenant in writing at or before the
commencement of the tenancy the name and address of an
owner of the premises or a person authorized to act on behalf
of the owner as agent, inter ailia, for purposes of service of
process and receiving or receipting notices or demands.
Information Required - <<<Answers>>>To be furnished by
this section must be kept current and this section extends to
% CORRECT
Security Deposit - <<<Answers>>>A monetary deposit from
the tenant to the landlord which is held in trust by the landlord
to secure the full and faithful performance of the terms and
conditions of the lease agreement
Obligation of Good Faith - <<<Answers>>>Every duty and
every act which must be performed as a condition precedent
to the exercise of a right or remedy imposes an obligation of
good faith in its performances or enforcement.
Notice; Person has notice of a fact if: - <<<Answers>>>The
person has actual knowledge of it, the person has received a
notice or notification of it or from all the fact and
circumstances know to him at the time in question he has
reason to know that it exists. A person "knows" or "has
knowledge" of a fact if he has actual knowledge of it.
If landlord owns: - <<<Answers>>>Rents more than four
adjoining dwelling units on the premises and imposes
different standards for calculating security/rental deposits
required of different tenants on the premises, then, prior to the
consummation of the rental agreement the landlord shall
either post in a conspicuous place on the premises or at the
consummation of the rental agreement or at the place at which
rental is paid a statement clearly indicating the standards by
which such security/rental deposits are calculated.
, SC PROPERTY MANAGEMENT EXAM (2024-2025) 100
% CORRECT
Redlining - <<<Answers>>>A process by which banks draw
lines on a map and refuse to lend money to purchase or
improve property within the boundaries.
Not in the statute - <<<Answers>>>Homosexuality,
bisexuality, compulsive gambling, Kleptomania, Various
sexual disorders, Transvestitism, person presently engaging in
the use of drugs or alcohol.
Smoke Detectors - <<<Answers>>>Law has been in affect
since July 1, 1995 and was retroactive at its inception. They
have 15 days to install a smoke detector or to repair or replace
the detector. May result in a misdemeanor and fined $50-200
with jail time with 2nd and 3rd offense.
Megan's Law - <<<Answers>>>legislation requiring that
communities be alerted to the presence of sex offenders
100 x 200 = 200,000 x's amount per sq. foot divided by what?
- <<<Answers>>>Annually, monthly, or weekly
The Magic T - <<<Answers>>>Commission, Return on
Investment, Return on Equity. Larger = Rent collected, total
envestment, equity invested. Smaller = Commision, net
operating income, net operating income. Decimal=
Commission rate, rate of return, rate of return.
, SC PROPERTY MANAGEMENT EXAM (2024-2025) 100
% CORRECT
Recapture Clause - <<<Answers>>>Provision in a percentage
lease permitting the landlord to cancel the lease if gross sales
do not meet some specified amount.
Landlord Failing to Comply - <<<Answers>>>The difference
between security/rental deposit required of the tenant and the
lowest deposit required of any other tenant of a comparable
dwelling unit on the premises is not subject to deductions for
damages by reason of the tenant's noncompliance.
Landlord/Tenant Damages - <<<Answers>>>This does not
preclude the landlord or tenant from recovering other damages
to which they may be entitled under this section.
Subject to Provisions - <<<Answers>>>The holder of the
landlords interest in the premises at the time of the
termination of the tenancy is bound by this.
Disclosure - <<<Answers>>>A landlord or any person
authorized to enter into a rental agreement on behalf shall
disclose to the tenant in writing at or before the
commencement of the tenancy the name and address of an
owner of the premises or a person authorized to act on behalf
of the owner as agent, inter ailia, for purposes of service of
process and receiving or receipting notices or demands.
Information Required - <<<Answers>>>To be furnished by
this section must be kept current and this section extends to
