DC Property Managers Study Guide (DC Only Test) questions with answers

DC Property Managers Study Guide (DC
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Only Test) questions with answers
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Organizational and educational programs available to assist in |\ |\ |\ |\ |\ |\ |\ |\


enhancing the property manager's knowledge, identifying
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resources to resolve issues, and expanding their business
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network. - CORRECT ANSWERS ✔✔Institute of Real Estate
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Management (IREM), National Association of Realtors (NAR), |\ |\ |\ |\ |\ |\ |\


Greater Capital Area Association of Realtors (GCARR), building
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Owners & Managers Association (BOMA), National Association of
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Real Estate Brokers, International Council of Shopping Centers
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(ICSC), and National Property Management Association.
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An owner can be directly affected by manager's..... - CORRECT
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ANSWERS ✔✔Improper handling of evictions, unlawful rent
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collections, failure to return security deposits, not maintaining
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proper compliance with the Rental Accommodations Division
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(RAD)


Reasons for termination of Management Agreement - CORRECT
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ANSWERS ✔✔Sale or transfer of the property, improper financial
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reporting, stealing funds, negligence, taking kickbacks or
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benefiting directly from discounts from vendors, commingling
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funds.


What is the designation of the National Association of Real Estate
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Brokers, Inc (Nareb)? - CORRECT ANSWERS ✔✔Realtist
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, Alternatives to consider when making different improvements or
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when redeveloping a property - CORRECT ANSWERS
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✔✔Rehabilitation without altering existing use, Modernize the |\ |\ |\ |\ |\ |\ |\


property by updating finishes, Change the use of building,
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including converting to another property type, or demolishing for
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new development, or Conversion to a condo ownership structure.
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Actions that could put management company and owner at risk
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include: - CORRECT ANSWERS ✔✔Improper handling of evictions,
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unlawful rent collections, failure to return security deposit, not
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maintaining proper compliance with Rental Accommodations
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Division (RAD). |\




Property Manager's are entrusted to look after other people's
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money this includes: - CORRECT ANSWERS ✔✔Opening Bank
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Accounts, promptly depositing all receipts, and paying vendors
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when all services are completed.
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Physical Inspections - CORRECT ANSWERS ✔✔Is a method used
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to evaluate the property's condition & equipment as well as
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being the first step to develop a plan to address any issues.
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When should an inspection be performed after a resident has
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moved out? - CORRECT ANSWERS ✔✔Ideally the same day.
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Some areas to regular inspect include - CORRECT ANSWERS
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✔✔Roofs- look for pondering water, holes, and debris; Parking
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Lots- look for pavement alligator, loose graveling, potholes Front
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Entrance- look for trip hazards, cracked windows; Exterior
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Facades- failed caulking, loose concrete, crack windows.
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