Property Management Questions and Answers Already Passed

Property Management Questions and Answers Already Passed The first practical elevator powered by electric was the Otis elevator The farming invention that freed labor from agriculture and allowed the growth of cities was the ____________ moldboard plow An owner who hires a property manager benefits from, a. increased rents b. reduced vacancy factors c. reduced repair costs d. all All of the above Qualities of a good property manager include; a. people skills b. ability to prioritize c. communication skills d. all of the above All of the above Generally, renting or leasing real property in an agency capacity required an: real estate broker's license A property had a gross annual income of $100,000. It sold for $650,000, the annual gross multiplier of the sale was 6.5 _______ is the most prestigious and widely recognized designation for professional property management? CPM An owner may be willing to accept a negative cash flow because of appreciation Cash flow is the cash left over after cash expenses One factor in evaluating real estate that the manager cannot change is the location What owners want is an integral part of a good management plan Zero based budgeting is based on the idea that every budget must be justified Your management plan should show: A. how you will arrive at a desired rent schedule b. your one year goals for the the property c. your 5 year goals for the property d. all the above d. all of the above A property management contract would provide for: a. the managers right to lease b. the managers right to collect rent c. the managers right to compensation d. all of the above d. all of the above National and local economic conditions will effect which aspect(s) of your management plan: a. rents b. vacancy factors c. costs d. all of the above d. all of the above The leasing commission for negotiating a multi-year lease would ordinarily be a percentage of the rent for the term of the lease The length of a property management contract should be related to the services provided and the owner reimbursement An agency coupled with an interest refers to an agency where the agent has advanced funds for rehabilitation of the property Within a property management contracts owners are not required to pay for advertising costs Which of the following is required for a valid lease?