CHAPTER 5: PROPERTY MANAGEMENT
EXAM
owner, live in apt manager, employee - Correct Answers -Which of the following may
manage a specific property without being licensed under a broker? (Indicate all correct
answers)
a. Owner
b. Live in apartment manager
c. Sales Agent
d. Employee managing property owned by employer
division of real estate - Correct Answers -B owns ABC Brokerage. His brokerage has
grown to include several contracts to manage property for others. He may open a
separate property management company and be the broker of that company by
applying with the ___________ of _______ Estate
Acquiring new clients - Correct Answers -In a property management company a real
estate sales agent license is required to perform the following duties
a. Accounting ledgers showing rents received and maintenance costs paid
b. Showing space available to prospective tenants and quoting predetermined rents
c. Filling out pre-printed lease forms
d. Acquiring new clients
T may choose to set up a separate property management company and remain the
broker of both enterprises - Correct Answers -T, a principal broker, owns and manages
S Brokerage Company. Many of his clients have asked if his company would manage
their investment properties. T has become persuaded to expand into property
management.
a. T may only manage property for others if he has registered his brokerage as a
property management company.
b. T may choose to set up a separate property management company and remain the
broker of both enterprises.
c. T must set up a separate property management division of his company and appoint
an associate broker as the property manager
d. T cannot be the broker of a brokerage and a property management company at the
same time.
EXAM
owner, live in apt manager, employee - Correct Answers -Which of the following may
manage a specific property without being licensed under a broker? (Indicate all correct
answers)
a. Owner
b. Live in apartment manager
c. Sales Agent
d. Employee managing property owned by employer
division of real estate - Correct Answers -B owns ABC Brokerage. His brokerage has
grown to include several contracts to manage property for others. He may open a
separate property management company and be the broker of that company by
applying with the ___________ of _______ Estate
Acquiring new clients - Correct Answers -In a property management company a real
estate sales agent license is required to perform the following duties
a. Accounting ledgers showing rents received and maintenance costs paid
b. Showing space available to prospective tenants and quoting predetermined rents
c. Filling out pre-printed lease forms
d. Acquiring new clients
T may choose to set up a separate property management company and remain the
broker of both enterprises - Correct Answers -T, a principal broker, owns and manages
S Brokerage Company. Many of his clients have asked if his company would manage
their investment properties. T has become persuaded to expand into property
management.
a. T may only manage property for others if he has registered his brokerage as a
property management company.
b. T may choose to set up a separate property management company and remain the
broker of both enterprises.
c. T must set up a separate property management division of his company and appoint
an associate broker as the property manager
d. T cannot be the broker of a brokerage and a property management company at the
same time.
