ACTUAL EXAM COMPLETE QUESTIONS AND ANSWERS | 100%
RATED CORRECT | 100% VERFIED | ALREADY GRADED A+
Organizational and educational programs available to assist in enhancing the
property manager's knowledge, identifying resources to resolve issues, and
expanding their business network. - (answer)Institute of Real Estate Management
(IREM), National Association of Realtors (NAR), Greater Capital Area Association
of Realtors (GCARR), building Owners & Managers Association (BOMA),
National Association of Real Estate Brokers, International Council of Shopping
Centers (ICSC), and National Property Management Association.
An owner can be directly affected by manager's..... - (answer)Improper handling of
evictions, unlawful rent collections, failure to return security deposits, not
maintaining proper compliance with the Rental Accommodations Division (RAD)
Reasons for termination of Management Agreement - (answer)Sale or transfer of
the property, improper financial reporting, stealing funds, negligence, taking
kickbacks or benefiting directly from discounts from vendors, commingling funds.
, What is the designation of the National Association of Real Estate Brokers, Inc
(Nareb)? - (answer)Realtist
Alternatives to consider when making different improvements or when
redeveloping a property - (answer)Rehabilitation without altering existing use,
Modernize the property by updating finishes, Change the use of building, including
converting to another property type, or demolishing for new development, or
Conversion to a condo ownership structure.
Actions that could put management company and owner at risk include: -
(answer)Improper handling of evictions, unlawful rent collections, failure to return
security deposit, not maintaining proper compliance with Rental Accommodations
Division (RAD).
Property Manager's are entrusted to look after other people's money this includes: -
(answer)Opening Bank Accounts, promptly depositing all receipts, and paying
vendors when all services are completed.