Study Guide for 302 Post Licensing Test
Questions and Answers Rated A+
What is the purpose of a property management budget?
✔✔ To plan and track income and expenses related to the management of a rental property.
How should a property manager handle a tenant's request for a lease renewal?
✔✔ Review the current lease terms, negotiate any changes if needed, and provide a new lease
agreement.
What is the role of a property manager in handling tenant disputes?
✔✔ Mediate between tenants, address concerns according to the lease agreement, and seek
resolution in a fair manner.
What must be done if a tenant fails to comply with the lease agreement?
✔✔ Issue a formal notice of violation and follow legal procedures for enforcement or eviction if
necessary.
What is a property manager’s responsibility regarding insurance for rental properties?
1
, ✔✔ Ensure that adequate insurance coverage is maintained for the property and inform the
owner of any required updates.
What is the typical process for addressing a tenant’s request for property modifications?
✔✔ Evaluate the request, determine if it meets lease terms, and obtain approval from the
property owner before proceeding.
How should a property manager document property maintenance issues?
✔✔ Keep a detailed log of maintenance requests, actions taken, and any follow-up required.
What is a common strategy for marketing rental properties?
✔✔ Use online listings, social media, and traditional advertising methods to reach potential
tenants.
How does a property manager handle utility payments for a rental property?
✔✔ Ensure utilities are paid on time, and clarify with tenants who is responsible for each utility
as specified in the lease agreement.
What should be included in a tenant move-in checklist?
2
Questions and Answers Rated A+
What is the purpose of a property management budget?
✔✔ To plan and track income and expenses related to the management of a rental property.
How should a property manager handle a tenant's request for a lease renewal?
✔✔ Review the current lease terms, negotiate any changes if needed, and provide a new lease
agreement.
What is the role of a property manager in handling tenant disputes?
✔✔ Mediate between tenants, address concerns according to the lease agreement, and seek
resolution in a fair manner.
What must be done if a tenant fails to comply with the lease agreement?
✔✔ Issue a formal notice of violation and follow legal procedures for enforcement or eviction if
necessary.
What is a property manager’s responsibility regarding insurance for rental properties?
1
, ✔✔ Ensure that adequate insurance coverage is maintained for the property and inform the
owner of any required updates.
What is the typical process for addressing a tenant’s request for property modifications?
✔✔ Evaluate the request, determine if it meets lease terms, and obtain approval from the
property owner before proceeding.
How should a property manager document property maintenance issues?
✔✔ Keep a detailed log of maintenance requests, actions taken, and any follow-up required.
What is a common strategy for marketing rental properties?
✔✔ Use online listings, social media, and traditional advertising methods to reach potential
tenants.
How does a property manager handle utility payments for a rental property?
✔✔ Ensure utilities are paid on time, and clarify with tenants who is responsible for each utility
as specified in the lease agreement.
What should be included in a tenant move-in checklist?
2
