The property manager has a fiduciary duty with the owner and is considered a(n)

When a property manager binds a principal/owner to a contract, the manager is directly operating under the fiduciary duty of

A leasing agent’s primary responsibility is to

A property management agreement is classified as a

In a mortgage, the Nondisturbance clause benefits the

A property manager is responsible for the development of many documents for the owner. The creation of which of the following documents is NOT a responsibility of the property manager?

A lease must give the tenant

A tenant who remains in possession of the property after the lease has expired is called

An owner sold his 20-unit apartment building. Which of the following statements would be true in regards to the sale?

Which of the following is NOT the responsibility of the landlord?

If there is a low vacancy rate, the property manager should probably

Unless the lease agreement stipulates otherwise, the upkeep of the electrical, heating and plumbing systems would be the responsibility of the

when a lease is assigned, the assignee is the

A school leased a small, commercial shopping strip. When classes started, the other tenants started complaining to the landlord that the students of the school where taking up a majority of the parking spaces and their customers had no place to park. The lease required that the students park in spaces away from the other businesses. The school asked the students to park in assigned spaces, but most continued to park where it was convenient. The landlord evicted the school. is this action legal?

In which of the following arrangements would there be two landlord-tenant relationships?

A property manager collected a security deposit from a tenant and placed it in the owner’s business account. Is this action legal.

Upon purchasing a small apartment complex, the owner has the in-ground swimming pool filled in with concrete. This action is an example of

Rent is usually

An escalation clause would be found in a(n)

The purpose of calculating the rate of return is to

A potential tenant is inspecting a property built in 1970. The potential tenant must be given

The property manager may not commingle funds. This means the property manager should

When the lessee breaches the lease. It gives the lessors the right to proceed with

One of the property managers responsibilities is to keep the building equipment in working order. This action would fall under

When this state or local government restricts the amount of rent a lessor can charge, it is called

A management agreement usually covers which of the following items?

A property manager normally is charged with all of the following duties EXCEPT

Which of the following is the MOST IMPORTANT record kept by the property manager?

The tenant has agreed to pay a fixed monthly rent, a portion of the property taxes, and maintenance on a 1,200-square-foot retail space in a mall this lease is BEST described as a

Which of the following would a property manager least likely do?

Which of the following is the best method for attracting tenants to a property?

A person entered into a property management agreement with Baron Properties, Inc. the property management agreement most likely stipulates that he will be paid a percentage of

Which of the following criteria is the most important for a property manager who used to qualify and screen a potential tenant?

All the following events would probably terminate a residential lease agreement EXCEPT

What is the best way for a property manager to minimize problems with a tenant?

The primary goals of a property manager are to

Which of the following types of insurance would protect the owner from liability when an employee has been injured?

A property manager must take which of the following into consideration to determine the net operating income a property produces?

To compute the return on investment, a property manager must

An agent has become a manager of a property that is difficult to lease. Which of the following leases would she MOST LIKELY use to secure a contract with a prospective tenant?

The primary purpose of a profit and loss statement is to analyze

On a profit and loss statement, all of the following are entered EXCEPT

What do asbestos, radon and urea formaldehyde all have in common?

All of the following are grounds for constructive eviction EXCEPT

An operating budget allowed $2,500 for the property manager to buy new carpet. The property manager can negotiate a contract with a carpet company to purchase carpet for the property, as well as his or her personal residence, if

A blind person with a seeing eye dog wants to rent an apartment from the landlord who has a no pet policy landlord may

A buyer offered to purchase an occupied fourplex. Should this offer be accepted, which of the following is TRUE regarding the current releases?

Which of the following would NOT be a factor in the development of a marketing plan by the property manager?

Which of the following provisions is LEAST LIKELY to be found in a property management agreement?

Which of the following is an environmental hazard associated with leakage near electrical equipment?

All of the following occupancy terms are negotiated between a property manager and a prospective tenant EXCEPT

The duties and responsibilities of a property manager would be LEAST LIKELY to include which of the following?

A property manager has shown a prospective tenant an available apartment. Which of the following would NOT be a consideration in qualifying the potential tenant?

Which of the following does NOT normally terminate a lease?

A property manager is developing an operating budget. Which of the following is LEAST LIKELY to be considered an operating expense?

The owner of a fourplex lives in one unit and has an apartment available for rent. She would like for the new tenant to be a nonsmoker. Can she advertise the unit as a nonsmoking apartment?

a licensee negotiated a property management agreement with an owner. The property management agreement

To protect the owner against mismanagement of monies that the property manager receives the owner may require the manager to purchase a(n)

An automatic renewal clause would MOST LIKELY be found in which of the following leases?

A tenant pays a fixed rental amount and the owner pays all other ownership expenses for the property. The lease agreement they have negotiated is MOST LIKELY a(n)

The owner of an investment property died at 10 pm last night. Can the property manager collect rent checks that are due today?

A hurricane destroyed several apartment buildings in a community, creating an imbalance between supply and demand of rental units. If the local government imposes a law that restricts the amount of rent a landlord may charge, it is known as

A property manager hired a contractor to build a wheelchair ramp, install Braille markings on the elevator and make the restrooms in the lobby accessible to people with wheelchairs. The property manager is ensuring that the owner is in compliance with which law?

What is the MAJOR DIFFERENCE between an assignment and a sublease?

The implied warranty of habitability is BEST defined as the

Property management agreements must be

Which of the following terms could be found in a lease or a mortgage?

A property manager signed a two-year property management agreement with the owner. Has an agency relationship been created and if so, what type of agent is the property manager?

To compute the return on investment, a property manager would need all of the following figures EXCEPT

A property manager signed a lease agreement with a new tenant and collected a $500 security deposit check. She deposited the security deposit in a business bank account and did not disclose to the tenant the location of the money. Were her actions legal?