Question: Rafe is an assistant property manager of a large residential community. He wants someday to be promoted to property manager. Rafe needs to consistently learn his duties and responsibilities to the owner and demonstrate them accordingly. What duties/responsibilities should he focus on?

Answer: Fiduciary Responsibility to the Owner. Achieving the Highest Rate of Return for the Owner

Question: Sam is the owner of a ten-unit apartment complex. He has just hired a new property manager to run the property. Serena, the new property manager, has been drawing up a new set of management plans for the property. What should be the deciding factor in the adoption of the new plans?

Answer: The Owner’s Objectives. T he Fair Housing Laws

Question:

Answer: Escalator clause

Question: Penny and Joe rent an apartment in the Trade Winds apartment complex. They moved in one month earlier and signed a one year lease. Today the couple received a notice stating the complex has been sold and their lease will terminate at the end of thirty days. Is this a violation?

Answer: Yes, it is a violation. Leases do not terminate because a property is sold

Question: The duties of a property manager to an owner include which of the following?

Answer: Obtaining maximum profit on the property. Evaluating the Rental Market Handling Tenant Complaints and Conflicts

Question: How many, if any, escrow or trust accounts must a property manager maintain?

Answer: Two - One is for security deposits and one for current rents and management

Question:

Answer:

Question: Which of the following is not a part of a property management agreement?

Answer: Americans with Disabilities Act (ADA

Question:

Answer: Yes, Peter should be giving this position a second thought based on the clause. This type of clause is an Allowable Vacancy Rate

Question:

Answer: Yes, according to the ADA, the first priority is the “get to the door standard” that includes installing ramps, widening entrances, and providing accessible parking spaces