Real Estate Property Management

Economics of property management; leases; record keeping; and antidiscrimination statutes.

1. With reference to the function of a property manager, which of the following is the responsibility of a property manager?

A. Obtain the best possible return on the owner's investment.

B. Preserve the owner's investment.

C. Provide financial records and accounts.

D. All of the above.

2. Leasehold estates that continue for an indefinite period of time include

I. estate for years.

II. tenancy at will.

A. I only B. II only C. Both I & II D. Neither I nor II

3. A tenant who pays rent plus some or all of the property taxes, insurance and maintenance is under which of the following lease agreements?

A. Percentage lease.

B. Sale and leaseback.

D. Proprietary lease.

4. In a sale-leaseback arrangement

I. the seller retains title to the real estate.

II. the purchaser receives possession of the property. A. I only B. II only C. Both I & II D. Neither I nor II

5. A lease can always be terminated by

I. selling the building.

II. death of the tenant.

III. abandonment of the leased premises by the tenant.

IV. expiration of the term of the lease.

A. II & IV only B. II & IIII only C. I, II, III & IV D. IV only

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