Property Management - Need To Know Flashcards Preview

Utah Real Estate > Property Management - Need To Know > Flashcards

Flashcards in Property Management - Need To Know Deck (8)
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1

A property manager's contract usually contains:

The managers fiscal responsibilities.

2

Property managers are normally paid on the basis of:

Percentage of gross income, or gross rents

3

A property manager works for the best interest of:

The owner

4

How would a property manager violate ECOA?

Decline credit based on age

5

Tenant moved out of a warehouse and left his attached shelves, which were classified as trade fixtures. What is the responsibility of the landlord?

Recognize the shelves belong to the tenant, and the tenant has 30 days to return or remove them.

6

An agent manages here 6-plexus for an owner. Two have positive cash flow, but the other needs repairs and has vacancies. What money can the agent use to make repairs?

Income from the income producing units, with the owners permission.

7

In times of inflation, a property manager would likely avoid what type of lease?

Fixed rent

8

A property manager has a 500 unit apartment complex with seven vacancies. What is the vacancy factor?

7 / 500 = 1.4%