Chapter 17 Property Management

An office rents for $450 per month and measures 12 feet by 20 feet. The advertised annual rent per square foot would be
$22.50
All of the following are duties of a property manager EXCEPT
repairing tenant fixtures
Because of the complexity of today’s laws affecting properties, a property manager needs to be familiar with all of the following EXCEPT
investment securities laws
Successful managers do all of the following EXCEPT
keep on good terms with tenants by overlooking infractions for building rules
The manager of a commercial building has many responsibilities in connection with the operation and maintenance of the structure. The manager would normally be considered the agent of
The building’s owner
All of the following are different types of compensation from which a property management firm may receive income EXCEPT
a percentage of purchases made from suppliers
All of the following should be a consideration in selecting a tenant for the property EXCEPT
Ethnic background of the tenant and his or her employees
A property manger’s primary obligation is to
owners
The type of maintenance that is most often neglected is
preventive
The property manger’s chief concern should be that
the property is managed to achieve the highest overall rate of return possible on the owner’s investment
All of the following are important functions of a property manager EXCEPT
Preparing the owner’s income tax returns
All of the following are alternative risk management techniques EXCEPT
ignoring it
In determining rental amounts, a property manger considers the economic principle of
supply and demand
A high vacancy rate would NOT be caused by which of the following?
Very desirable amenities
Adaptations of property specifications to suit tenant requirements are
tenant improvements
A management agreement is to a property manager as a/n
listing agreement is to a broker
A real estate broker acting as an owner’s property manager
must not profit from private contracts at the expense of the owner