Property Management Practices Flashcards
7 cards from real CRM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Property Management Practices flashcards as text
A property manager receives a fair housing complaint alleging discriminatory advertising. Which of the following ad descriptions would most likely violate the Fair Housing Act?
Answer: 'Perfect for couples, no children preferred'
Expressing a preference against children in advertising violates the Fair Housing Act's familial status protection.
When preparing an annual operating budget, a residential manager should base expense projections primarily on:
Answer: Historical costs adjusted for known changes and market trends
Budgets should be grounded in historical data adjusted for anticipated changes like inflation, upcoming repairs, or contract renewals.
A tenant is 10 days late on rent and has not responded to phone calls. What is the proper first formal step to begin the collections process?
Answer: Serve a written pay or quit notice as required by state law
A written pay or quit notice is the legally required first step before filing for eviction in virtually all U.S. jurisdictions.
Which of the following is an example of a capital expenditure (CapEx) rather than an operating expense?
Answer: Replacing the entire roof of a building
Replacing a roof is a capital expenditure because it extends the useful life of the asset, unlike routine operating costs.
In a residential community, a property manager notices that common areas have become a gathering spot for non-residents. The best course of action is to:
Answer: Post clear rules, increase lighting, and enforce resident-only policies
Posting rules, improving lighting, and enforcing policies proactively addresses security concerns while maintaining a welcoming community.
A property manager is responsible for ensuring that maintenance staff are paid correctly and legally. Which of the following is the manager's obligation under federal law?
Answer: Comply with Fair Labor Standards Act (FLSA) requirements including overtime pay
The FLSA requires that eligible employees receive overtime pay at 1.5x their regular rate for hours worked over 40 per week.
A property manager is showing a unit and a prospective tenant asks whether any registered sex offenders live nearby. The manager should:
Answer: Refer the prospect to publicly available sex offender registry information
Managers should direct prospects to the public sex offender registry rather than making statements that could be inaccurate or create liability.