CRM CRM Maintenance & Capital Improvements 2

Question 1

Which metric is most useful for evaluating whether deferred maintenance is accumulating at a residential property?

Accepted Answer

Maintenance cost as a percentage of property value

Answer

Tracking maintenance costs as a percentage of property value over time reveals whether deferred maintenance is growing or being properly addressed.

Question 2

What does the term 'deferred maintenance' mean in property management?

Accepted Answer

Necessary repairs that have been postponed

Answer

Deferred maintenance refers to repairs and upkeep that were needed but deliberately or unintentionally postponed, often increasing future repair costs.

Question 3

Which federal law must property managers consider when planning maintenance work that may disturb paint in pre-1978 housing?

Accepted Answer

EPA Lead Renovation, Repair and Painting Rule (RRP)

Answer

The EPA's Lead Renovation, Repair and Painting Rule requires certified renovators and specific work practices when disturbing lead-based paint in pre-1978 housing.

Question 4

A property manager is budgeting for the upcoming year. Which approach to maintenance budgeting is considered best practice?

Accepted Answer

Historical cost analysis combined with property condition assessment

Answer

Combining historical maintenance data with a current property condition assessment produces the most accurate and defensible maintenance budget.

Question 5

What is the purpose of a property condition assessment (PCA)?

Accepted Answer

To evaluate the physical condition and identify repair needs of a property

Answer

A property condition assessment is a systematic inspection that documents the current physical condition of a property and identifies immediate and long-term repair needs.

(CRM) Certified Residential Manager Practice Test

(CRM) Certified Residential Manager Practice Test

CRM CRM Maintenance & Capital Improvements 2