CRM Property Management Operations 3

Question 1

A property manager discovers a unit has mold growth after a tenant reports it. What is the correct sequence of actions?

Accepted Answer

Document, notify the owner, remediate promptly, and follow up

Answer

Prompt documentation, owner notification, and remediation protect tenant health and minimize legal liability for the property owner.

Question 2

The Americans with Disabilities Act (ADA) most directly affects residential property managers by requiring:

Accepted Answer

Accessible common areas in properties with public accommodations

Answer

ADA primarily requires accessible public accommodation areas; the Fair Housing Act governs reasonable accommodations in housing units.

Question 3

Which metric measures the percentage of available rental units that are currently occupied?

Accepted Answer

Occupancy rate

Answer

Occupancy rate is calculated as occupied units divided by total available units, expressed as a percentage.

Question 4

A lease clause that automatically renews the tenancy for another term unless either party gives notice is called a:

Accepted Answer

Automatic renewal clause

Answer

An automatic renewal clause extends the lease for an additional period unless proper advance notice is given by either party.

Question 5

When preparing an annual operating budget for a residential property, which expense category is typically the largest?

Accepted Answer

Maintenance and repairs

Answer

Maintenance and repairs typically represent the largest operating expense category for most residential properties.

(CRM) Certified Residential Manager Practice Test