CRM Tenant Relations & Leasing 3

Question 1

A current tenant requests permission to sublet their unit for three months while they travel. What should the property manager do first?

Accepted Answer

Review the lease agreement for subletting provisions

Answer

The property manager should first review the lease to determine if subletting is permitted, prohibited, or requires written consent before responding.

Question 2

What does the term 'gross lease' mean in residential property management?

Accepted Answer

The landlord pays most or all operating expenses included in a flat rent

Answer

In a gross lease, the landlord pays most or all property operating expenses (taxes, insurance, maintenance) and charges the tenant a single flat rent amount.

Question 3

A tenant's lease is expiring and they have not responded to renewal notices. What is the best practice for a property manager?

Accepted Answer

Send a final written notice with a clear deadline for response and intention to re-market

Answer

Best practice is to send a final written notice with a firm response deadline, documenting all communication while protecting the property owner's financial interest.

Question 4

Under the Fair Housing Act, which of the following is NOT a federally protected class?

Accepted Answer

Source of income

Answer

Source of income (e.g., housing vouchers) is not a federally protected class under the Fair Housing Act, though many states and localities have added this protection.

Question 5

What is the purpose of a concession in residential leasing?

Accepted Answer

To provide an incentive such as free rent or reduced deposit to attract tenants

Answer

A leasing concession is an incentive offered to prospective tenants, such as one month free rent or a waived fee, to fill vacancies faster or compete with other properties.

(CRM) Certified Residential Manager Practice Test

(CRM) Certified Residential Manager Practice Test

CRM Tenant Relations & Leasing 3