FREE REM Property Management Questions and Answers

Question 1

Which of the following is a core duty of a property manager?

Accepted Answer

Managing tenant relations and lease agreements

Answer

Purchasing real estate for investment

Answer

Setting property tax rates

Answer

Conducting home inspections for buyers

Question 2

What is the primary goal of property management?

Accepted Answer

Maximizing the property's value and income

Answer

Minimizing tenant turnover

Answer

Reducing maintenance costs

Answer

Ensuring compliance with zoning laws

Question 3

Which document outlines the terms and conditions of a tenant's occupancy?

Accepted Answer

Lease agreement

Answer

Property deed

Answer

Mortgage contract

Answer

Property management plan

Question 4

What should a property manager do if a tenant consistently pays rent late?

Accepted Answer

Issue a formal warning or notice of non-compliance

Answer

Evict the tenant immediately

Answer

Increase the rent as a penalty

Answer

Negotiate a revised payment schedule

Question 5

Which of the following is a responsibility of a property manager when managing maintenance tasks?

Accepted Answer

Hiring and supervising maintenance staff or contractors

Answer

Personally repairing all property issues

Answer

Only responding to emergency repairs

Answer

Ignoring minor tenant complaints