FREE RES Property Management Questions and Answers
What is a "security deposit" used for in a rental property?
A security deposit is collected by the landlord at the start of the lease to cover any damages to the property or unpaid rent when the tenant leaves.
Which of the following is a primary responsibility of a property manager?
A property manager is responsible for the upkeep and management of a property, including maintenance, repairs, and overall property operations.
What is the purpose of a lease agreement in property management?
A lease agreement is a legal document that specifies the terms, conditions, and responsibilities of both the landlord and the tenant during the rental period.
Which of the following is a typical responsibility of a property manager during tenant turnover?
During tenant turnover, the property manager inspects the property for damage, coordinates repairs, and prepares the unit for the next tenant.
Which of the following is an example of preventative maintenance in property management?
Preventative maintenance involves routine actions like replacing HVAC filters to prevent larger issues from arising, ensuring the property remains in good condition.