FREE RES Property Management Questions and Answers

Question 1

Which of the following is a primary responsibility of a property manager?

Accepted Answer

Maintaining and managing the physical property

Answer

Setting property tax rates

Answer

Hiring real estate agents for property sales

Answer

Determining property zoning laws

Question 2

What is the purpose of a lease agreement in property management?

Accepted Answer

To outline the terms and conditions under which the tenant rents the property

Answer

To transfer property ownership to the tenant

Answer

To increase the property’s market value

Answer

To establish property tax obligations

Question 3

Which of the following is an example of preventative maintenance in property management?

Accepted Answer

Replacing the HVAC filters on a regular schedule

Answer

Repairing a broken window after it’s reported by a tenant

Answer

Repainting the property to enhance its aesthetic appeal

Answer

Upgrading kitchen appliances to increase rental value

Question 4

What is a "security deposit" used for in a rental property?

Accepted Answer

To cover potential damage or unpaid rent after the tenant vacates

Answer

To cover the tenant’s future rent payments

Answer

To serve as a down payment on the property

Answer

To increase the landlord’s profit

Question 5

Which of the following is a typical responsibility of a property manager during tenant turnover?

Accepted Answer

Conducting a thorough inspection of the property

Answer

Selling the property to a new owner

Answer

Reappraising the property’s value

Answer

Reducing the property’s insurance coverage