Real Estate Property Management 3

Question 1

Under the Americans with Disabilities Act (ADA), commercial property owners must provide:

Accepted Answer

Reasonable accommodations and accessible facilities for people with disabilities

Answer

The ADA requires places of public accommodation and commercial facilities to be accessible to people with disabilities, including accessible entrances, restrooms, and common areas.

Question 2

A property management agreement must include:

Accepted Answer

The scope of authority, management fee, and duration of the agreement

Answer

A management agreement defines the manager's authority, compensation (usually a percentage of collected rent), term, and responsibilities to create a valid agency relationship.

Question 3

A landlord may legally use information from a rental application to:

Accepted Answer

Screen for creditworthiness, rental history, and income verification

Answer

Landlords may use rental application data to evaluate financial stability, rental history, and income in a consistent, non-discriminatory manner.

Question 4

The implied warranty of habitability requires landlords to:

Accepted Answer

Maintain the premises in a safe, sanitary, and livable condition

Answer

The implied warranty of habitability is a legal doctrine holding landlords responsible for maintaining rental properties in a condition fit for human habitation.

Question 5

A lease renewal option gives the tenant the:

Accepted Answer

Right to extend the lease for an additional term at pre-agreed terms

Answer

A renewal option clause in the lease allows the tenant to extend the tenancy for a specified term, often at a predetermined rent or formula.

Real Estate Practice Test

Real Estate Practice Test

Real Estate Property Management 3