R E Ch 18 Property Management

Making repairs as tenants call into the office to report problems is known as:

Corrective maintenance

To do business as a Nevada property manager, a person must:

Have a real estate license and a property management permit.

Nevada's property management permit requires the individual to complete a course of how many hours?

24

One who preserves the value of an investment property while generating income as an agent for the owners is known as:

A property manager.

Which of the following organizations issues a Certified Property Manager Designation?

The Institute of Real Estate Management.

A real estate broker or broker-salesperson must have obtained a property management permit and had active experience in the field of property management before he is permitted to become:

A designated property manager.

Which of the following does a property management agreement not contain?

A statement of the lessee's purpose.

Which of the following duties does a property manager not owe a tenant?

Loyalty.

A property management permit expires

When the permittees real estate license expires

Under the ADA, which of the following is considered the "first priority"?

"Get to the door standard" that includes installing ramps, widening entrances and providing accessible parking spaces.

Usually, a property management firm is paid by a

percentage of the rents collected.

The agency relationship between a property manager and a property owner is that of a

general agent

• The _________ is the profit (or loss) on an investment over a specific period of time.

• rate of return

a property manager owes a tenant the same duties that a licensee owes to a buyer when the licensee is acting as the seller's agent. These duties are:

Honesty

Accuracy

Disclosure