commercial (residential) Flashcards
(25 cards)
What is a commercial residential provider?
A commercial residential provider is a business that offers housing or residential services on a commercial basis.
True or False: Commercial residential providers only operate in urban areas.
False
Fill in the blank: Commercial residential providers often manage __________ properties.
multiple
What are the primary services offered by commercial residential providers?
Property management, leasing, maintenance, and tenant services.
Which type of properties do commercial residential providers typically manage?
Apartments, condominiums, and multi-family homes.
Multiple Choice: Which of the following is NOT a responsibility of a commercial residential provider?
C) Selling real estate
What is the role of a property manager in a commercial residential provider?
To oversee the daily operations of residential properties and ensure they are well-maintained and occupied.
True or False: Commercial residential providers can also be involved in real estate investment.
True
Fill in the blank: Commercial residential providers must comply with __________ laws and regulations.
local, state, and federal
What is tenant screening?
The process of evaluating potential tenants to determine their suitability for renting a property.
Multiple Choice: Which of the following is a common tool used by commercial residential providers for marketing properties?
D) All of the above
What is the importance of maintenance in commercial residential properties?
To ensure tenant satisfaction, property value retention, and compliance with safety standards.
Short Answer: Name one challenge faced by commercial residential providers.
High tenant turnover.
True or False: Commercial residential providers are responsible for the eviction process.
True
Fill in the blank: Commercial residential providers often utilize __________ management software to streamline operations.
property
What is a lease agreement?
A legal contract between a landlord and tenant outlining the terms of rental.
Multiple Choice: What is the primary goal of a commercial residential provider?
D) All of the above
What is rent control?
A government regulation that limits the amount landlords can charge for rent.
True or False: Commercial residential providers do not need to worry about tenant privacy laws.
False
Fill in the blank: The __________ is the person responsible for making decisions on behalf of the commercial residential provider.
property manager
Short Answer: What is one benefit of using a commercial residential provider for property owners?
Professional management and expertise.
Multiple Choice: Which of the following is a key performance indicator for commercial residential providers?
D) All of the above
What is the significance of tenant retention for commercial residential providers?
It reduces costs associated with finding new tenants and stabilizes income.
True or False: Commercial residential providers can influence local housing markets.
True
