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AZ Real Estate Agent License 2020 > Landlord Tenant Act, Prop Mgmt, Plan Com and HOA's 19 > Flashcards

Landlord Tenant Act, Prop Mgmt, Plan Com and HOA's 19 Flashcards

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1
Q

Real Estate that Deals with Leasing**, **Managing**, **Marketing**, and **Maintenance of Property for Others and For a Fee.

A

Property Management -

Real Estate that Deals with Leasing**, **Managing**, **Marketing**, and **Maintenance of Property for Others and For a Fee

Chap 19

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2
Q

AZ Residential - Landlord and Tenant Act

  1. Applies to Rental Dwelling Units.
    * DOES NOT apply to:
  2. C____ Prop____
  3. H____ and M_____
  4. Religious Ser___ H_____
  5. School D_______
  6. P___ H_______ (Bars)
  7. Vacation Rental By Owner (VRBO) - “May Apply”
  8. Air Bed Breakfast (Air B&B) - “May Apply”
  9. Prohibits Discrimination - Tenant w Child
A

AZ Residential Landlord and Tenant Act -

  1. Applies to rental dwelling units.
    * DOES NOT apply to
  2. Commercial Properties
  3. Hotels and Motels
  4. Religious Service Housing
  5. School Dormitories
  6. Public Housing (Bars)
  7. Vacation Rental By Owner (VRBO) - “May Apply”
  8. Air Bed Breakfast (Air B&B) - “May Apply”
  9. Prohibits Discrimination - Tenant w Child

Chap 19

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3
Q

(Landlord and Tenant Act)

Landlord Obligations -

  1. Security Deposit - Including Prepaid Rent - (___ Rent Max)
  2. Refundable (if stated) - Dep___, Cl______, Redec______
  3. Itemized Stmt - _ _ Days of Termination - To Use Security Deposit for Damages/Rent.
  4. Landlord Noncompliance - Subject To __x Security Deposit as Damages.
A

(Landlord and Tenant Act)

Landlord Obligations -

  1. Security Deposit - Including Prepaid Rent - (1 1/2 Rent Max)
  2. Refundable (if stated) - Deposits, Cleaning, Redecorating
  3. Itemized Stmt - 14 Days of Termination - To Use Security Deposit for Damages/Rent.
  4. Landlord Noncompliance - Subject To 2x Decurity Deposit as Damages.

Chap 19

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4
Q

Under Landlord and Tenant Act -

Landlord docs - must give tenant - (3 Items)

  1. L____ - Signed
  2. M___ I_ Form - Tenant List Damages
  3. M__-O__ No___ - Written Notice that Tenant May Be Present at this Final Inspecion
A

(Landlord and Tenant Act)

Landlord docs - must give tenant -

  1. Lease - Signed
  2. Move-In Form - Tenant list damages
  3. Move-Out Notice - Written Notice that Tenant may be Present at this Final Inspecion

Chap 19

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5
Q

Under Landlord and Tenant Act what are Landlord Disclosures?

Landlord Must Disclose -

  1. Per____ Aut______ to Manage Property
  2. Owner or O____ Ag_____ - for Service Process
  3. Land___ Ten___ Act - free copy avail through AZ Dept of Housing.
A

(Landlord ; Tenant Act)

Landlord Must Disclose -

  1. Person Authorized to Manage Property
  2. Owner or Owner’s Agent - for Service Process
  3. Landlord Tenant Act - free copy avail through AZ Dept of Housing.

Chap 19

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6
Q

Under Landlord and Tenant Act, - Security Deposit Requirements

  1. Security Deposit - (Including Prepaid Rent) Not Exceed __ of Rent.
  2. Refundable (if not stated non-refundable) - (3) Dep___, Cl____, Red___
  3. Itemized Stmt - (to tenant) __ Days from Termination.
  4. Landlord Noncompliance (Landlord Damages are) ___x Security Deposit
  5. Non-Refundable Fees - Cl__ning and P____ Fees may be required Above Security Deposit
A

(Landlord and Tenant Act)

Security Deposit Requirements -

  1. Security Deposit - (Including Prepaid Rent) Not Exceed 1 1/2 rent
  2. Refundable (if not stated non-refundable) - Deposits, Cleaning, Redecorating
  3. Itemized Stmt - to tenant 14 Days of Termination - To Use Security Deposit for Damages/ent.
  4. Landlord Noncompliance - Subject to 2x Security Deposit as Damages.
  5. Non-refundable Fees - Cleaning/Pet Fee may be required Above Security Deposit

Chap 19

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7
Q

Landlord Tenant Act - Landlord Compliance

  1. State Codes: H____, S____, Bui_____
  2. Premises: F___, Hab____ and S____
  3. Mech Equip: W___ 0rd____
  4. Trash: Have Dum___ and Remo____
  5. Water/Air: H___ and C____
A

(Landlord and Tenant Act)

Landlord Compliance (Conditions) -

  1. Health, Safety and Building Codes
  2. Premises - Fit, Habitable and Safe
  3. Mech Equip - Working Order
  4. Trash Have Dumpsters and Removal
  5. Water/Air - Hot/Cold

Chap 19

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8
Q

Under Landlord and Tenant Act

Tenant’s Obligations

  1. Use Premises - S__ Manner
  2. Keep Premises - Cl_____
  3. Use Mech Equip - In Reas_____ Man_____
  4. Not Destroy/Deface - Pre_______
  5. Rules/Regulations - Fo_______
A

(Landlord and Tenant Act)

Tenant Obligations -

  1. Use Premises - Safe Manner
  2. Keep Premises - Clean
  3. Use Mech Equip - In Reasonable Manner
  4. Not Destroy/Deface - Premises.
  5. Rules/Regulations - Follow

Chap 19

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9
Q

Under Landlord and Tenant Act

Entering Tenant’s Premises -

  1. Notice to Tenant - __ Days by Landlord
  2. Emergency - N_ N______
A

(Landlord and Tenant Act)

Entering Tenant’s Premises -

  1. Notice to Tenant - 2 days by Landlord
  2. If Emergency - No Notice

Chap 19

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10
Q

(Landlord and Tenant Act)

Non-Compliance of Landlord (Tenant May):

Deliver Notice to Terminated Lease In -

  1. Breach of Health, Safety Hazard Materials, No Heat, Air, Water - __ days
  2. Misc Breaches - __ days
A

(Landlord and Tenant Act)

Non-Compliance of Landlord (Tenant May):

Deliver Notice to Terminated Lease In -

  1. Breach of Health, Safety Hazard Materials, No Heat, Air, Water - 5 Days
  2. Misc Breaches - 10 Days

Chap 19

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11
Q

(Landlord and Tenant Act)

For Tenant Repairs

S___ H___ for Minor D____

  1. Written Notice to Landlord - Health/Safety (__ Days)/ Misc (__ Days).
  2. Hire Licensed Contractor - Reasonable Cost - Greater of $____ max or H___ R____ (If Landlord does not promptly repair)
A

(Landlord and Tenant Act)

Self-Help for Minor Defects -

  1. Written Notice - to Landlord to remedy (Health Safety: 5days/Misc: 10days)
  2. Hire Licensed Contractor - Reasonable Cost - Greater of: $300 max or Half/Rent. (if landlord does not promptly repair minor defects)

Chap 19

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12
Q

(Landlord and Tenant Act)

Estate for Period (Indefinite- Month to Month) - To Terminate?

  1. Landlord Notice - ___ Day Notice to Terminate.
  2. If Tenant Given Notice on March 15 - When must they vacate (With 30 day notice)?
A

(Landlord and Tenant Act)

Estate for Period (Periodic - Indefinite - Mo to Mo)

  1. Landlord Notice - 30 Day Notice to Terminate

Example: If Month to Month and landlord gives notice on March 15 tenant must vacate by May 1st. So notice starts on next 1st of month April.

Chap 19

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13
Q

(Landlord and Tenant Act)

Tenant Fails to Pay Rent, Landlord May Begin Eviction By

  1. Written Notice T__ P__ - Pay within __ days
  2. Civil Courts - File a S____ D____ A_____
  3. Hold P_____ P_____ (Distraint) then S____ - ILLEGAL IN AZ
A

(Landlord and Tenant Act)

Tenant Fails to Pay Rent, Landlord may Begin Eviction By

  1. Written Notice to Pay - Pay within 5 days
  2. Civil Courts - Special Detainer Action
  3. Hold Personal Property (Distraint) and then Sell - ILLEGAL IN AZ

Chap 19

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14
Q

(Landlord and Tenant Act)

If Tenant Abandons Premises what happens?

  1. N____ of Aba________ - by Cert___ M___ to Tenant and must (“Post on Door” - __ days) before enter.
  2. P____ Pro____ (Distraint)- held for (___days) After Which Time Landlord May Sell Property and Apply to Unpaid Balance. Distraint - Illegal in Arizona
A

(Landlord and Tenant Act)

If Tenant Abandons Premises

  1. Notice of Abandonment - by Certified Mail to Tenant and must (“Post on Door” - 5 days) before enter.
  2. Personal Property - held for (14 days) After Which Time Landlord May Sell Property and Apply to Unpaid Balance. Distraint - Illegal in Arizona

Chap 19

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15
Q

Tenant (Domestic Violence Victim) -

May Term____ L_____, without Pen____

A

(Landlord and Tenant Act)

Tenant (Domestic Violence Victim) -

May Terminate Lease, without Penalty.

Chap 19

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16
Q

(Landlord and Tenant Act)

Holding Tenant’s Personal Property for back rent is abolished in Arizona, but is called?

Study These Flashcards
A

(Landlord and Tenant Act)

Distraint -

Holding Tenant’s Personal Property for back rent is abolished in Arizona

Chapp 19

17
Q

(Landlord and Tenant Act)

Court System that deal with Disputes of Landlord-Tenant Act?

Study These Flashcards
A

(Landlord and Tenant Act)

Civil Courts -

Handle Disputes of Landlord-Tenant Act

Chap 19

18
Q

(Landlord and Tenant Act) These items pertain to what problem?

  1. Existing Bedbug Infestation - Landlord M__ N__ Enter into Lease with Tenant.
  2. Bedbug Educational Materials - Must Be Provided by L______
  3. Materials Infested with Bedbugs - Tenant - Shall Not Move Mat____ into Apt.
  4. Bedbugs Found - Tenant - Must Notify Landlord by Wr_____ or El_____ Mail
  5. Landlord/Tenant of SFR are Ex_____ from Provisions of BedBug Laws.
Study These Flashcards
A

(Landlord and Tenant Act) Bedbug Control -

  1. Existing Bedbug Infestation - Landlord May Not Enter into Lease with Tenant.
  2. Bedbug Educational Materials - Provided By Landlord
  3. Materials infested with bedbugs - Tenant - Shall Not Move Material into Apt.
  4. Bedbugs Found - Tenant - must Notify Landlord by Written or Electronic Mail
  5. Landlord/Tenant of SFR are Excluded from Provisions of BedBug Laws.

Chap 19

19
Q

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property For Others For a Fee.

  1. Broker (Property Manager)
  2. Broker (G_____ Agent) - of Owner
  3. Handles More Than One Property - Must be Licensed.
  4. Broker/Agent - Fiduciary Relationship to Owner (CARLOD - Compentency, Accounting, Reasonable Care, Loyalty, Obedience, Disclosure)
  5. Agent Represents Broker.
Study These Flashcards
A

Property Management -

Real Estate that Deals with Leasing, Managing, Marketing, and Maintenance of Property For Others For a Fee.

  1. Broker (Property Manager)
  2. Broker (General Agent) - of Owner
  3. Handles More Than One Property - Must be Licensed.
  4. Broker/Agent - Fiduciary Relationship to Owner (CARLOD - Compentency, Accounting, Reasonable Care, Loyalty, Obedience, Disclosure)
  5. Agent Represents Broker.

Chap 19

20
Q

People are concerned with Getting the Highest Net Return on the Owner’s Investment and Protecting Owner From Foreseeable Risk.

Duties Include:

  1. Lease Units 6. Advertising
  2. Vacancies 7. Rpts to Own
  3. Collect Rents 8. Supplies
  4. Keep Accounts 9. Hire Emps
  5. Maintenace 10. Remods

Recommendations for:

  1. Liability & Fire Insurance
  2. Workman’s Comp Insurance
Study These Flashcards
A

Property Managers -

People are concerned with Getting the Highest Net Return on the Owner’s Investment and Protecting Owner From Foreseeable Risk.

Duties Include:

  1. Lease Units 6. Advertising
  2. Vacancies 7. Rpt to Own
  3. Collect Rents 8. Supplies
  4. Keep Accounts 9. Hire Emps
  5. Maintenace 10. Remods

Recommendations for:

  1. Liability & Fire Insurance
  2. Workman’s Comp Insurance

Chap 19

21
Q

Property Mgmt Agmts shall state:

  1. Prop Mgmt Service - Te__ and Con______
  2. Prop Mgr - Obl____, Dut_____ and Resp________
  3. Signed By - O____ and Designated Br_____
  4. Time Frames - B____ and T_____ Dates
  5. Can________ Prov_________
  6. Required Disposition - Mon____ Col______.
  7. Status Reports - Specify Ty__ and Freq_______
  8. Operating Reserves - State Am____/Purpose held for Emer_____
  9. T____ Acct - Disposition/Allocation Interest Earned (Remove Every __ Months)
  10. Com_______ - State Terms/Conditions of Owner
  11. No Assignment - Without Ow___ Con_____.
Study These Flashcards
A

Property Management Agreements shall state:

  1. Property Mgmt Services - Terms/Conditions
  2. Obligations, Duties and Responsibilities
  3. Signed: by Owner and Designated Broker
  4. Begin/Termination Date
  5. Cancellation Provisions
  6. Requirement for Disposition of Monies Collected.
  7. Status Reports - Specify Type and Frequency
  8. Operating Reserve - State Amount/Purpose held for Emergencies
  9. Trust Acct - Disposition/Allocation Interest Earned (Remove Every 12 months)
  10. Compensation - State Terms/Conditions of Owner
  11. No Assignment - Without Owners Consent.

Chap 19

22
Q

Property Management Accounts

  1. All Pro_____ Mgmt Ac______ shall be designated as Trust Accounts.
  2. Designated Broker, Agents, Employees May Sign Checks, but OWNER M__ N__ S____!
Study These Flashcards
A

Property Management Accounts

  1. All Property Management Accounts shall be Designated as Trust Accounts.
  2. Designated Broker, Agents, Employees may sign checks, but OWNER MAY NOT SIGN!

Chap 19

23
Q

Property Management (Record Keeping)

  1. Residential Property:
  2. Leases/Finder Fee - (_ yr) After Termination
  3. Financial - (__ yrs)
  4. Commercial Properties - (__ years)
  5. Property Mgmt Agmts - Terminated - To Owner in:
  6. (5 days) - Security Deposit List
  7. (35 days) - Reimbursement All Monies in Accounts
  8. (75 days) - Final Accounts Receivable/Payable List
  9. (75 days) - Final Bank Account Reconciliation
Study These Flashcards
A

Property Management (Record Keeping)

  1. Residential Property:
  2. Leases/Finder Fee - (1 year) After Termination
  3. Financial - (3 years)
  4. Commercial Properties - (5 years)
  5. Property Mgmt Agmts - Terminated - Give owner in;
  6. (5 days) - Security Deposit List
  7. (35 days) - Reimbursement All Monies in Accounts
  8. (75 days) - Final Accounts Receivable/Payable List
  9. (75 days) - Final Bank Account Reconciliation

Chap 19

24
Q

Finders Fee Payments may be Paid to an Unlicensed Person who is a Tenant in a Apartment Complex.

Must be:

  1. R___ Cr_____
  2. R___ Red_______
  3. C____t be Ca__
Study These Flashcards
A

Finders Fee Payments to Tenants

Finders Fee Payments may be Paid to an Unlicensed Person who is a Tenant in a Apartment Complex.

Must be:

  1. Rent Credit
  2. Rent Reduction
  3. Cannot be Cash

Chap 19

25
These are **Property Management Situations** that are **Legal or Illegal**? 1. **_Agent/Associate Broker_** **Acting Outside of Brokerage** as **Management.** 2. **_Unlicensed Person_** providing Property Management Services, **to More that One Property**.
**Property Management Situations - Both Illegal** 1. **_Agent/Associate Broker_** **Acting Outside of Brokerage** as **Management.** 2. **_Unlicensed Person_** providing Property Management Services, **Illegal if handling more than one property.** **Chap 19**
26
**P\_\_\_\_\_\_\_ C\_\_\_\_\_\_\_** **A Real Estate Development** which Includes **Real Estate** **0wned by An Association** created for purpose of the following is called? 1. **Prop\_\_\_\_ Du\_\_\_\_\_** - **Managing, Maintaining, and Improving.** 2. **Sep\_\_\_\_\_Owned Par\_\_\_** - **Owners Manda\_\_\_\_ Members** and are **required to** **pay Ass\_\_\_\_\_\_ Assessments.** 3. **_Resale_** - **\_\_ days** **Written Notice of Pending Sale** and **Docs Delivered to Purchaser if:** 1. **_49 Units or Less_** - **S\_\_\_\_\_ Provides** 2. **_50 units or more_** - **Ass\_\_\_\_\_ Provides**
**Planned Community -** **A Real Estate Development** which Includes **Real Estate** **0wned by An Association** created for purpose of 1. **_Property Duties_** - **Managing, Maintaining, and Improving.** 2. **_Separate Owned Parcels_** - **Owners Mandatory Members** and are **Required to** **Pay Association Assessments.** 3. **_Resale_** - **10 days** **Written Notice of Pending Sale** and **Docs Delivered to Purchaser if:** 1. **_49 Units or Less_** - Seller Provides 2. **_50 units or more_** - Association Provides **Chap 19**
27
**Resale Units - Planned Community** _**Written Notice of Pending Sale -** **(\_\_days) Buyer must receive**_: 1. **By-L\_\_\_\_** and **Ass\_\_\_\_ Rules** 2. **Dec\_\_\_\_\_\_\_** - of Planned Community 3. **_Name_** **- Prin\_\_\_\_\_ Con\_\_\_\_\_** **of Association** 4. **Association Ass\_\_\_\_\_\_\_ - Amount** 5. **Ins\_\_\_\_\_\_ Stmt** - Partial Coverage paid by Assoc 6. **Res\_\_\_\_\_\_** - Total Monies Held 7. **Oper\_\_\_\_ Bud\_\_\_\_\_/Fin\_\_\_\_\_ Rep\_\_\_** - Current Copy 8. **Alt\_\_\_\_\_\_/Impr\_\_\_\_\_\_** - **In Violation** 9. **Lit\_\_\_\_\_ Pen\_\_\_\_**- On Unit to Owner or Association * **_1-49 units_** - Seller must provide * **_50+ units_** - Association must provide info. **Board meets Annually - Complies with Open Mtg Laws**
**Resale Units - Planned Community** **_Written Notice of Pending Sale - (10days) Buyer must receive:_** 1. **_By-Laws_** and **Association Rules** 2. **_Declaration_** - of Planned Community 3. **_Name_** **- Principal Contact** **of Association** 4. **_Association Assessment_ - Amount** 5. **_Insurance Stmt_** - Partial Coverage paid by Assoc 6. **_Reserves_** - Total Monies Held 7. **_Operating Budget/Financial Reports_** - Current Copy 8. **_Alterations/Improvements_** - **In Violation** 9. **_Litigation Pending_** - On Unit to Owner or Association * **_1-49 units_** - Seller must provide * **_50+ units_** - Association must provide info. **Board meets Annually - Complies with Open Mtg Laws** **Chap 19**
28
This **Person** concerned with **getting Highest Return on Owner's Investment** and **Protecting the Owner from Foreseeable Risk.**
**Property Manager -** This **Person** concerned with **getting Highest Return on Owner's Investment** and **Protecting the Owner from Foreseeable Risk.** **Chap 19**
29
**Property Mgmt Agreement - Must State** 1. **Ser\_\_\_\_\_, Obligations, and D\_\_\_\_\_\_.** 2. **Signed by Owner and Broker,** 3. **Begin and End D\_\_\_\_\_,** 4. **Can\_\_\_\_\_\_\_ Provisions,** 5. **Conditions of Comp\_\_\_\_\_\_\_** 6. **Freq\_\_\_\_\_ of Status Reports,** 7. **Deposition of all Monies,** 8. **Op\_\_\_\_\_ Reserves,** 9. **Trust Account - Interest Ea\_\_\_\_\_** 10. **Not assigned to Another without Consent**
**Property Mgmt Agreement -** This Document Must State all "Material Terms, regarding 1. **Services, Obligations, and Duties.** 2. **Signed by Owner and Broker,** 3. **Begin and End dates,** 4. **Cancellations Provisions,** 5. **Conditions of Compensation** 6. **Frequency of Status Reports,** 7. **Deposition of all Monies,** 8. **Operating Reserves,** 9. **Trust Account - Interest Earned** 10. **Not assigned to Another without Consent** **Chap 19**
30
**Property Management (Record Keeping)** 1. _Property Mgmt Agmts - Terminated_ - To Owner in: 1. **(\_\_days)** - Security Deposit (List) 2. **(\_\_ days)** - Reimbursement All Monies in Accounts 3. **(\_\_ days)** - Final Accounts Receivable/Payable list 4. **(\_\_ days)** - Final Bank Account Reconciliation
**Property Management** **(Record Keeping)** 1. _Property Mgmt Agmts - Terminated_ - Give owner in; 1. **(5 days)** - Security Deposit (List) 2. **(35 days)** - Reimbursement All Monies in Accounts 3. **(75 days)** - Final Accounts Receivable/Payable list 4. **(75 days)** - Final Bank Account Reconciliation **Chap 19**
31
**What are first 5 material terms** of the **Property Management Agreement?** **Hint: Signed Service Begins or Cancelled Compensation** 1. **Ser\_\_\_\_, Ob\_\_\_\_\_, and Du\_\_\_\_.** 2. **Signed by O\_\_\_ and B\_\_\_\_\_,** 3. **B\_\_\_\_ and E\_\_ dates,** 4. **Can\_\_\_\_\_\_\_ Pro\_\_\_\_\_\_\_,** 5. **Conditions of Com\_\_\_\_\_\_\_\_\_\_\_**
**Property Management Agreement (Terms) -** **First 5 out of 10** 1. **Services, Obligations, and Duties.** 2. **Signed by Owner and Broker,** 3. **Begin and End dates,** 4. **Cancellations Provisions,** 5. **Conditions of Compensation** **Hint: Signed Service Begins or Cancelled Compensation** **Chap 19**
32
What are the **last 5 conditions** of **Property Management Agreement?** **Hint: Status and Disposition Of Trust &Non Consent** 1. **St\_\_\_ Rep\_\_\_\_ - F\_\_\_\_\_\_ and Ty\_\_\_\_\_** 2. **Disp\_\_\_\_\_ of all M\_\_\_\_\_\_ C\_\_\_\_\_\_\_,** 3. **Op\_\_\_\_\_\_ R\_\_\_\_\_\_\_ - For emergencies and other purposes** 4. **Tr\_\_\_\_\_ Account - Disposition/Allocation of In\_\_\_\_ E\_\_\_\_\_\_** 5. **Not Ass\_\_\_\_\_\_ - To another Licensee without Consent**
**Property Management Agreement** **Terms 6-10** 1. **Status Reports - Frequency and Type** 2. **Disposition of all Monies Collected,** 3. **Operating Reserves - for emergencies and other purposes,** 4. **Trust Account - Disposition/Allocation of Interest Earned** 5. **Not assigned - To Another Licensee without Consent** **Hint: Status and Disposition Of Trust & Non Consent**
33
If a landlord and tenant enter into a lease agreement for **a single family residence**, what are the **bedbug provisions?**
**SFR Single Family Residence (Bedbugs)** **Excluded from Bedbug Laws** **Chap 19**
34
What are the Property Managers **first 5 of 10 Duties?** 1. **L\_\_\_\_ Units** 6. Advertising 2. **V\_\_\_\_\_\_\_** 7. Rpts Owners 3. **Collect R\_\_\_\_** 8. Supplies 4. **Keep A\_\_\_\_\_\_\_** 9. Hire Emps 5. **M\_\_\_\_\_\_\_\_** 10. Remodeling
**Property Manager (Duties) -** **First 5 of 10** 1. **Lease Units** 6. Advertising 2. **Vacancies** 7. Rpt to Own 3. **Collect Rents** 8. Supplies 4. **Keeping Accounts** 9. Hire Emps 5. **Maintenace** 10. Remods **Chap 19**
35
What are the Property Managers, **last 5 of 10 duties?** 1. Lease Units 6. **Adv\_\_\_\_\_\_\_\_** 2. Vacancies **7. Rep\_\_ Owners** 3. Collect Rents **8. Sup\_\_\_\_\_** 4. Keeping Accounts **9. H\_\_\_ E\_\_\_\_\_** 5. Maintenace **10. Remo\_\_\_\_\_**
**Property Manager (Duties) -** **Last 5 of 10** 1. Lease Units **6. Advertising** 2. Vacancies **7. Rpt Owners** 3. Collect Rents **8. Supplies** 4. Keeping Accounts **9. Hire Emps** 5. Maintenace **10. Remodeling** **Chap 19**
36
**Who are the Property Management (Parties)** 1. **Property Owner is** an **Inv\_\_\_\_\_\_** who Employs Broker. 2. **Broker (Prop Mgr)** is the **G\_\_\_\_\_ A\_\_\_\_** of the Owner 3. **Broker** has **F\_\_\_\_\_ Relationship** towards **Property Owner** 4. The **Salesperson** represents **B\_\_\_\_\_\_.**
**Property Management (Parties) -** 1. **Property Owner** is **Investor** who Employs Broker. 2. **Broker (Prop Mgr)** is the **General Agent** of the Owner 3. **Broker** has **Fiduciary Relationship** towards Property Owner 4. The **Salesperson** represents **Broker** **Chap 19**
37
**Property Management Agrmt (Terminated) -** **_Brokerage Must Give Owner -_** 1. **Security Deposits List** - ___ Days 2. **Prop Mgmt Acct Monies** - ___ Days 3. **Accts Rec/Pay** - ___ Days 4. **Bank Acct Reconciliation** ___ Days
**Property Management Agrmt (Terminated) -** **_Brokerage Must Give Owner -_** 1. **Security Deposits List** - 5 Days 2. **Prop Mgmt Acct Monies** - 35 Days 3. **Accts Rec/Pay** - 75 Days 4. **Bank Acct Reconciliation** - 75 Days **Chap 19**
38
**Property Management Records** for **_Leases/Finder Fees_ and _Financials_** held for how long? 1. **Leases/Finder Fee** - \_\_\_year after terminated 2. **Financial** - __ years
**Property Management Records** for **_Leases/Finder Fees_ and _Financials_ -** 1. **Leases/Finder Fee** - 1 year after terminated 2. **Financial** - 3 years **Chap 19**
39
**P\_\_\_\_\_\_\_\_ C\_\_\_\_\_\_\_\_\_** **A Real Estate Development - which includes _Real Estate Owned by an Association_** Created for Purpose of **"Managing, Maintaining or Improving Property,"** and which **"Owners of Seperately Owned Parcels"** are **"Mandatory Members"** and **"_Required to Pay Association Assessments_."**
**Planned Community -** **A Real Estate Development - which includes _Real Estate Owned by an Association_** Created for Purpose of **"Managing, Maintaining or Improving Property,"** and which **"Owners of Seperately Owned Parcels"** are **"Mandatory Members"** and **"Required to Pay Association Assessments."** **Chap 19**

AZ Real Estate Agent License 2020 (23 decks)

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