SU # 66__Relationships and Responsibilities Flashcards
To whom should a property manager not rent?
friends
family
romantic interests
all of the above
all of the above
The number one responsibility of the property manager is to:
Make money for the owner.
Manage the maintenance of the property.
Strive for the highest return on the property consistent with the owners’ instructions.
Obey the property owner no matter what
Strive for the highest return on the property consistent with the owners’ instructions.
Randy Renter is earning $2000 per month. The apartment he wants to rent costs $800 per month. Should you rent it to him?
No, he does not earn enough
Yes, he earns enough
No, unless there are mitigating factors
Yes because he has no children
No, unless there are mitigating factors
What is the best way to obtain information about a prospective tenant’s employment history?
Contact the unemployment commission
Run a credit check
Ask for references
Check with the human resources department of a previous employer
Check with the human resources department of a previous employer
If a prospective tenant is rejected due to a bad credit report, the Fair Credit Reporting Act requires that ______.
the landlord justifies his rejection in writing to the prospective tenant and the prospective tenant’s employer.
the landlord notify the prospective tenant of the bad report and the name of the reporting service.
the prospective tenant disclose reasons for the poor rating to the landlord.
the landlord file a report with the credit agency.
the landlord notify the prospective tenant of the bad report and the name of the reporting service.
In an Illinois property management relationship, there must be a written property management agreement between:
The property manager and the tenant.
The property owner and the tenant.
The property owner and his partners.
The property owner and the broker.
The property owner and the broker.
Peter Property Manager has screened an applicant, who is clearly Middle Eastern. Peter decides to reject the applicant when he sees the applicant has moved three times in three years. Has Peter acted properly?
Yes, the applicant is clearly unstable
Yes, he can reject the applicant for any reason
No, he must approve the applicant
No, if the applicant has explained the moves to Peter’s satisfaction and there is no other basis to reject him
No, if the applicant has explained the moves to Peter’s satisfaction and there is no other basis to reject him
The property management agreement creates a contractual agreement between:
The property owner and the broker.
The property owner and his partners.
The property owner and the tenant.
The property manager and the tenant.
The property owner and the broker.
A credit score is also called a ______ score.
RESPA
FICO
FICA
CSI
FICO
What information should you obtain from people who are self-employed?
at last two years tax returns
an audited statement
an unemployment history
a guaranty
at last two years tax returns
