Preview Questions Property Manager | Role Specific Skill

Question 1: How should a Property Manager handle rent control regulations in areas with limits on rent increases?

Which action should you take?

Choose only one option

Raise rent periodically without documenting the increases

Avoid rent increases altogether to prevent complications

Increase rent by market rates, disregarding rent control limits

Ensure that all rent increases comply with the local rent control laws

Question 2: How does a property manager mitigate the risk of service disruptions from maintenance contractors?

Which action should you take?

Choose only one option

By hiring only local contractors

By increasing the frequency of maintenance checks

By hiring contractors with higher rates

By setting clear timelines and penalties

Question 3: How should a Property Manager handle the allocation of expenses for property improvements when the budget exceeds the initial estimates?

Which action should you take?

Choose only one option

Proceed with all improvements and absorb the additional costs

Increase rent across all properties to cover the excess cost

Cut back on all improvements and delay future upgrades

Review and prioritize the improvements based on their potential ROI

Question 4: When budgeting for property maintenance, what is the key factor to ensure long-term financial sustainability?

Which action should you take?

Choose only one option

Overlook long-term costs in favor of short-term savings

Allocate only minimal funds for long-term repairs and replacements

Establish a comprehensive maintenance reserve fund for unexpected expenses

Cut all non-essential maintenance tasks to save on operational costs

Question 5: How can a Property Manager ensure the effective management of a property's debt obligations within the financial budget?

Which action should you take?

Choose only one option

Rely on the finance department to track debt obligations

Include debt payments as part of the budget and monitor their impact on cash flow

Treat debt obligations as separate from operational costs

Only account for debt payments during refinancing or restructuring

Question 6: What is the primary advantage of including a ?non-compete? clause in a commercial lease agreement?

Which action should you take?

Choose only one option

It allows tenants to sublet without restrictions

It offers tenants the option to cancel the lease anytime

It prevents tenants from engaging in similar businesses nearby

It ensures the property is used for residential purposes only