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Hide Number Fields into the Property Management Lease Agreement

Hide Number Fields into the Property Management Lease Agreement and eSign it in minutes

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What type of property employs the fewest number of professional property managers?

What type of property employs the fewest number of professional property managers? The answer is heavy manufacturing. Because property for heavy industry must be designed with the specific needs of potential users in mind, such plants are generally occupied and managed by the owner, not professional property managers.

Which of the following is not a principal responsibility of a property manager?

Answer and Explanation: Explanation: Forcibly removing the people living in the property due to non-receipt of the rent payment is not the property managers principal responsibility. One may take other legal actions against tenants but forcibly removing them is not legally and ethically right.

What is the agency relationship between an apartment owner and a property manager?

The property managers client is the owner. They owe the owner fiduciary duties, not the tenants. This is because the formal agency agreement exists between the owner and the property manager. This agency relationship imposes fiduciary obligations on the property manager.

What type of plan does a property manager implement to manage renters who do not pay their rent?

Answer and Explanation: The correct answer is b. Collection plan. A collection plan is a prudent tool for expediting the rent collection process and mitigating delinquencies.

What is the annual rent per square foot for a 30 ft 40 ft property that rents for $2950 per month?

The total square footage for a 30 foot by 40 foot property is 1200 square feet (30 * 40 = 1200). $2,950 per month equates to $35,400 annually ($2,950 * 12 = $35,400). Therefore, the annual rent per square foot is $29.50 ($35,400 / 1200 = $29.50).

What is the operating budget in property management?

What Is an Operating Budget? In real estate, an operating budget describes the income and expenses for a property. We use it to track an assets success and viability. Typically, property managers will prepare and present the annual operating budget to landlords before the year starts.

What are the three principal responsibilities of the property manager do not include?

The three principal responsibilities of the property manager do NOT include A) preserving and/or increasing the value of the investment property. B) generating maximum income for the property manager. C) achieving the objectives of the property owners. D) generating income for the owners.

Which of the following items must be included in a property management agreement?

6 things that should be included in a property management Fees and services. The responsibilities of the property owner. Equal opportunity housing. Liability. Contract duration. Termination clause.

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