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NEW QUESTION # 102
Which of the following is theMOSTfundamental requirement for developing the annual property budget?
Answer: A
Explanation:
Themost fundamentalstep in developing an annual property budget is to understand theowner's goals and objectives. These priorities guide all financial planning decisions, including budgeting for expenses, capital improvements, and revenue strategies. Without this understanding, the budget may misalign with ownership's expectations.
NEW QUESTION # 103
A property manager has been given the responsibility for hiring and managing a leasing team. Which of the following is the MOST important to improve leasing outcomes?
Answer: D
Explanation:
Analysis:
* A.A good compensation structure is important but doesn't guarantee performance or direction.
* B.Monitoring and reporting is amanagement task, not a direct performance improvement strategy.
* C.A marketing budget is supportive butnot sufficienton its own to improve outcomes.
* D.#Setting obtainable goalsgives the team a clear direction, measurable targets, and motivation - all of which arecritical for improving leasing outcomes.
NEW QUESTION # 104
A property manager is required to administer many types of leases. Which of the following leases requires the tenant to pay theMOSTexpenses?
Options:
Answer: C
Explanation:
Anabsolute net leaserequires the tenant to payallexpenses associated with the property - including property taxes, insurance, maintenance, repairs, and sometimes even structural repairs or roof replacement. This is more extensive than a triple-net (NNN) lease, where the tenant pays taxes, insurance, and maintenance, but not necessarily major capital expenses.
NEW QUESTION # 105
A property manager must prepare the annual budget to review current rents, increases, and lease expiration dates. As the property manager, they want to prepare the budget by looking up tenant names, suite numbers, square footage, and other physical details. Which document should the manager use to compare information with an easy-to-read overview of the property and its tenants?
Answer: A
Explanation:
Arent rollis a document that lists the current tenants, their lease details, including names, suite numbers, square footage, rent amounts, and expiration dates. This document provides an easy-to-read overview and is essential for the property manager when preparing the annual budget.
NEW QUESTION # 106
Which of the following is required before a vendor invoice can be paid?
Answer: B
Explanation:
Before a vendor invoice can be paid,property manager approvalis typically required to verify that the goods or services were delivered satisfactorily and that the invoice is accurate. This step ensures financial control and accountability in property management operations.
NEW QUESTION # 107
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