Preview Questions Property Manager | Role Specific Skill

Question 1: What is the most critical factor in creating a strong tenant communication plan?

Which action should you take?

Choose only one option

Offering quarterly newsletters

Clear and consistent communication

Offering incentives for communication

Limiting communication to emergencies only

Question 2: How should property taxes be treated in the budget of a large commercial real estate property to ensure compliance and accuracy?

Which action should you take?

Choose only one option

Treat taxes as a flat rate without adjusting for property changes

Ensure taxes are calculated based on current property value and adjusted annually

Only adjust taxes when property value changes significantly

Include taxes as a fixed percentage of the building's rental income

Question 3: When setting up a reserve fund for property maintenance, how much should be allocated as a percentage of the annual budget?

Which action should you take?

Choose only one option

Typically 5-10% of the annual budget

50% of the budget, especially for older properties

20-30% of the annual budget

0%, as maintenance is covered by tenants

Question 4: When reviewing a lease agreement, which clause is typically most crucial for mitigating financial risks to the landlord?

Which action should you take?

Choose only one option

Maintenance and repairs clause

Rent escalation clause

Security deposit clause

Termination clause

Question 5: What would be the best method to manage the life cycle of major building systems (e.g., roof, HVAC) in a multi-property portfolio?

Which action should you take?

Choose only one option

Perform maintenance only when issues are reported

Perform regular inspections without any structured planning

Rely on the manufacturer's warranty to handle repairs

Develop a comprehensive asset management plan and track system performance

Question 6: In commercial leases, what is the most effective way to manage operating expenses that the tenant is responsible for?

Which action should you take?

Choose only one option

Charge an additional fixed monthly fee

Include them in the base rent amount

Clearly define the types of expenses in the lease

Charge tenants based on actual expenses incurred