TEXAS REAL ESTATE PROPERTY MANAGEMENT
FINAL EXAM 2023-2024 ACTUAL EXAM 300
QUESTIONS AND CORRECT DETAI LED ANSWERS
WITH RATIONALES (VERIFIED ANSWERS )
|ALREADY GRADED A
Under the management agreement, how many days prior to the end of the term must notice of termination be given?
30 60 90
0 - ANSWER- 30
What is the biggest expense in managing a resort?
maintenance housekeeping security replacing household items - ANSWER- housekeeping
Which of the following additional responsibilities would the property manager of a ranch have?
soil management water management 1 / 4
labor management all of the above - ANSWER- all of the above
Chapter 82 of the Texas Property Code applies to which of the following?
residential condominiums office condominiums commercial condominiums all of the above - ANSWER- all of the above
A "bump" clause is synonymous with which other clause?
percentage rent holdover option to purchase escalator - ANSWER- escalator
What typically happens to the improvements at the end of a ground lease?
The landlord removes them The tenant must remove them The landlord will own them The tenant keeps them - ANSWER- The landlord will own them
What is a non-disturbance clause? 2 / 4
It is a clause in a lease that says a tenant cannot be evicted due to a foreclosure against the property It is a lease that says the tenant must not be disruptive to other tenants
It is a clause that says a landlord cannot evict a tenant Correct: False
It is a clause that establishes quiet hours - ANSWER- It is a clause in a lease that says a tenant cannot be evicted due to a foreclosure against the property
In a gross sales calculation from a percentage lease, which of the following would not be included in the calculation?
Sales from a tenant's satellite office Sales from a kiosk within the tenant's leased premises Sales made by phone to the tenant's store Sales occurring as a result of a phone call to the tenant's store - ANSWER- Sales from a tenant's satellite office
What is NOT included into Landlord Remedies?
Terminate the Lease Demand payment of all past and future rent through the end of the Lease Term Obtain a security interest in Tenant's possessions Abandon the Premises - ANSWER- Abandon the Premises
When a tenant defaults on a lease, the landlord can do all of the following except:
Terminate the lease 3 / 4
Evict the tenant immediately Demand payment of all past and future rent through the end of the lease term Seek to collect any unamortized costs of improvements made by the Landlord - ANSWER- Evict the tenant immediately
The listing agreement and the representation agreement expressly state what?
That a broker does have the authority to bind the owner to an agreement.That a broker does not have the authority to bind the owner to an agreement.That the broker cannot sign any documents whatsoever.That the landlord or tenant cannot sign any documents whatsoever. - ANSWER- That a broker does not have the authority to bind the owner to an agreement.
Which of the following is a true statement?
The move-out date is established by the tenant The tenant may apply the security deposit to the last month's rent All occupants must surrender the apartment before the 30-days period for deposit refund begins The tenant may make a partial payment of rent if he moves out prior to the move- out date - ANSWER- All occupants must surrender the apartment before the 30- days period for deposit refund begins
In order to be an indication of abandonment, the tenant must have been in default on the payment of rent for at least___ days.
- / 4