Podcast
Questions and Answers
Match the following damages with their deductible status:
Match the following damages with their deductible status:
Broken pane of glass = Deductible Worn kitchen floor linoleum = Deductible Holes in walls and ceilings = Not deductible Paint wearing out = Not deductible
Match the following items with their remaining useful life:
Match the following items with their remaining useful life:
Linoleum floor = 3 years Paint jobs = No useful life Walls with holes = Dependent on painting Glass in door = Immediate replacement needed
Match the following ages of the linoleum with the prorated deduction from the deposit:
Match the following ages of the linoleum with the prorated deduction from the deposit:
12 years old = $120 15 years old = $0 10 years old = $200 5 years old = $300
Match the following calculation components with their descriptions:
Match the following calculation components with their descriptions:
Match the following terms with their definitions:
Match the following terms with their definitions:
Match the type of residential property with its description:
Match the type of residential property with its description:
Match the aspect of residential management to its key point:
Match the aspect of residential management to its key point:
Match the unique feature of residential properties with its effect:
Match the unique feature of residential properties with its effect:
Match the type of property management with its associated building type:
Match the type of property management with its associated building type:
Match the residential management analysis category with its focus:
Match the residential management analysis category with its focus:
Flashcards
Residential Management Plan
Residential Management Plan
A written document outlining a property manager's strategies for handling a residential property. It acts as a roadmap for managing activities.
Garden Apartments
Garden Apartments
A type of multi-family property with a shared courtyard and ground-level units.
Common Interest Development
Common Interest Development
A type of residential property with a common interest shared by residents, such as a swimming pool or clubhouse.
Condominiums
Condominiums
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Marketing a Residential Property
Marketing a Residential Property
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Returning an apartment to its original condition
Returning an apartment to its original condition
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Useful life of a building element
Useful life of a building element
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Prorated cost of damage
Prorated cost of damage
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Deductible expenses in a security deposit
Deductible expenses in a security deposit
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Non-deductible expenses in a security deposit
Non-deductible expenses in a security deposit
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Study Notes
Learning Objectives
- Students will be able to list different types of multi-family rental properties
- Discuss the steps in developing a management plan for residential property
- Explain how a property manager creates an operating budget
- Identify different ways to market residential property
- Explain the steps in finding, screening, and selecting tenants
- Define the Uniform Residential Landlord and Tenant Act
- Discuss the most common lease provisions
- Compare a tenant's options when a landlord breaches the lease agreement
- Explain what happens to security deposits when a tenancy ends
- Identify different types of residential property and unique management challenges
Suggested Lesson Plan
- Students are given Exercise 10.1 to review the previous chapter, "Staffing and Maintenance"
- A brief overview of Chapter 10, "Managing Residential Property," and a review of the learning objectives for the chapter is provided
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