Property Management History and Roles

Which of these organizations offers the Certified Property Manager (CPM®) designation?

Which of these organizations specifically focuses on the management of single-family dwellings?

Which professional certification program focuses on the management of multifamily rental properties, condominiums, cooperatives, subsidized and market-rate housing?

What organization advocates for multifamily property managers and owners involved in affordable housing?

Which of these organizations offers a certification program for Apartment Maintenance Technicians?

What does the acronym ICSC stand for?

Which of these professional designations is awarded by the International Council of Shopping Centers (ICSC) to individuals who specialize in retail property management?

Which organization offers the designation of Accredited Residential Manager (ARM®)?

Which of these designations requires a real estate license?

Which of these organizations was originally an affiliate group of the National Association of REALTORS® (NAR)?

Which of these certifications is HUD-approved as providing quality training to managers of multifamily rental properties?

Which of these organizations focuses on representing apartment owners, developers, managers, and financiers of larger apartment buildings?

What is the term used to describe man-made, permanent attachments to a parcel of land?

Which of these organizations is a trade association that works with the National Apartment Association (NAA) to advocate on legislative and regulatory affairs relating to rental properties of five or more units?

The management of mines and farms could be considered real property management because:

What is the main focus of most professional trade associations in the property management industry?

What is the primary function of a property manager?

What is a major impact of downsizing and outsourcing in the property management industry?

Which of these is NOT a trend in property management that requires adapting to constantly changing technology?

What is a key difference between a leasing agent and a property manager?

What type of property is considered to be the largest area of involvement for property managers?

What significant event led to the emergence of caretaker managers in the property management field?

What is a crucial skill for a property manager to have in addition to understanding the legal aspects of landlord-tenant relationships?

What is NOT a common example of a modern development requiring specialized property management?

What was the primary responsibility of caretaker managers in the early days of property management?

Which of the following was NOT a factor in the development of the modern property management profession?

What is the responsibility of a property manager when an owner's objectives are deemed shortsighted or illegal?

Which organization offers educational courses leading to various professional designations in property management?

How did the Tax Reform Act of 1986 affect the property management profession?

Prior to the emergence of property managers, who was primarily responsible for leasing and marketing properties?

What is NOT a key factor in determining the present and future value of a property, according to the text?

Which of the following BEST describes the progression of property management responsibilities?

Which of the following was NOT a key factor that contributed to the increased popularity of single-family rentals in the suburbs?

What was the primary impact of the Tax Reform Act of 1986 on the property management profession?

Which of the following is NOT a key responsibility of a property manager?

How does the Low-Income Housing Tax Credit (LIHTC) play a role in the real estate market?

What is the primary benefit of using Real Estate Investment Trusts (REITs)?

What does the term "milking a property" refer to?

What is the most recent specialization within the property management field, as mentioned in the text?

Which of the following is NOT a type of property that may be managed by property management specialists?

What is the primary reason why most states require property managers to obtain a real estate license?

Why is it essential for property managers to have a strong understanding of the economic forces influencing the real estate market?

What is the main advantage of a property manager being involved in community organizations?

What should a property manager do if an owner instructs them to operate a property in a way that may be illegal and financially detrimental?

Why is it crucial for property managers to possess a variety of interpersonal skills?

Which of the following is NOT a factor that has significantly impacted the real estate market in recent years?

What is the primary reason for the increase in the number of renters in recent years?

How has technology impacted the real estate industry and property management?

What is the main challenge property managers face in navigating fair housing laws?

Which of the following is NOT a potential specialty area within property management?

What is a key characteristic of ministorage facilities?

What is the primary purpose of enterprise zones?

Which of the following is NOT an example of a special-purpose property?

What is the primary role of a concierge in a modern setting?

Which of these is NOT a service typically provided by concierges in office buildings?

What is the primary responsibility of an asset manager in the real estate context?

What is a significant difference between a traditional property manager and an asset manager?

What is NOT typically a decision or recommendation made by an asset manager?

What is the role of a property manager in relation to concierge services?

What is a common practice when a building cannot support a full-time concierge?

What is an example of a specialized facet of property management?

What is the primary focus of asset management in real estate?

If a property manager desires to provide concierge services but the building does not have sufficient demand for a full-time concierge, what is the most likely course of action?

What is a key difference between an asset manager and a traditional property manager?

Which of the following is NOT considered a special-purpose property?

What is the primary goal of enterprise zones?

What is the largest source of demand for professional property managers?

Which type of property management typically does not require professional management?

Manufactured homes account for what percentage of all occupied housing in the United States?

What has contributed to the popularity of manufactured home parks among retirees?

What legislative exemptions often apply to housing for the elderly?

Commercial Real Estate generally includes properties that provide what type of access?

What is often a significant factor affecting the construction cost of housing for the elderly?

Which of the following is NOT considered a type of commercial property?

What is a primary characteristic of multifamily residences?

Which of the following best describes the commercial real estate sector?

Manufactured homes are primarily considered a source of what type of housing?

Which type of residential property has seen an increase in multifamily developments due to rising costs and limited land availability?

What is a key function of property managers for large enterprises with extensive real estate?

What is a key characteristic of office properties?

Which type of retail property consists of 4 to 10 stores primarily for convenience shopping?

What distinguishes industrial property from other types of real estate?

Which of the following is NOT a type of retail property?

What is a common feature of multiple-occupancy, single-use properties?

How are industrial parks suited for their purpose?

What is the primary focus of distribution facilities?

What is a characteristic of heavy manufacturing properties?

What is typically true about freestanding, single-tenant retail buildings?

What defines research parks in relation to their tenants?

Which of the following types of properties generally do not require extensive management?

What is a primary function of professional management in retail property?

What typically characterizes light manufacturing properties?

What factor increased the demand for effective property management in the 1800s?

What significant innovation in 1889 allowed for the construction of taller buildings on smaller plots of land?

Which of the following factors contributed to the development of suburban areas post-World War II?

What was a primary outcome of the Great Depression on the property management profession?

Which organization was formed in 1908 to encourage professional standards in property management?

What does the professional designation Real Property Administrator (RPA®) signify?

Which factor has modified suburban trends in some areas today?

What were property managers increasingly required to do as the management profession evolved?

What distinguishes the roles of property managers working in different settings?

Which type of organization offers educational programs for commercial property owners and managers?

What has prompted the need for continued professional training for property managers?

Why are property managers not required to have a real estate license if they manage their own properties?

Which of the following statements about the responsibilities of property managers is correct?

Which historical development directly contributed to the rise of property management as a profession?