Property Management (Haupt) Chapter 1

Which of the following is an example of a special purpose property?

• Industrial park

• Hotel

• Planned unit development

• Strip mall

A/n (_______) manager is employed by an institutional owner to manage the property it is occupying.

Most of the property under professional management in the United States is income-producing property.

• True

• False

The function of the manager of an income-producing property is:

• generating expenses for the owners

• monitoring the value of the property

• achieving the objectives of the owners

• all of the above

In a few states, professional property managers must hold either a real estate license or a property manager's license.

• True

• False

A management plan presents the media and infrastructure strategy for a property.

• True

• False

Which of the following is not one of the main types of managed properties?

• Retail

• Industrial

• Agricultural

• Residential

Property managers may work directly for property owners.

• True

• False

A residential site manager typically isn't responsible for:

• paying utility bills

• supervising maintenance and support staff

• screening tenants and collecting rents

• investment decisions

A site manager is responsible for the day-to-day tasks required to manage several properties.

• True

• False