Montana Property Management
Practice Questions & Answers (2026)
Property management questions on the Montana exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to Montana. The Montana Board of Realty Regulation tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. Montana's landlord-tenant law has specific provisions — including notice requirements and tenant protections — that differ from what national study materials cover. These questions often involve scenarios where a property manager must navigate competing obligations to the owner-client and the tenant.
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Montana Property Management — Practice Questions & Answers
117 questions on Property Management from the Montana real estate question bank. First 10 are free — sign up to unlock all 117.
Q1. A property manager's primary duty is to:
Explanation
A property manager acts as the owner's agent and owes fiduciary duties to the property owner, including managing the property to maximize the owner's return while complying with all legal requirements.
Q2. A Montana property manager who collects rent on behalf of a property owner for a fee must hold:
Explanation
In Montana, collecting rent or otherwise managing property for others for compensation constitutes a real estate activity requiring a Montana real estate license.
Q3. A property management agreement should include:
Explanation
A property management agreement should clearly define the manager's authority, responsibilities, compensation, reporting requirements, duration, and termination provisions.
Q4. A gross lease requires the tenant to pay:
Explanation
Under a gross lease, the tenant pays a fixed rent and the landlord is responsible for paying most or all operating expenses such as taxes, insurance, and maintenance.
Q5. A net lease differs from a gross lease because in a net lease:
Explanation
Under a net lease, the tenant pays base rent plus some or all operating expenses (taxes, insurance, maintenance). A triple net (NNN) lease requires the tenant to pay all three major expense categories.
Q6. Montana's landlord-tenant law requires landlords to provide rental units that are:
Explanation
Montana's Residential Landlord and Tenant Act (RLTA) requires landlords to maintain rental units in a habitable condition, meaning they must be safe, clean, and fit for human occupancy.
Q7. Under Montana's Residential Landlord and Tenant Act, a landlord must return a tenant's security deposit within how many days after the tenant vacates?
Explanation
Montana law requires landlords to return the security deposit (or provide an itemized list of deductions) within 30 days after the tenant vacates, unless the lease provides for a shorter period.
Q8. A percentage lease is commonly used in retail properties and requires the tenant to pay:
Explanation
A percentage lease is common in retail/shopping center leases and requires the tenant to pay a base rent plus a percentage of gross sales that exceed a specified breakpoint, aligning landlord income with tenant performance.
Q9. The capitalization rate approach to evaluating an income property shows that if cap rates in a market increase, property values will:
Explanation
Value = NOI ÷ Cap Rate. If cap rates increase and NOI stays the same, the denominator increases, causing value to decrease. Rising cap rates generally indicate falling property values.
Q10. When a commercial tenant fails to pay rent, the landlord's first legal step in Montana is typically to:
Explanation
Before filing for eviction in Montana, the landlord must typically serve the tenant with a written notice to pay rent or vacate within a specified period, as required by state law.
Q11. Common area maintenance (CAM) charges in a commercial lease are fees paid by tenants to cover:
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