Property Management
A Kansas property manager discovers the property owner is committing mortgage fraud by inflating rental income on refinancing applications. The manager should:
AParticipate since they are just following orders
BRefuse to participate and may need to terminate the management relationship, potentially reporting the fraud✓ Correct
CReport only to KREC, not to lenders
DAllow it once but document it for future reference
Explanation
Participating in mortgage fraud is a serious federal crime. The manager must refuse to participate and may have legal obligations to report the fraud, and should likely terminate the management relationship.
Related Kansas Property Management Questions
- In Kansas, what is a 'lease renewal' versus a 'lease extension' option?
- In Kansas, when a tenant provides notice to vacate, the landlord should:
- In Kansas, what must a property manager do with security deposits?
- In Kansas commercial real estate, 'full-service gross' (FSG) leases differ from NNN leases because in FSG leases:
- A Kansas residential property manager who receives a request to perform repairs must:
- A Kansas commercial property management company receives a subpoena for tenant records as part of a court proceeding. The manager should:
- A Kansas property manager who manages multiple properties must keep separate accounting records for:
- In Kansas, what is the minimum notice a landlord must give to terminate a month-to-month tenancy?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →