Property Management
A Montana property manager who manages a property for an LLC must establish the agency relationship with:
AEach individual member of the LLC personally
BThe LLC as an entity, through an authorized representative of the LLC✓ Correct
CThe state of Montana's Secretary of State office
DThe property's mortgage lender
Explanation
When a property is owned by an LLC, the property management agreement is with the LLC as an entity. The manager works with the LLC's authorized representative (manager or member with authority) but the client is the LLC itself.
Related Montana Property Management Questions
- A percentage lease is commonly used in retail properties and requires the tenant to pay:
- A Montana property manager facing increasing operating costs must evaluate which costs can be 'passed through' to commercial tenants under their leases. This requires careful review of:
- A Montana property owner wants to evict a tenant who has violated the lease by having unauthorized pets. The first step in the eviction process is to serve the tenant with a:
- Common area maintenance (CAM) charges in a commercial lease are fees paid by tenants to cover:
- A Montana property manager who prepares a 'rent roll' for the owner provides:
- A Montana property manager receiving a notice of code violation on a managed property must:
- A Montana property manager managing multiple single-family rentals for an investor should provide the investor with periodic reports that include:
- Under Montana law, a landlord must provide a tenant with proper written notice before entering the rental unit for non-emergency purposes. The required notice period is:
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →