Property Management
A property manager receives a repair request from a tenant. The manager's best course of action is to:
AIgnore requests for minor repairs
BEvaluate the request, authorize necessary repairs, and document all actions✓ Correct
CRequire the tenant to fix all minor repairs themselves
DWait until the end of the lease to address all repairs at once
Explanation
Good property management requires timely response to repair requests to maintain habitability, preserve the property's condition, and comply with landlord-tenant law. All actions should be documented.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
DRE Regulation
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