Property Management
A North Dakota property manager should review insurance policies for managed properties to ensure the policies include adequate:
ACoverage for the manager's personal vehicle
BProperty damage, liability, and loss of rental income coverage appropriate for the property type✓ Correct
CCoverage for the tenants' personal belongings
DCoverage for the manager's errors and omissions
Explanation
Managed properties should carry adequate hazard insurance for property damage, general liability insurance for injury claims, and loss of rental income coverage. The manager should confirm coverage with the owner's insurance agent.
Related North Dakota Property Management Questions
- A North Dakota commercial lease that gives the tenant an option to purchase the property at a fixed price in the future is called:
- A North Dakota landlord's 'late fee' policy that charges 10% of monthly rent for a single day late is likely:
- A North Dakota multi-family property manager who improves a property's energy efficiency qualifies for:
- A North Dakota property manager who fails to file the required trust account reports with their broker is:
- In a North Dakota manufactured housing (mobile home) park, tenants who own their home but rent the lot have specific protections because:
- A North Dakota property manager handling a tenant security deposit deduction for cleaning must:
- A North Dakota property manager who uses rental proceeds to pay operating expenses before remitting the balance to the owner must:
- A North Dakota commercial tenant's lease contains a 'gross lease' provision. This means:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →