Property Management
A Rhode Island property manager receives a fair housing complaint about their managed property. What should the manager do?
AIgnore it as the owner is responsible
BConsult with an attorney and take the complaint seriously; investigate and respond appropriately✓ Correct
CImmediately terminate the tenant involved
DReport the complainant to the DBR
Explanation
Fair housing complaints must be taken seriously. The property manager should consult with legal counsel, investigate the complaint, document all actions, and respond appropriately to avoid liability for themselves and the property owner.
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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.
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