Property Management
A Wyoming property manager receives a maintenance request for a broken heater in January. The manager should:
AWait until the owner approves repairs regardless of weather conditions
BTreat it as an emergency and arrange for repair as quickly as possible✓ Correct
CAsk the tenant to purchase a space heater and deduct costs from rent
DNotify the tenant that repairs are not the manager's responsibility
Explanation
In Wyoming's cold winters, a broken heater is an emergency habitability issue. Property managers must treat heating failures as urgent repairs.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Earnest MoneyA 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.
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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