When demand falls and the vacancy rates rise

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Reference no: EM132207079

1. When demand falls and the vacancy rates rise, the result is

decreased competition for tenants and increased rental rates.

decreased competition for tenants and reduced rental rates.

fierce competition for tenants and increased rental rates.

fierce competition for tenants and reduced rental rates.

2. When a property manager or management company performs real-estate-related tasks (such as collecting rent) for one owner, and that owner is paying the manager a salary,

the property manager must have a real estate salesperson license.

the property manager must have a real estate brokers license.

the property manager is not required to have a real estate license.

the property manager must have a dual license (real estate and mortgage).

3. An individual property manager

is usually a real estate broker who manages properties for one owner or a number of owners.

usually manages a single large property.

lives on the property and may be employed on a full or part-time basis.

acts as the property owners' agent and adviser for the property.

4. The Institute for Real Estate Management (IREM) was created as a subsidiary group of

Building Owners association

National Association of REALTORS®

The Multiple Listing Service

American Industrial Real Estate Association

Reference no: EM132207079

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