Montana Property Management Practice Exam

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• How can a landlord's intentions affect a tenant's lease renewal?
• What common characteristic defines boards governing realty regulations?
• What is the purpose of a security deposit?
• Which document must landlords in Montana provide regarding the conditions of a property?
• What is another term for "Debt Service"?
• What can happen if a tenant breaches a lease agreement in Montana?
• In Montana, when might a landlord refuse to renew a lease?
• An 8-plex rents for $575 per unit, but has 3 units vacant. What is the Gross Potential Income of the building?
• What does "quiet enjoyment" mean in rental agreements?
• When is a rental agreement considered legally binding in Montana?
• What should a tenant do if they experience illegal discrimination?
• Can landlords in Montana charge an application fee?
• Which regulation governs the handling of security deposits in Montana?
• What does the term "landlord's lien" mean in Montana?
• What should be specified on a move-in condition report of a unit intended to be let?
• A tenant has the right to privacy in their rental unit. Which of the following actions by a landlord could violate this right?
• A landlord agrees to let a tenant avoid a $200 security deposit by cleaning their dirty unit upon arrival. The tenant leaves the unit clean with no damage at move-out. What must the landlord do?
• How are rental payments typically made in Montana?
• What action can a tenant take if their landlord fails to make needed repairs?
• What is one of the primary purposes of the Board of Realty Regulators?
• If a tenant abandons a property, what is the appropriate procedure for a landlord?
• What is required for a lease to be enforceable in Montana?
• If a tenant believes their rights have been violated in Montana, what actions can they take?
• What is a potential consequence of failing to meet lease terms for tenants in Montana?
• What is required for landlords to keep track of tenant complaints in Montana?
• When a property manager is hired to assist an owner, which parties are in a fiduciary relationship?
• What types of inspections should property managers conduct regularly?
• How should a landlord communicate the lease terms to a tenant in Montana?
• If a property owner insists on managing staff directly, what should the property manager do?
• How much notice must landlords give tenants before a rent increase takes effect in Montana?
• What constitutes a "notice to vacate" in Montana?
• What type of tenancy has a duration that is indefinite and determined by the frequency of rent payments?
• Which of these might trigger an inspection of rental properties by authorities?
• What is the pro-rated rent for a $525/month apartment when a tenant moves in on the 16th of the month (assuming a 30-day month)?
• What is considered a valid purpose for landlord entry into a rental unit?
• How does the rental market condition influence lease renewal?
• Which of the following is true regarding late fees in Montana?
• What term refers to the income received by a property owner after deducting operating expenses and loan payments?
• What is the monthly rent for an office space measuring 30ft X 45ft with a yearly rent of $7.50/sq. ft.?
• If a tenant does not provide notice to a landlord about property issues, which option is generally available to the landlord?
• Which of the following items is not reported as an operating expense?
• In Montana, what role does tenant performance play in lease renewal?
• How long must a landlord leave abandoned personal property at a rental before removal?
• How many days does the court have to schedule a hearing following a tenant's answer in an action for possession?
• On what grounds may a landlord terminate a month-to-month rental agreement in Montana?
• A landlord is notified in writing on July 15th that their cold water system is not working. By when must the landlord fix the issue?
• Compensation for property managers is typically based on what?
• What is typically the first step in a tenant eviction process?
• What does an unlicensed individual face if reported to the Board of Realty Regulations?
• In Montana, what is a common practice regarding the pet policy in rental agreements?
• What are the consequences for a landlord who unlawfully withholds a security deposit in Montana?
• What is required from landlords regarding property maintenance and safety?
• When must rents be deposited into a trust account for residential transactions after receipt?
• What is the proper procedure for eviction in Montana?
• What illegal practice is indicated when a property management company refuses to offer services in a predominantly Jewish area?
• In Montana, what avenue can a tenant use to address a lack of maintenance in their rental unit?
• An effective response to allegations of illegal discrimination usually involves what action?
• Which of the following is NOT a factor that typically affects lease renewal rights?
• What is the primary purpose of property management in Montana?
• What is the importance of a lease renewal clause in a rental agreement?
• What should tenants do if they have a dispute with their landlord?
• What is a tenant allowed to do if a rental agreement lacks clarity regarding payment?
• What is required for a landlord to legally increase rent in Montana?
• Two parties, agreeing to the written terms and conditions of a rental agreement, would create a?
• What Montana law prohibits discrimination against familial status?
• Which of the following does not need to be kept in a trust account?
• How long does a landlord in Montana have to respond to maintenance requests?
• How can a residential lease typically be ended in Montana?
• What are the implications of the Fair Housing Act for property managers in Montana?
• What is the status of rent control regulations in Montana?
• What factors can influence a tenant's right to renew their lease in Montana?
• Are landlords responsible for maintaining common areas in a rental complex?
• Which of the following could constitute grounds for a tenant’s eviction?
• What is typically included in a property management agreement?
• What happens if a tenant assumes their lease will automatically renew?
• If a landlord fails to give a 24-hour notice of required cleaning, what must they do regarding the security deposit?
• How does tenant screening benefit the rental process in Montana?
• Which of the following is a primary consideration for landlords when determining renewal rights?
• What is the primary purpose of a rental agreement?
• Unless specified otherwise in a rental agreement, where is rent payable?
• Fair housing laws would require a landlord to make all of the following reasonable accommodations/modifications, except?
• What is a property manager's responsibility when handling a tenant's advance deposit?
• What is the primary function of a property management agreement?
• What illegal practice occurs when a property manager shows a family with a small child only properties that have playgrounds?
• What documentation is essential for landlords when processing a tenant's rental application?
• How long does a tenant have to respond to a notice of lease termination in Montana?
• What is the legal time frame for a landlord to return a security deposit after lease termination in Montana?
• Can a landlord charge a late fee for rent in Montana?
• What is the primary purpose of a lease agreement in property management?
• Which of the following statements is true regarding a guide dog in a "no pets" apartment building?
• What does the term "familial status" refer to in housing regulations?
• When is a new property management license holder required to complete their continuing education requirements?
• When is a landlord allowed to increase rent in Montana?
• Which of the following is not a protected class for housing in Montana?
• Which of the following can be a reason for a tenant not to have their lease renewed?
• How much gross annual management fee does a property manager earn, managing 127 units with a 3.5% vacancy rate and a management fee of 8.2% on gross rent?
• If a tenant completely destroys property within a rental unit, this may result in what legal term?
• When a lease specifies a fixed end date, it is classified as what type of lease?
• When can a landlord deduct normal wear and tear expenses without giving the tenant a 24-hour notice?
• What authority does the Board of Realty Regulations possess regarding licenses?
• A property manager suspects drug activity in a month-to-month lease property. What is an option available to them?
• What is essential for a successful lease renewal negotiation for tenants?
• Under what condition can a landlord enter a rental unit in Montana?
• How should a landlord in Montana handle a tenant's request for repairs?
• What is the main responsibility of the Montana Department of Commerce in property management?
• If a member of the public approaches the Board of Realty Regulation with an unsatisfied judgement against a property manager, payment may be made from the:
• What conditions make it legal to terminate a lease in Montana?
• What is the default lease length for commercial properties if no length is specified?
• What must landlords provide according to the Fair Housing Act?
• What is the primary purpose of the Montana Residential Landlord and Tenant Act?
• A leasehold which the landlord or tenant may terminate at any time, with reasonable notice, is called:
• What is often the first step in the eviction process?
• What is the title for a property manager overseeing financials and multiple sites?
• What is the effect of failing to provide a proper notice to vacate?
• Which document is essential for outlining a tenant's rights and responsibilities?
• If a rental unit is not available on the agreed date, what notice can the tenant give to terminate?
• A tenant has a pet in violation of a lease agreement. After providing a written notice, the tenant gets rid of the pet. Eight months later, the tenant gets another pet. The property manager should then:
• Can tenants in Montana sublease their rental unit without obtaining consent from the landlord?
• What steps should a landlord take if a tenant frequently pays rent late?
• Which of the following must a landlord provide when a tenant requests repairs?
• What is the statute of limitations for filing a property damage claim in Montana?
• What price should a company charge per unit annually if they want to make a 23% profit on costs of $50,000?
• Can a landlord refuse to rent based on a tenant's source of income in Montana?
• What recourse do tenants have against illegal eviction in Montana?
• Which of the following are mandatory in the new property manager required hours?
• For whom must you keep a separate trust account ledger?
• What must be done if a tenant violates a lease agreement?
• What key information must be included in a Notice to Quit in Montana?
• What action can a tenant take if their landlord fails to maintain the property?
• What should tenants do if they notice unsafe conditions in their rental?
• For how many years must all documents related to a real estate transaction be kept?
• Which of the following is not considered in a market analysis?
• What do "implied warranties of habitability" ensure in Montana's rental properties?
• If a tenant has a pet dog in a property where pets are not allowed, what is the maximum written notice a landlord can provide for them to vacate?
• What should you do if you suspect a tenant is operating a prostitution business in your managed property?
• Which lease type usually requires the tenant to pay common area maintenance costs?
• A tenant, upon written request, must be provided which of the following information?
• A tenant staying beyond the end of a 1-year lease end date without permission would be referred to as:
• What type of insurance typically covers an employee who steals money from a Homeowners Association's account?
• What is the significance of the Montana Residential Landlord and Tenant Act?
• Which organization can provide guidance on tenant rights regarding lease renewals?
• What is the gross potential annual income of a 29-unit apartment building that rents each unit for $475/month with an 8% vacancy rate?
• What must occur for the board of regulation to revoke a license?
• What do you call a tenant that continues to occupy a rental premise after their lease has expired?
• What was the gross income after a 10% rent increase, given that 5 tenants moved out?
• What rights do tenants have regarding a landlord's entry into their unit?
• What is the maximum security deposit allowed in Montana for a residential lease?
• What type of lease continues until a specific date?
• When terminating a lease, which factor must a landlord take into consideration?
• Which of the following is typically included in a residential lease agreement?
• Can tenants make alterations to the property without landlord approval?
• What must a landlord do regarding a rule adopted by them?
• Which legal document defines the responsibilities of landlords and tenants in Montana?
• How long does a landlord have to start eviction proceedings after a lease violation in Montana?
• What must a tenant demonstrate to increase chances of lease renewal?
• A property manager who calls families in a neighborhood about incoming native Americans is committing which illegal act?
• In a commercial building where tenants pay additional costs to rent, which type of lease is typically used?
• Lead-Based paint disclosures are required for buildings built prior to what year?
• In Montana, what constitutes an emergency repair?
• What can result from an unconscionable provision in a rental agreement?
• What is an important factor in establishing an owner-manager relationship?
• How many continuing education hours must be completed following the original license issue date, prior to renewal?
• What should a tenant do if a minor maintenance issue has not been addressed by the landlord within 7 days?
• Which of the following is not a requirement for a property manager?
• What notice must a landlord provide for non-payment of rent in Montana?
• How should landlords handle tenant privacy regarding personal information?
• What is the term for an agreement in which a tenant purchases the right to occupy real property?
• In which housing situation would you be legally allowed to deny children?
• What must a landlord provide to ensure habitability in their rental units?
• If a commercial building measuring 55X60 ft has an annual price of $11.50 per sq. ft., what is the average rent price per year, with a 5-year lease and 6 months free?
• What does "constructive eviction" mean in Montana landlord-tenant law?
• What can tenants do to protect their interests when renewing a lease?
• Which statement is true regarding security deposits?
• Can a tenant in Montana withhold rent for repairs not made by the landlord?
• Which document is essential for establishing landlord-tenant relationships?
• What should a landlord provide to ensure tenant safety in common areas?
• How do fair housing agencies investigate allegations of illegal discrimination?
• What law covers public accommodations and the accessibility of those accommodations?
• Is a verbal rental agreement legally binding in Montana?
• Can landlords in Montana prohibit pets in rental properties?
• What should be included in a written lease to ensure its enforceability?