Physical Condition


A property manager is preparing a management plan for a new client’s property. The manager’s property analysis:

a.should focus primarily on the property’s physical condition at this stage

b.should include an evaluation of the property’s current operations, leasing, management, and financial condition, as well as its physical condition

c.should be performed after the market analysis, for most types of property

d.must be based on an appraisal performed by a state-licensed or -certified appraiser within the previous six months  


A property manager is deciding on a marketing plan for a vacant retail space. How much advertising will be needed in order to find the next tenant for the space is most likely to be affected by:


b.the target market

c.the property’s location

d.the cost per prospect  


A property manager is doing a preliminary study in order to prepare a management plan. As usual, the preliminary study will involve five main categories of analysis. These categories include all of the following, except:

a.analysis of alternatives

b.analysis of demographics

c.regional analysis

d.neighborhood analysis


A property manager may suggest physical changes to a client’s property in order to correct or address different forms of depreciation. Which of the following is true?

a.Correcting curable external obsolescence is called remodeling

b.Correcting curable physical deterioration is called remodeling

c.Correcting curable functional obsolescence is called rehabilitation

d.Correcting deferred maintenance is called rehabilitation

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