Can You Answer The Following Oregon Property Management Quiz

1. The demand for professional property management was influenced by which of the following?

The increase in foreclosed properties.

1. The development and construction of multiple level buildings.

NOTE: The invention of the elevator created easier access to upper floors rather than using stairs which created a demand for multiple level buildings.

The growth of farming land.

The adoption of low interest loans.

The invention of the elevator created easier access to upper floors rather than using stairs which created a demand for multiple level buildings.

Explanation

The invention of the elevator created easier access to upper floors rather than using stairs which created a demand for multiple level buildings.

2. George Holt was instrumental in building professional property management by:

Printing the first nationally recognized rental agreement

Specializing in the management of shopping centers

2. Starting the first professional group of building mangers organization.

NOTE: George Holt was instrumental in building professional property management by starting the first professional group of building mangers organization.

Inventing the elevator

George Holt was instrumental in building professional property management by starting the first professional group of building mangers organization.

Explanation

George Holt was instrumental in building professional property management by starting the first professional group of building mangers organization.

3. In Oregon, which of the following individuals would need to have a property management license?

2. A person appointed by the court to lease a specific property.

4. A person managing their own properties.

1. An employee managing property for the company in which they work.

3. A person, for a fee, managing several properties for different owners.

NOTE: If a person is managing other people’s properties as a business including collecting compensation they must be licensed. A person performing activities in managing a property as an employee does not have to be licensed.

If a person is managing other people’s properties as a business including collecting compensation they must be licensed. A person performing activities in managing a property as an employee does not have to be licensed.

Explanation

If a person is managing other people’s properties as a business including collecting compensation they must be licensed. A person performing activities in managing a property as an employee does not have to be licensed.

4. An owner's expectations of a property manager would ordinarily include:

3. Be professional and follow Fair Housing Laws

4. All of the above.

NOTE: An owner's expectations of a property manager would ordinary include following their instructions, maintaining the building(s) and preserve their value, be professional and follow Fair Housing Laws.

2. Maintain the building and preserve value

1. Following their instructions

An owner's expectations of a property manager typically encompass all the options provided. Following instructions, maintaining the building and its value, as well as being professional and adhering to Fair Housing Laws are key responsibilities of property managers.

Explanation

An owner's expectations of a property manager typically encompass all the options provided. Following instructions, maintaining the building and its value, as well as being professional and adhering to Fair Housing Laws are key responsibilities of property managers.

5. In Oregon, a separate license to practice property management started in:

2. 1998

NOTE: In 1998 the Oregon Real estate Agency created the separate license category of property manager.

1908

1921

1933

In 1998, the Oregon Real Estate Agency introduced a distinct license category for property managers, making it the correct starting year for property management license in Oregon.

Explanation

In 1998, the Oregon Real Estate Agency introduced a distinct license category for property managers, making it the correct starting year for property management license in Oregon.