Free Pennsylvania Real Estate Practice Exam Practice Question
A contract in which a property manager agrees to screen prospective tenants and render monthly financial statements is called a:
Correct Answer: D
Rationale: A management agreement outlines the responsibilities of a property manager, including tenant screening and financial reporting, making it the appropriate choice.
Option A, lease, refers to the contract between a landlord and a tenant regarding the rental of a property, not the management of that property.
Option B, transcript, typically pertains to academic records and has no relevance in property management.
Option C, credit report, is a document assessing an individual's creditworthiness, used in tenant screening but not as a management contract. Thus, D is the most accurate option.
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