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Real estate ch 13 - 17 with 100% correct answers graded A+ already passed
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Real estate ch 13 - 17 with 100% correct answers graded A+ already passed
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Real estate ch 13 - 17All of the following are useful when marketing office properties EXCEPT:
A. Brochures
B. Signs
C. Direct mail
D. Classified ads - correct answer ✔✔D. Classified ads
While longer lease terms are most desirable, to protect the owner from missing out on rising market
rates, the lease should contain
A. A recapture clause
B. A right to assign clause
C. An escalation clause
D. Right to sublet clause - correct answer ✔✔C. An escalation clause
An employee of an office building tenant who is responsible for the internal arrangement and furnishing
of the lease space is called a
A. Facilities manager
B. Property manager
C. ADA manager
D. Compliance officer - correct answer ✔✔A. Facilities manager
One of the MOST effective methods to locate a new tenant for an office property is
A. Direct mail to businesses in select ZIP codes
B. Canvassing a list of qualified prospects
C. A classified ad in a trade newspaper such as the wall street journal
D. Display ads in a local newspaper - correct answer ✔✔B. Canvassing a list of qualified prospects
,The absorption rate is determined
A. From the property analysis
B. From the neighborhood analysis
C. From the class building (Class A, B, C, or D)
D. By calculating the number of square feet that have historically been leased per year - correct answer
✔✔D. By calculating the number of square feet that have historically been leased per year
Which of the following factors was MOST important in the selection of office facilities, according to one
survey?
A. Cost
B. Bus and highway accessibility
C. Property environment
D. Labor for building maintenance - correct answer ✔✔A. Cost
Office space is designated Class A, B, C, or D on the basis of guidelines
A. Based on absorption rated
B. Officially approved by law and published by BOMA.
C. Set by the local zoning boards
D. Based on age, location, and market position - correct answer ✔✔D. Based on age, location, and
market position
The base rate for an office building
A. Should reflect the amenities of the space and competition in the area
B. Is the lowest possible dollar-per-square foot figure
C. Is set according to BOMA/ANSI criteria.
D. Should be calculated according to the New York method. - correct answer ✔✔A. Should reflect the
amenities of the space and competition in the area
An older building, recently completely renovated, is located in a popular area amid several prestigious
brand new buildings. By BOMA standards, the older building would be classified as.
, A. A
B. B
C. C
D. D - correct answer ✔✔B. B
According to the BOMA method of measuring office space,
A. Rentable space includes elevator shafts and lobbies
B. Columns used to support the building are deducted from the total area
C. A factor must be included giving weight to the availability of in building parking
D. Construction area is determined by a procedure similar to the New York method - correct answer
✔✔D. Construction area is determined by a procedure similar to the New York method
The New York method has NOT achieved wide acceptance because
A. The measurement is too complicated
B. Most property managers are suspicious of big city innovations
C. It accounts for all of the construction area of a building and is difficult to "sell" to prospects
D. Landlord resist it - correct answer ✔✔C. It accounts for all of the construction area of a building and is
difficult to "sell" to propsects
The ratio of rentable space to usable space is sometimes called the
A. Loss factor
B. BOMA method
C. Lead factor
D. New York Factor - correct answer ✔✔A. Loss factor
When preparing a market analysis on an office property, the manager should pay close attention to
present market conditions and
A. Average vacancy rates
B. Past economic trends
C. Current economic trends
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