EXAM STUDY MATERIALS July 30, 2024 11:26 AM REE 3043 Exam Questions With Correct Answers Portfolio Manager - answer✔✔Advise. Asset acquisition, renovation, sale decisions affect owner 's portfolio.;Asset Manager - answer✔✔Analyze. Advise. Asset acquisition, renovation, sale decisions affect owner's portfolio affect asset's price or expected return. Property investment values or expected returns. Hiring property manager. Maintenance and prop conditions;Property Managers - answer✔✔The day to day operations of the assets. Rent collection, marketing and tenant administration, property maintance and insurance, accounting operations;Creating Cash Flow through management of r. e. - answer✔✔1. Focusing on the objective of generating income and eliminating excess expenses 2. Understanding the target market thereby making occupancy and rent levels maximized 3. Responding to changes in market conditions by making physical renovations and repostioni ng properties;Relations with space users involve - answer✔✔1. Tenant selection policy 2. Tenant relations program 3. Rent collection program;Maintaing cash flow - Administration - answer✔✔1. physical integrity 2. Functional performance 3. cleanliness 4. ma rketability;Cash flow risk strategies - answer✔✔Portfolio Management Contracting Risk Man. through insurance contracts and programs;Statue of Frauds - answer✔✔1677. All contracts for sale of land must be in writing;Leased fee estate - answer✔✔owner's right s (landlord);leasehold estate - answer✔✔tenant's right;Residential Leases Provisions - answer✔✔1. Possession and use of property 2. Maintenance and Repairs 3.Lessors' right of entry EXAM STUDY MATERIALS July 30, 2024 11:26 AM 4. Lesses' right of assign and sublet;Assignment - answer✔✔Transfers the l essees' rights to new lessees. Original tenant remains liable unless released by landlord.;Sublet - answer✔✔The sale of part of the lessees' rights. The original lessees become lessors and the parties now have a sandwich leasehold.;Commercial Property Leas e - Gross Lease - answer✔✔Lessors pay all operating expenses;Commercial Property Leases : First net in Net Lease - answer✔✔Pay property taxes;2nd Net in Net Net Commercial Lease - answer✔✔Pay property tax and insurance;Net Net Net Lease = Tri Net = Absolut ely Net - answer✔✔Real Estate taxes, maintenance, insurance;Shopping Center Lease - answer✔✔Most Complex;Ground Lease - answer✔✔20 to 99 years. Usually triple net;Property Value = - answer✔✔Property Value = Value of leased fee interest + Value of leasehold interest;If Market Rent > Lease Contract Rents ... then - answer✔✔Tenant possesses valuable leasehold interest;The promotion and marketing of space to neighboring users is termed: - answer✔✔Concentric marketing;The development of a recognizable logo which ties all advertising and promotional material together is an example of what the text calls: - answer✔✔thematic image marketing;some experts believe that ___of those who sign leases do so because they received a favorable impression when viewing the prope rty. - answer✔✔50%;The primary guidelines for evaluating the quality of prospective tenants include examining: - answer✔✔tenant's creditworthiness tenant's compatibility with existing tenants tenant's permanence potential;The value of the leased fee estate is equal to: - answer✔✔the value of the fee simple estate minus the value of the leasehold estate;A % of rent, or overage rent, is paid on gross sales receipts over a predetermined sales figure - answer✔✔True;Sometimes commercial lease rentals are tied to an index, usually the consumer price index - answer✔✔True;In a net net lease, the lesses are obligated to pay both property taxes and insurance premiums - answer✔✔true;Lessees may pay all operating expenses, including repairs and maintence in a tri net le ase - answer✔✔true;a benefit to a corporation participating in a sale -
and-leaseback deal includes receiving low cost funds to invest in main line products - answer✔✔true;an example of contract provision which limits the leesors exposure to unanticipated ex penses is an expense stop - answer✔✔true;landlords can have right of entry to maintain and market the apartment - answer✔✔true. they must let you know 12 hours in advance. can't come in unannounced;A sublet of a lease involves the sale of part of the lesse es' rights where the original lessees become lessors and the parties have a sandwich lease. - answer✔✔True;valid and enforceable lease must contain a description of the property - answer✔✔true;property management contracts est a fiduciary relationship betw een the owner and the manager - answer✔✔true;Chapter 9.....real estate market functions - answer✔✔allocating existing space among those who demand space supplying, adapating space to meet changing needs
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