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CMCP QUESTIONS - SECTION 2 (INSURANCE) / QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ $11.99   Add to cart

Exam (elaborations)

CMCP QUESTIONS - SECTION 2 (INSURANCE) / QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+

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  • Course
  • CMCP
  • Institution
  • CMCP

What is a building' most valuable asset? - ANS Tenants Fair rent calculations may apply to options to do what? - ANS Renew, expand, and periodic rental increases What will the fair market rental value generally be based on? - ANS Comparable leases of comparable space What is comparab...

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  • September 23, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CMCP
  • CMCP
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Studyclock
K
C
LO
YC
D
U



CMCP QUESTIONS - SECTION 2
ST




(INSURANCE) / QUESTIONS AND
CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) ALREADY
GRADED A+

, What is a building' most valuable asset? - ANS Tenants

Fair rent calculations may apply to options to do what? - ANS Renew, expand, and
periodic rental increases

What will the fair market rental value generally be based on? - ANS Comparable




K
leases of comparable space




C
What is comparable space? - ANS The comparable space must be in a building and
area comparable to the premises. (geographically, highly prominent space, age of the
building, configuration of a center, type of tenants in the building, premium amenities)




LO
In making rent comparisons for a ground lease, it is important to state whether the
premises will be appraised as what? - ANS Vacant land or as improved and whether
applicable zoning and other private/governmental restrictions will be considered
YC
What does CAM mean? - ANS Common Area Maintenance

What is a gross lease? - ANS Tenant pays only base rent and the landlord pays for all
OpEx. Used in many office leases, especially older buildings
D

What is a modified gross lease? - ANS Items spelled out that require additional
payment by Tenant. Typically utilities and real estate taxes are excluded. Used in many
suburban office leases.
U



What is a single-net lease? - ANS Base rent is paid to the landlord and includes OpEx
ST




incurred by the landlord. Tenant pays property taxes separately. Was commonly used
for industrial buildings/warehouses in the 70s and 80s but not as common today.

What is a double-net lease? (net-net) - ANS Base rent is paid to the landlord and
includes OpEx. Tenant pays property taxes and insurance separately. Was commonly
used for industrial buildings/warehouses in the 70s and 80s but not as common today.

What is a triple-net lease? (net-net-net) - ANS Rental payments are base rent paid to
the landlord and do not include OpEx. Landlord undertakes management of property at
the tenant's expense. First used with single-tenant buildings but now common with large
portfolio landlords, especially in urban markets

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