Exam (elaborations)
RE Property Management - Chap 13 Questions and Answers 2024
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RE Property Management - Chap 13
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RE Property Management - Chap 13All of the following are useful when marketing office property EXCEPT (brochures,
signs, direct mail and classified ads) - answerclassified ads
While longer lease terms are most desirable, to protect the owner from missing out on
rising mar- ket rates, the lease should contain - answeran escalation clause
An employee of an office building tenant who is responsible for the internal arrangement
and fur- nishing of the leased space is called a - answerfacilities manager
One of the MOST effective methods to locate a new tenant for an office property is -
answercanvassing a list of qualified prospects
The absorption rate is determined by - answercalculating the number of square feet that
have historically been leased per year
Which of the following factors was MOST impor- tant in the selection of office facilities,
according to one survey? - answerCost
Office space is designated Class A, B, C, or D on the basis of guidelines - answerbased
on age, location and market position
The base rate for an office building - answershould reflect the amenities of the space
and competition in that area
An older building, recently completely renovated, is located in a popular area amid
several presti- gious brand new buildings. By BOMA standards, the older building would
be classified as - answerB
According to the BOMA method of measuring office space, - answerconstruction area is
determined by a procedure similar to the New York method
The New York method has NOT achieved wide acceptance because - answerit
accounts for all the construction area of a building and is difficult to "sell" to prospects
The ratio of rentable space to usable space is sometimes called the - answerloss factor
When preparing a market analysis on an office property, the manager should pay close
attention to present market conditions and - answercurrent economic trends
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