Texas Real Estate Property Management Questions and Answers Latest 2024/2025 with complete solutions
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Course
Texas Real Estate Property Management
Institution
Texas Real Estate Property Management
Net lease - In a net lease the owner passes many of the costs to the tenant, who pays the taxes,
insurance and maintenance costs. Net leases are typically commercial leases.
Physical Deterioration - is when something within the property itself causes a loss in value.
Physical deterioration is ca...
Texas Real Estate Property Management
Net lease - In a net lease the owner passes many of the costs to the tenant, who pays the taxes,
insurance and maintenance costs. Net leases are typically commercial leases.
Physical Deterioration - is when something within the property itself causes a loss in value.
Physical deterioration is caused by a myriad of contributing factors, such as normal wear and tear,
deferred maintenance, aging of the buildings, or even negligence by the tenant.
Common Area Maintenance - If the lease is a "triple net" lease, it means the landlord will pass
through to the tenants of the building the expenses for the common area. Try to negotiate a cap on CAM
or get the landlord to agree to a set CAM amount.
Alternatitves to personal guranty - An alternative to executing a Personal Guaranty could be a
Letter of Credit, increased Security Deposit, or pre-paid rent
An Advisory Services Specialist would be a member of _______ - SIOR
An employer must pay FUTA to workers if their wages are more than __________per year - $1,500
Blogs - are websites used by individuals or companies to post regular commentaries or
information on topics of interest.
BOMA - The Building Owners and Managers Association is a federation of associations with over
16,000 members. The organization represents over nine billion square feet of commercial property.
Broker - means a person who, in exchange for a commission or other valuable consideration or
with the expectation of receiving a commission or other valuable consideration, performs for another
person.
, CAI - The Community Associations Institute is an organization that includes property management
firms, homeowner associations, and service providers.
Candidates for a CPM certification must meet the criteria established by: - IREM
Cash Flow - is the cash left over after all the expenses are deducted
Chapter 92 defines "dwelling" to exclude which of the following? - Temporary living space
Demand - is the amount of a product or service desired by buyers. In real estate, this refers
specifically to the number of people looking to purchase properties.
Economic Obsolescence - is when something outside the property causes a loss in value.
Economic obsolescence is the result of social causes such as a declining neighborhood, legislative
regulations, environmental changes, and adverse zoning changes.
Economics - refers to the study of the production, consumption, and transfer of wealth.
Employer Identification Number - (EIN) is a nine-digit number assigned by the IRS to businesses or
entities that report taxes, whether or not they employ others.
Fiduciary - is a person with a duty of trust to another person. A fiduciary always acts in the
interests of the principal.
Form I-9 - is for employment eligibility verification and is to be completed jointly by the employee
and the employer.
Form W-7 - is the application for IRS Individual Taxpayer Identification Number (ITIN).
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