Demand for professional property management began in the 1800's as several advancements emerged

Steel Frame/elevators/suburbs/investment opportunities

This 1980 act created remedies against the release of hazardous substances into environment.

Comprehensive Environmental Response Compensation Liability

This is NOT a tenant obligation

Reporting work order needs within 48 hours of discovery

Property supervisor (field manager) handles:

General administration, operation of property

The management plan cannot be completed until

The manager has identified/analyzed owner's goals

The purpose of the anti-trust laws:

Promote competition and prevent price-fixing

The BIC/PMIC is responsible for:

Agent's actions, money, trust accounts, etc

Proper notice for an industrial or commercial tenant is

6 to 12 months before expiration

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Licensing

174 termsStudBud Administration66 plays

Preparation for Property Management License Test.

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Questions 174

Answers

1
Largest source of demand for the services of professional property managers.
Residential Property
Real Property
Commercial Property
Private property
2
Demand for professional property management began in the 1800's as several advancements emerged
Steam power/steel frame/rural growth/population spike
industrialization/urban sprawl/mass transit/telegraph
Steel Frame/elevators/suburbs/investment opportunities
3
Income/Expense, Budget, Profit/Los, Tax Records, Cash-Flow Statement are all examples of
Operating reports
Analytics
Margin reports
Ledger documents
4
The first thing a property manager does when taking over a new property:
Read all leases and files
Review grounds
Interview staff
Meet with Regional Supervisor
5
Any housing building before 1978 can be affected by this commonly used substance.
Asbestos
Wood Dust
Lead-Based Paint
Coal Residue
6
This runs for long terms; 50 years or more
Net lease
Projected lease
Long term lease
Triple net lease
7
When the building is intact but the use is out of date
Planned obsolescence
Functional obsolescence
Unintentional obsolescence
Structural obsolescence
8
Organization formed in 1921, with national federation of local and regional groups.
NAA
BOMA
NCA
NLRB
9
This is a clinically diagnosed condition caused by toxic substances in a building.
Asbestos Related Disease Acquisition (ARDI)
Building related illness (BRI)
Construction Based Pathologies (CBP)
Structural Based Illness (SBI)
10
These offer office and industrial space or buildings for specialized fields.
Incubator Spaces
Mixed Use Spaces
Special Purpose Properties
Research Parks
11
Research parks may include spaces for companies just starting out. These spaces are called __
Business Development Centers
Incubator Spaces
Development Parks
12
This 1980 act created remedies against the release of hazardous substances into environment.
Environmental Protection Act
Ecological Assurance Act
Comprehensive Environmental Response Compensation Liability
Clean Air Act
13
Inspections and air filter changes are examples of
Planned maintenance
Conventional maintenance
Preventative maintenance
Sequenced maintenance
14
Most effective method for finding shopping center tenants
Social media solicitation
Personal contact solicitation
Telephonic solicitation
Literature solicitation
15
All persons, groups, or individuals have complete responsibility for loss/damage/expense.
Compensatory Liability
Strict Liability
Limited Liability
Joint & Several liability
16
This is NOT a tenant obligation
Maintaining reasonably safe/clean space
Reporting work order needs within 48 hours of discovery
Compliance with all housing codes affecting health/safety
17
Itemizes income/expenses for the property; principle means of communication for PM and owner
Monthly earnings statement
Business plan
Ledger
Profit report
18
Retail lessee pays basic rent plus a % of gross sales. May pay some or all property costs.
Percentage lease
Traditional Lease
Limited Lease
Ratio lease
19
Proper notice for residential tenants =
30 days before lease expires
120 days before lease expires
60 days before lease expires
90 days before lease expires
20
This is NOT one of the SC requirements for handling of money:
Deposit checks within 48 hours after offer accepted
Deposit cash within 48 hours
Witness to payment
21
Retail property managers' administrative responsibilities are governed by:
Return on investment
Owner's objectives
Market analyses
22
Property supervisor (field manager) handles:
General administration, operation of property
Executing evictions
Marketing of regional properties
Maintenance of grounds
23
The management plan cannot be completed until
Manager has brought staff to full force
The manager has identified/analyzed owner's goals
Owner has approved marketing strategy
HR has approved the plan
24
This is NOT an example of property law violation:
Lying
bird-dogging
subletting
non-disclosure
25
Commercial, Industrial lessee pays rent, utilities, taxes and assessments
Variable Lease
Net Lease
Fixed Lease
Gross Lease
26
The 1970 Clean Air Act requires this agency to set national air quality standards
FBI
EPA
ATF
FTC
27
According to the Fair Housing Act of 1968, a complaint can be filed with HUD:
Up to five years
Up to one year
Up to one week
Up to one month
28
This integrates regional information with detailed specifics about the property's local area.
Competitive Trend Analysis
Analytic Data Report
Market Analysis
Local Market Census
29
The purpose of the anti-trust laws:
Promote competition and prevent price-fixing
Prevent consolidation
Stabilize pricing
30
This legislation banned lead-based paint.
Lead Free Pain Act (1991)
Safe Paint Assurance Act (1984)
Lead Prohibition Act (1978)
Lead Based Paint Act (1978)
31
This has a definite beginning and definite end.
Estate for years
True Estate
Finite Estate
Real Estate
32
Residential properties do NOT include:
Town Houses
Hotels
Multifamily Apartment Communities
Condos
33
The BIC/PMIC is responsible for:
Agent's actions, money, trust accounts, etc
Timekeeping, attendance records
Maintenance records
Book-keeping, ledger, receipts
34
This business cycle phase sees less demand for products, so fewer are made.
Restriction
Recession
Contraction
Depression
35
The higher the cap rate,
the risk is not associated with the cap rate
the lower the risk
The higher the risk
36
This is NOT a requirement for property managers:
Federal Fair Housing Test
State licensing exam
30-hour pre-licensing course
37
The primary purpose of purchasing insurance is to transfer:
Risk
Property Rights
Responsibility
Liability
38
This arrangement provides for specific increases at a specific time.
Impact Clause
Capitalization Acknowledgement
Escalation Lease
Price Potentiation Clause
39
This prohibited practice channels members of a protected class to specific buildings or areas
Blockbusting
Redlining
Channeling
Steering
40
In a cooperative ownership agreement:
None of the above.
The owner purchase shares in a corporation holding title
Both A and B
A co-op shareholder receives proprietary lease for occupancy
41
Tenant obtains possession of the premises legally but remains on the property after expiration.
Tenancy at Sufferance
Undue Tenancy
Indefinite Tenancy
Illegal Tenancy
42
In a retail property, these are large stores that bring their own shoppers
Merchant Tenants
Anchor Tenants
Staple Tenants
Market Tenants
43
Proper notice for an industrial or commercial tenant is
3 to 6 months before expiration
1 to 2 months before expiration
6 to 12 months before expiration
44
Assessing prospects' space, transportation/labor needs occurs with ___ properties.
Residential
Commercial
Special Purpose
lndustrial
45
According to the SCRL Tenant Act, a landlord must
Bring action to recover
Disclose owner/agent in writing
All of the above
Deliver possession of unit
46
This is NOT a piece of info required for "disclosure" to the tenant.
Owner's Business License
Owner's Name
Owner's Address
47
This is a prevailing concern for shopping centers
Rent cost fluctuations
Discretionary income contraction
Traffic saturation
Tenant mix
48
Tenant pays fixed rental amount, while owner pays for all other expenses - typical residential.
Net Lease
Adjusted lease
Gross lease
Fixed lease
49
More units than potential tenants
Rental oversupply
Prohibitive oversupply
Economic oversupply
Technical Oversupply
50
Very important in retail setting - how a prospect's business niche affects other tenants.
Tenant compatibility
Shopping niche
Tenant Portfolio
Rental Mixture
51
Industrial lessee pays rent, utilities, taxes, assessments as well as insurances.
Net Lease
Net Net Lease
Strict Liability Lease
Augmented Net Lease
52
Built to accommodate a unique business or organization. I.E. hotels, clubs, and resorts.
Special Purpose Properties
Mixed Use Properties
Private Use Land Grant
Public Accommodation Properties
53
Fluctuations caused by legislative decisions, wars, fires, storms, floods, catastrophes, etc.
Acts of God
Negative Correlational Acquisition
Random Changes
Unforeseeable Asset Damage
54
This is NOT a civil penalty under the Fair Housing Act of 1968.
Court Fees
Asset Forfeiture
Legal Fees
$100,000 fine
55
Can include warehouses and are built-in suburban industrial spaces to relief traffic congestion
Specialty Storage Facilities
Distribution Facilities
Off Site Containment Properties
Urban Industrial Centers
56
True or false: Tenancy at will can be terminated by a death.
True
False
57
This legislation requires businesses and public places to be accessible to disabled persons.
Americans Accessibility Act (1997)
Americans With Disabilities Act (1992)
Disabled Persons Act (1993)
Handicap Accommodations Act (1988)
58
This features Individual ownership within, undivided outside, separately assessed and taxed.
Suite Style Housing
Town Houses
Time Share
Condominiums
59
General correspondence file contains
All communication with staff
All communication with ownership
All communication with tenants
All communication with management
60
Some single occupant property when purpose served is religious or charitable.
None of the above
Special Accommodation Property
Non-Profit Property
Institutional
61
This looks at 6 major factors like boundaries, loal codes, transportation, local economy, etc
Market analysis
Market trend
Neighborhood analysis
62
This law requires information about certain sex offenders to be available to the public.
Ashley's Law
Megan's Law
Mary's Law
Kelly's Law
63
This occurs with 15 days absence after default of rent. Does not terminate the lease.
Leave of Tenancy
Temporary Tenancy
Abandonment
Deferment
64
Industrial properties use what kind of lease?
Technical lease
Net lease
Gross lease
Strict lease
65
Why have new factories & branch facilities located in suburban areas?
Changes in the nation's transportation patterns
Restrictive regulatory changes
Urban sprawl
Fluctuating trade agreements
66
Duty and trust of confidence regarding handling of money/finances.
Cash flow duty
Fiduciary duty
Financial duty
Debt duty
67
These industries sell to private or industrial consumers near points of distribution.
Urban Based Industries
Commodity Industries
Market-oriented industries
Textile Exchange Industries
68
Created in 1939, this organization sponsors courses like CAM, CAMT, and CAPS.
NLRB
BOMA
CTE
NAA
69
The property manager seeks to:
Achieve the objectives of the property owners
Generate income for the owners
Increase or preserve the value of the property
All of the above
70
This business cycle phase is when consumers venture back into the market.
Recession
Revival
Contraction
Collapse
71
This is a byproduct of manufactured goods which may not be subject to environmental law.
Hazardous Waste
Hazardous Material
Industrial Waste
Commercial Byproduct
72
This features individual interest in a unit and an undivided common interest in common areas.
Suite Apartment Format
Condominium Ownership
HOA Agreement
Town House Rental
73
Members of this group are involved in the apartment industry, including ownership, management.
NLRB
EPA
NMHC
AAE
74
When obvious repairs are postponed and not made when needed.
Delayed maintenance
Planned maintenance
Long-term maintenance
Deferred maintenance
75
This IS a remedy for landlord's non-compliance
Legal action within five days of non-compliance
Constructively evict themselves after 14 days notice
76
This provides retail property managers with a standard system for reporting income/expenses.
Standard method of accounting for shopping center operations
Automated bill pay
Standardized bookkeeping policy
Streamlined accounting software
77
An employee of a building occupant, responsible for internal arrangements of the leased space.
Assistant Property Manager
Retail Manager
Facilities Manager
Tenant Manager
78
Common in retail property - payment of fixed rental base plus percentage of gross income.
Percentage lease
Non-fixed lease
Ratio lease
79
This is NOT prohibited by the Fair Housing Act of 1968
Blockbusting
Steering
Redlining
Rent Spiking
80
Tenant moves out due to conditions of property 14 days after written notice.
Technical Eviction
Constructive Eviction
Willful Eviction
Deconstructive Eviction
81
Includes all land/facilities that convert raw materials into finished products.
Lofts
Commercial Property
Industrial Property
Warehouses Property
82
Housing code compliance, keeping habitable property, keeping essential services, etc fall under
Special Notice Work Orders
Capital Improvements
Grounds for constructive eviction
Maintenance of Premises
83
This style of advertising projects a central theme of property - does not convey every point
Personal marketing
Billboards
Brochures
Mail campaigns
84
This is the space measuring from the inside surface to the permanent outer building walls.
Real Property
Tenant Space
Rentable Area
Taxable Area
85
The purpose of the SCRL Tenant Act is
To update the Fair Housing Act
To simplify the SC Rental Act of 1993.
To clarify and modernize the law governing rental dwellings
86
Colorless chemical, cause of indoor air quality complaints - strong odor.
Hydrogen Monoxide
Formaldehyde
Asbestos
Carbon Monoxide
87
True or false: Regarding entry/quiet enjoyment, emergencies allow access to unit at any time.
True
False
88
Commercial properties do NOT include:
Large warehouses
Multistory office buildings
Strip malls
Manufactured home parks
89
The Fair Housing Amendments of 1988 added these to classes:
Familial Status/Handicap
Sexual Preference/Gender
All of the above
Race/Religion
90
This occurs when potential tenants cannot afford the price of the space.
Economic Oversupply
Prohibitive Inflation
Price Mobility
Over-extension
91
Often consists of warehousing, light manufacturing, or assembly zones.
Incubator spaces
Research Parks
Industrial Parks
Enterprise zones
92
This encourages people to sell/rent by claiming the entry of some will badly affect property.
Blockbusting
Guiding
Redlining
Steering
93
The costliest form of marketing/advertising, used primarily used in industrial/commercial.
Television ads
Billboards
Radio spots
Direct mail
94
Upkeep of grounds and building's exterior are the tasks of
Concierge
An industrial Property Manager
A residential assistant manager
95
This enhances overall quality/desirability of neighborhood, maintains property values.
Agreements/Contracts/Bonds
Accommodations/Allowances/Permits
Covenants/Conditions/Restrictions
96
This legislation ensures competition in the marketplace and prevents monopolies through the FTC
Performative Market Act
Monopoly Act
Sherman Anti-Trust Act
Nash Insider Trading Act
97
Attendant whose duties today include personal services, like dry cleaning.
Concierge
Leasing Assistant
Maintenance Technician
Guest Service Specialist
98
This provides extra storage space for homeowners and apartment dwellers.
Industrial properties
Warehouses
Commercial properties
Ministorage facilities
99
This legislation requires the preparation of an environmental impact statement
National Ecological Protection Act (1994)
United States Environmental Insurance Act
National Environmental Policy Act (1970)
American Environmental Defense Act (1968)
100
Cash flow formula = Net operating income before debt service minus debt service minus ___
Recurring Expenditure Changes
Reserves
Capital Project Expenditures
101
This must be completed in 30-day accounting period showing itemized deductions .
Rent concessions
Change in income verification
Credit Check
Security deposit/prepaid rent
102
A standard method of accounting for shopping center operations is pushed by:
National Commercial Property Association
Rural Land Institute
Urban Land Institute
Association of Commercial Ordinances
103
This legislation established a comprehensive approach for combating air pollution by the EPA.
Environmental Protection Act (1971)
Clean Air Act (1970)
Air Protection Act (1965)
Soil, Air, Water (SAW) Act
104
This is NOT a remedy for a tenant's non-compliance.
Legal Action after 14 days of breach of lease
Tenant personal forfeiture within 5 days of non-payment
Eviction after 5 days of non-payment
Recovery of 3X rent or 2X damages
105
A situation where willing sellers and willing buyers exchange goods and services.
Supply side economy
Market
Niche economy
106
Tenant pays rent for land only and any improvements revert to landlord at lease's termination.
Real Lease
Limited Lease
Ground lease
Improvement lease
107
Manages properties for corporations that invest in real estate
Corporate Supervisor
Assistant Corporate Manager
Corporate Property Manager
Real Estate Manager
108
This is not one of the ways to identify a property:
Commercial Property's previous owner
Commercial property's exact land area
Individual house addresses
109
This is NOT an exclusion to the SCRL Tenant Act
Hotels
Institutions
Timeshare rentals
Single Family Residential
110
Long-term movements =
35 years or more
50 years or more
15 years or more
20 years or more
111
Rentable Area divided by the Usable Area =
Rental Percentage
R/U Quotient
Rental Quotient
R/U Ratio
112
This is NOT one of the property management accounting requirements by SC Law.
Receipts/Dispersement
Attendance Records
Journal/Ledger
Reports/Documentation
113
Most common use of this item is storage of petroleum products.
Substratum Polyurethane Containers (SPCs)
Underground Storage Tanks
Self-Contained Oil Perimeter (SCOP)
Petroleum Containment Vessels
114
This holds and protects third party money
Secondary Account
Third Party Account
Join Acount
Escrow Account
115
Est. 1933, offers property managers chance to share ideas to instruct newcomers to industry
Institute of Property Management (IPM)
Institute of Real Estate Management (IREM)
Rental Professionals Association (RPA)
Property Management Association (PMA)
116
Supervises and is responsible for portfolio of properties. Does not manage properties directly.
Regional Financer
Real Estate Asset Manager
Corporate Property Supervisor
Portfolio Manager
117
Rate of return received on investment based on net income. Lower rate of return = higher value.
Capitalization rate
Principle interest rate
Inverse Return Rate
118
Indefinite period of time which exists as both parties agree beyond original lease.
Tenancy at large
Contractual tenancy
Open Option Lease
Tenancy at will
119
When preparing the budget forecast, a manager should present:
Projected Revenue Reductions
Rental Rates for Estimates
All of the above
Anticipated Increases
120
Financial status of commercial or industrial tenants can be found using this reference
Don & Bradley
Dun & Bradstreet
Carter & Bradstreet
Bradley & Dawson
121
According to entry/quiet enjoyment these are the hours of unit access for scheduled maintenance
8 a.m. - 6 p.m.
10 a.m. - 3 p.m.
9 a.m. - 5 p.m.
7 a.m. - 5 p.m.
122
The four classifications of real estate
Residential/Commercial/Industrial/Special Purpose
Residential/Retail/Mixed Use/Special Purpose
Residential/Commercial/Mixed Use/Manufacturing
123
This is the most important means of advertising for retail spaces
Word of Mouth
Signage
Print Ads
Radio Spots
124
The landowner rents space to the owner of a manufactured home or rents such a home to a tenant
Apartment homes
Mixed use spaces
Manufactured home parks
Camp ground spaces
125
The Fair Housing Act of 1968 prohibits discrimination based on:
Race/Color/Nationality
Religion/Creed
All of the above
Sex/Gender/Handicap
126
This is the purpose of the statute of frauds
To prevent frauds or disputes over oral agreements
To free states from federal fraud codes
Defines difference between 'fraud' and 'misrepresentation'
To make fraud law consistent from state to state
127
Usually lower priced with minimal maintenance cost, higher density, open spaces.
Urban Unit Developments
Open Concept Developments
Minimalist Urban Construction
Planned Unit Development
128
Insurance purchase for leased property is transferring the risk
Risk awareness
Risk management
risk assessment
risk disbursement
129
This substance is broader in scope. Can include everyday items like paint, household cleaners.
Biohazard
Chemical Compound
Hazardous substance
130
This is a type of insurance to protect employees injured on the job:
Worker's Compensation
Incidental insurance
AFLAC
131
What are the two categories of commercial real estate
Retail Property and Special Property
Industrial Property and Manufacturing Property
Office Property and Retail Property
132
Net spendable NOI minus debt service
Profit Pattern
Debt Service
Debt Collateralization Ratio
Cash Flow
133
Court action to remove tenant
Actual eviction - ejectment
Permanent Eviction
Technical Eviction
Judicial Eviction
134
Gross Rental income + income from other sources - losses incurred =
Rental income
Total income
Leasing income
Adjusted Gross income
135
This is designed to produce building improvements and maximum utilization of open spaces.
Unit Development Strategy (UDS)
Space Usage Guide (SAG)
Planned Unit Development (PUD)
Property Plan of Action (PPA)
136
Man-made, permanent attachments are
Improvements
Augmentations
Capital Projects
Enhancements
137
Not a formalized contract, but describes dynamic often found in institutions, banks, colleges
Verbal employment contract
Apprenticeship
Employer-employee relationship
Partnership
138
This is NOT one of the basic elements of a lease
Possession of premises
Term of lease
Complete legal name and signatures
Rights and obligation of one party
139
Indefinite time period lease that can continue as long as both parties agree
Tenancy at large
Unlimited Tenancy
Residential tenancy
Tenancy at wil
140
Gross Potential Income =
100% occupancy at market rate
25% occupancy at market rate
55% occupancy at market rate
75 % occupancy at market rate
141
In industrial properties, one of the most important inquiries to ask a prospect
Recent repair status
Exact zoning status
Valuation of Property
142
Property manager's employees who handle funds have to be covered by
Insurance
guarantee of coverage
Surety bond
143
Personal property, owns stock or shares in corporate who owns property, fulfill corporate aims.
Contingency Rental Agreement
Cooperatives-Proprietary Lease
Primary Proprietary Lease
Corporate Cooperative Lease
144
This legislation increased recovery period of nonresidential property from 31.5 to 39 years.
Property Recovery Act of 1993
Revenue Reconciliation Act of 1993
Revenue Recovery Act of 1993
145
Obtained legally only with written consent of applicant; history of bill payment
Credit report
debt fidelity analysis
Payment history
bill report
146
Extends from the surface of a parcel to the air above and soil/minerals below.
Actual Property
Real Estate
Real Property
Adjacent Property
147
This type of business park includes a high ratio of office space
Industrial Parks
Office Parks
Commercial Parks
Special Purpose Properties
148
Representative of only the principle on a specific matter of transaction.
Special Agent
General Agent
Limited Agent
Subjective Agent
149
For office properties, the neighborhood analysis emphasizes:
Transportation/Parking/Proximity
Median Property Values
Competitor Data/Market Price Data
Traffic Data/Surrounding Property Valuations
150
Industrial lessee pays rent, utilities, taxes, insurances as well as maintenance
Maintenance Lease
Net Lease
Net Net Net Lease
Optimum Lease
151
This practice eliminates corrective maintenance
Pre-emptive maintenance
Reoccurring maintenance
Repetitive Maintenance
Preventative Maintenance
152
All of the tenant's remaining rights in the property is given to a third party
Rental re-assignment
Lease Re-Establishment
Assignment of lease
Lease expulsion
153
Each state's laws regarding the conduct of persons/organizations, including in real estate.
State statutes
State policies
State codes
State ordinances
154
Around 100K sq. feet, supported by at least 1,000 families within a 1.5 radius. 15-20 stores.
Family shopping center
Neighborhood shopping center
Mixed use retail center
Small chain center
155
This business cycle phase is when prices increase due to greater demand.
Expansion
Growth
Inflation
Liquidation
156
The decline in value from physical deterioration
Appreciation
Depreciation
Regression
Devaluation
157
This business cycle phase occurs when supply begins to surpass demand. Peak of cycle.
Recession
Depression
Contraction
Restriction
158
Cap rate formula = net operating income before debt service divided by property value X _____
100
50
10
200
159
This may be required for underground storage tanks and hazardous waste storage.
Environmental Protection Insurance
Hazardous Material Insurance
Pollution Liability Insurance
Pollution Offset Insurance
160
This permits the landlord to retain the right to terminate a % lease if gross sales fall short
Merchant Viability Clause
Performance assurance clause
Termination Clause
Recapture clause
161
Multistory, low-rent buildings once used for manufacturing - reminders of industrial past.
Industrial property
Official Designation Historic Place
Special Purpose Building
Loft
162
This arrangement features a sharing ownership plan, right to use property for certain periods.
Vacation Time share
Mutually Held Property Contract
Joint Property Agreement
Dual Property Purchase
163
To qualify as materially participating, one must devote:
50% of personal services or 750 hours of service
100 Hour Certification Program Completion
None of the above
25% of personal service and 200 hours of service
164
Provides goods, services, facilities, or accommodations to the public.
Special purpose property
Industrial Property
Commercial Property
Public-Private partnership
165
The Civil Rights Act of 1866:
Prevents property sales discrimination
Guaranteed all persons the right to vote.
Freed the slaves
Prohibited racial discrimination of any kind.
166
Residential, lessee pays fixed rent
Variable lease
Net Lease
Gross lease
Fixed Lease
167
This is the index of the profit for a particular company
Margin Analysis
Profit report
Cap rate
Stockholder report
168
These are 'smart' buildings, using automation systems and advanced telecommunications.
Intelligent Buildings
Electronically Enhanced Centers
Media Enhanced Properties
Telebuildings
169
The graduated escalation of lease rates often used in commercial properties to assist new biz
Fee in lieu of clause
Escalation clause
Step up clause
Increase clause
170
This is a set of guidelines on good business conduct.
Code of Ethics
Governing Rules
States Statutes
Regulatory Policies
171
These spaces are often 300K--1 Million sq. feet, usually national chains, some smaller stores.
Shopping Centers
Strip Malls
Power Centers
Retail Centers
172
Permanent files do NOT contain:
labor contracts
mortgage and title information
management contract
property tax information
173
Some of a tenant's remaining right in the property is given to a 3rd party through
subletting
Re-Assignment
Lease Forfeiture
Third Party Leasing
174
If the agreement does not specify when rent is due, then it defaults to:
The end of the rental period
The second Monday of each month
The second Friday of each month
The beginning of the rental period

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