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Chapter 26 - Property Management

Horizontales
__ income must be sufficient to cover fixed expenses, operating expenses, and desired return on investment.
In a/an __ lease, the tenant pays an established, fixed rent, and the landlord pays all property operating expenses, such as taxes, insurance, utilities, and other services.
__ and industrial property managers are regularly called upon to make alterations to existing space to accommodate a tenant's needs.
__ made specifically for certain tenants are called build-outs or tenant improvements.
The __ requires managers to ensure that disabled employees and members of the public have the same level of access to facilities as is provided for those who are not disabled.
__ leases have the tenant paying rent plus some or all of the operating expenses attributable to the rented space.
A/An __ occurs when either the tenant or landlord violates any of the terms or covenants of the lease.
A variety of __ concerns confronts a property manager, ranging from air quality to waste disposal.
A/An __ reserve is a fund set aside from operating revenues for variable expenses, such as supplies, redecorating, and repairs.
__-coverage insurance is for specific risks, such as theft, vandalism, burglary, illness and accident.
One of the risk management strategies a manager or owner will choose is __. Meaning, removing the source of the risk, such as by closing off a dangerous area of the building.
Property __ is grounds for termination of the lease.
The __ Credit Opportunity Act, which prohibits discrimination in lending, applies to how property managers evaluate potential tenants.
The __ retains a right of entry into the premises in order to perform needed repairs and maintenance on a property.
Many types of __ are available to allow for the shifting of liability away from the owner.
Verticales
Either a gross or a net lease may also be a/an __ lease, in which the rental rate increases at specified times over the lease term.
The __ agreement should clearly specify the terms of rental payment.
A/An __ eviction occurs when a tenant vacates the leased premises and declares the lease void, claiming that the landlord's actions have made the premises unfit for the purpose described in the lease.
__ maintenance goes beyond the routine in attempting to deal with situations that can become serious problems if ignored.
Property managers are usually considered to be __ agents.
An operating __ based on expected expenses and revenues is a necessity for management.
__'s insurance policies do not cover what is owned by the tenant.
Finding and attracting the right kind of tenants for a property is the aim of a __ program.
A/An __ manager lives on the property and may be employed by a real estate broker, a managing agent or an owner to manage a property on a part-time or full-time basis.
__ may be fixed or variable.
A tenancy or estate at __ comes into existence when a tenant stays beyond the expiration of another type of lease without the lessor’s permission.
An estate for __ may be for any definite period—years, months, weeks, days.
The total of scheduled rents plus revenues from such sources as vending services, storage charges, late fees, utilities, and contracts is the potential gross __.
The landlord (by way of the property manager), is expected to deliver a property that is __.
An estate from period-to-__ does not have any definite end date.
__ bond-coverage insurance is for losses resulting from criminal or negligent acts of an employee.
__ maintenance activities are those necessary for the day-to-day functioning of the property.