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Property Management

Principles 2 Chapter 20
Horizontales
Someone who manages real estate for another person for compensation. Duties include collecting rents, maintaining the property, and accounting for income and expenses
Insurance carried by an employer to provide medical care and a portion of lost wages to an employee who has a work-related illness or is injured at work
Insurance that protects against risks that could render the property owner responsible for certain damages to the property or persons of others
A type of insurance that packages several types of coverage into one policy
A form of coverage that provides income to a business in the event the premises become untenable
Evaluation and selection of appropriate property and insurance coverage
The value of a property after deducting an allowance for depreciation
The construction cost at current prices of a property that is not necessarily an exact duplicate of the subject property but serves the same purpose or function as the original
An agreement by an insurance or bonding company to be responsible for certain possible defaults, debts, or obligations contracted for by an insured party; used to ensure that a particular project will be completed at a certain date or that a contract will be performed as stated.
Verticales
A real estate agent who operates a property for its owner
A type of policy that protects a property owner or other person from loss or injury sustained as a result of theft, vandalism, or similar occurrences
Avoid, Control, Transfer, or Retain
A contract between the owner of income property and a management firm or an individual property manager that outlines the scope of the manager's authority to manage the property
A type of policy to protect against fire, hail, windstorm, and other damage