Term
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Definition
| act of encouraging people to sell or rent by claiming that the entry of a protected class of people into the area will have some negative impact on property values |
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Term
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Definition
| channeling of members of protected class to buildings or neighborhoods that are already occupied primarily by members of those same classes and away from neighborhoods of those from other classes |
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Term
| sherman anti (10) Law on price fixing SATL |
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Definition
| promote competition in an open marketplace. places constraints on price-fixing. manager shouldn't discuss rental rates with anyone other than the owner of the property and the tenants they are charging. |
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Term
| civil rights act of 1968 (10)Fair Housing Act |
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Definition
| prohibits ciscrimination in the sale, rental and financing of buildings, and other housing-related transactions based on race, color, and subsequent amendments extending to the protections to religion, national orgin, sex, family status, and disability |
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Term
| legal advertisements (10) |
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Definition
| includes references to race, sex, religion. human models should reasonably represent the majority and minority groups in the community. Should describe the property not the other tenants and the landlord. |
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Term
| Fair Credit Reporting Act FCRA (10) |
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Definition
| governs credit reporting bureaus and which information is given to which party. managers can require a credit report but criminal report must require the applicants permission. |
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Term
| when is it okay to discriminate (10) |
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Definition
| when the community is designated elderly (all older than 65) (85% are 55 and older) |
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Term
| rights on tenants credit report (10) |
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Definition
| can decide not to rent if credit report is bad. |
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Term
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Definition
| banned from paint in 1978. housing constructed before 1978 is affected. Managers must disclose the information that lead based paint is present. |
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Term
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Definition
| special leasing area located in a real estate developmet typically found in complexes larger than 100 units. includes display area, furnished models and an area than can be used to close lease transactions. |
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Term
| advertisement for apt (11) |
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Definition
| newspaper is most popular. should be brief but informative, appealing to the needs. apartment journals are an important tool. most useful advertising tool is the company's website. |
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Term
| all the gross incomes (11) |
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Definition
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Term
| definition of cap rate (11) |
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Definition
| an analysis on NOI. converts future income to a present value by assigning a number to the relationship between income and value. |
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Term
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Definition
| accounts for the decline in value from physical deterioration, functional obsolescence, and economic obsolescence. |
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Term
| what is profit/loss? NOI? ROI? (11) |
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Definition
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Term
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Definition
| ownership of unit and undivided common interest in the common areas. |
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Term
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Definition
| This number tells you how many months it would take for all the current homes for sale on the market to sell, given a monthly sales volume. of homes in an area: a 20% absorption rate is equivalent to five months of supply, and a 50% absorption rate is equivalent to two months of supply. |
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Term
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Definition
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Term
| what can a property manager not do because of civil rights act or fair housing laws |
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Definition
refuse to show, rent or negotiate with a person
discriminate in the terms or conditions of a lease
engage in discriminatory advertising
tell potential renters that a property is not available ,if it is
interfere with or intimidate a person to keep him from taking advantage of the full benefits of the fair housing act |
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Term
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Definition
| sex offender information must be public |
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Term
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Definition
| usually limited to large, prestigious or newly opened apartment complexes. |
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Term
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Definition
| allows the owner to analyze actual return on investment after taxes and decide whether it is economically more advagtageous to keep the property, invest more into it, refinance or sell. |
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Term
| planned unit development (PUDs) |
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Definition
| high density often mix residential with common recreational activities. |
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Term
| in which type of ownership model does the owner purchase shares in the corporation |
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Definition
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Term
| in which type of ownership model does the owner receive a deed to real property |
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Definition
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Term
| in which type of ownership does the owner have a proprietary lease on their unit |
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Definition
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Term
| what is an advantage to owning a manufactured home park |
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Definition
| there is a good chance the owner of the park will end owning units, efficient to manage because they are all in same area, low turnover because most people never move a manufactured home. |
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Term
| generally, property taxes are assessed separately on each unit in a |
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Definition
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Term
| BOMA building class definitions |
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Definition
| provide subjective standards to discuss office markets. |
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Term
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Definition
| prestigious buildings competing for best tenants with above average rental rates |
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Term
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Definition
| buildings for wide range of tenants with average priced rents for the area; fair to good quality |
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Term
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Definition
| buildings compete for tenants who require functional space priced below average rents for the area |
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Term
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Definition
| landmark buildings usually new with best technologies and best locations |
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Term
| does the classification of building class vary from city to city |
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Definition
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Term
| the four measurements pertaining to floor plans |
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Definition
construction area
rentable area
dominant portion
usable area |
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Term
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Definition
| sometimes called the new york method, measuring to the outside finished surface of permanent outer building walls. includes all area of enclosed floors of the building and even basements. |
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Term
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Definition
| measuring to the inside finished surface of the permanent outer building walls. all restrooms, janitor closets, electrical rooms are included |
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Term
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Definition
| inside finished surface of the permanent outer building wall which must be 50% or more of the vertical floor-to-ceiling dimension. |
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Term
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Definition
| number of square feet that can actually be occupied. rooms containing equipment for the building are excluded. |
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Term
| when construction begins on an office property should you place for lease signs on the building |
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Definition
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Term
| what should be included in a office property lease because of the length of most leases. |
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Definition
| escalation clause because it will cover the unavoidable annual increases in real estate taxes and operating expenses in addition to keeping up with anticipated increases in market rents. |
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Term
| should base rate be higher than minimum rate in an office space |
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Definition
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Term
| what to consider for spatial requirements |
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Definition
nature of business
types of staff positions
number of ppl in each position
task that each performf |
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Term
| absolute that can be charged for economic survival |
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Definition
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