Real Estate Lease
Right of owner to retake possession at the end of the lease period.
What is Reversion?
The estimate of the value of something.
The year the National Association of Realtors formed?
What is 1908?
An employment contract between a property owner and a real estate broker.
What is a real estate listing?
Where Professor Miller works.
What is Lindsey Properties?
Rent payments that increase over time.
What is graduated rent?
Method of valuing a property based on the monetary returns it can be expected to produce.
What is the income approach?
To recall and make void a license.
What is license revocation?
The listing broker is entitled to a commission no matter who sells the property during the listing period.
What is the exclusive right to sell?
What is 1978?
Property management duties that are performed with a manager on the premises?
What is on-site management?
The most probable price that property should bring in a competitive and open market comes from this approach.
What is the Market Approach?
May cover the limitation issues provided by bonds and recovery funds.
What is errors and omissions insurance?
Created when an owner states the price he/she wants for the property and agrees to pay the broker anything above this commission.
What is a net listing?
What is baseball?
For residential properties, state government often establish these to strike a balance between the responsibilities of landlords and tenants.
What are special landlord-tenant laws?
Loss in value due to deterioration.
What is depreciation?
Compensation arrangement when the agent does not share any commission with the sponsoring brokers.
Retains the lower commission for the bargain broker but allows the commission to increase to the other broker in order to give other brokers incentive to help market their properties.
What is variable rate commission?
The date of our next test.
What is November 21st?
The type of leasehold estate when a tenant stays beyond the legal tenancy without consent of the landlord.
What is tenancy at sufferance?
The balance that remains when the operating expense total is subtracted from the effective gross income.
What is net operating income?
A state-operated fund that can be tapped to pay for uncollectible judgments against real estate licenses.
What is a recovery fund?
The action of the individual whose efforts originated the procurement of the sale.
What is procuring cause?
How many hours this class covers towards your real estate license.
What is 45 hours?