DC Property Management & Real Estate Investment Mastery Exam:
Sublease/Sublet Agreements, Management Plans, Analysis of Alternatives,
Physical/Functional/Economic Obsolescence, Gross Potential Rental Income,
Pass-Through Income, Effective Gross Income, Operating Expenses, Commercial
Property Expense Ratios, Net Operating Income (NOI), Debt Service, Cash Flow
& Projections, ROI, Capital Expenditures, Chart of Accounts, Operating
Statements, Gross/Net Leases, Percentage Rent, Bundle of Rights, Leasehold
Interests, Tenancy at Will/Sufferance, Escalator Clauses, Separation of Funds,
Investment Rate, Payback Period, Curative/Deferred/Routine/Preventative
Maintenance, Certificate of Occupancy, Business License Compliance, DC Rental
Housing Act, Annual Rent Adjustment, Heat & Hot Water Requirements, Statute
of Frauds, Zoning Classifications & Regulations, Conforming Use & Board of
Zoning Adjustments, Rental Conversion & Sale Acts, Tenant/ District Opportunity
to Purchase Acts Exam Questions Verified and Provided with Complete A+
Graded Rationales Latest Updated 2026
sublet/sublease agreement
a lease agreement between a tenant a sub-tenant where the original tenant essentially
becomes a middle-man between the landlord and the subtenant assumes both landlord duties
to the sub-tenant and tenant duties to the landlord
management plan
describes in detail the subject property''s current use along with its physical condition, fiscal
projections and any operational issues
analysis of alternatives
, rehabilitate the property w/out altering its existing use, modernize the property by updating
finishes etc., changes the use of the building or demolish for new development, conversion to
condos
Physical Obsolescence
a condition of aging or deferred maintenance ex) worn carpets, dead landscaping
functional obsolescence
old or outdated designs or building system's ex) equipment that is not repairable b/c parts are
no longer made
Economic Obsolescence
loss in value due to outside forces
gross potential rental income
max amount of income that a property can generate from all sources. represents the total
potential income from all units/spaces being fully occupied and all amounts owed by
residents/tenants being collected in full
pass through income, expense reimbursements, or recovers
when tenants are billed for some or all of the property's operating expenses. owner will be
reimbursed for some or all of the property's operating expenses ex.) reimbursements for
utilities landscaping, etc.
Sublease/Sublet Agreements, Management Plans, Analysis of Alternatives,
Physical/Functional/Economic Obsolescence, Gross Potential Rental Income,
Pass-Through Income, Effective Gross Income, Operating Expenses, Commercial
Property Expense Ratios, Net Operating Income (NOI), Debt Service, Cash Flow
& Projections, ROI, Capital Expenditures, Chart of Accounts, Operating
Statements, Gross/Net Leases, Percentage Rent, Bundle of Rights, Leasehold
Interests, Tenancy at Will/Sufferance, Escalator Clauses, Separation of Funds,
Investment Rate, Payback Period, Curative/Deferred/Routine/Preventative
Maintenance, Certificate of Occupancy, Business License Compliance, DC Rental
Housing Act, Annual Rent Adjustment, Heat & Hot Water Requirements, Statute
of Frauds, Zoning Classifications & Regulations, Conforming Use & Board of
Zoning Adjustments, Rental Conversion & Sale Acts, Tenant/ District Opportunity
to Purchase Acts Exam Questions Verified and Provided with Complete A+
Graded Rationales Latest Updated 2026
sublet/sublease agreement
a lease agreement between a tenant a sub-tenant where the original tenant essentially
becomes a middle-man between the landlord and the subtenant assumes both landlord duties
to the sub-tenant and tenant duties to the landlord
management plan
describes in detail the subject property''s current use along with its physical condition, fiscal
projections and any operational issues
analysis of alternatives
, rehabilitate the property w/out altering its existing use, modernize the property by updating
finishes etc., changes the use of the building or demolish for new development, conversion to
condos
Physical Obsolescence
a condition of aging or deferred maintenance ex) worn carpets, dead landscaping
functional obsolescence
old or outdated designs or building system's ex) equipment that is not repairable b/c parts are
no longer made
Economic Obsolescence
loss in value due to outside forces
gross potential rental income
max amount of income that a property can generate from all sources. represents the total
potential income from all units/spaces being fully occupied and all amounts owed by
residents/tenants being collected in full
pass through income, expense reimbursements, or recovers
when tenants are billed for some or all of the property's operating expenses. owner will be
reimbursed for some or all of the property's operating expenses ex.) reimbursements for
utilities landscaping, etc.
