Nc Post Licensing 303

Commercial purchase contract - Answer-vary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - Answer-Free look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - Answer-Contains a market analysis and derives value from capitalization rates Capitalization formula - Answer-I/R*V Value=NOI/Rate Potential Gross Income - Answer-Vacancy Collection losses Additional income Effective gross income - Answer-Operating expenses Net operating income - Answer-Debt service(mortgage), Capital expenditures reserves commissions Ground Lease - Answer-Dirt owners dream, common arrangements, costals, lake, reservations, hong kong is the world's largest Common Ground Lease Provision - Answer-Often Allowed construction of a building typically in the lease get to deduct rent as business expenses Full-Service Lease - Answer-Lease includes services, base rent + prorated expenses + utilities & services, lessor pays expenses, but they are shared among tenants, rent is usually higher than other leases, CAMs CAMs - Answer-Common area maintenance charges shared by all tenants Landlord - Answer-Lessor of the property; agents that have actual or apparent authority over the property Smoke & Carbon Monoxide Detectors - Answer-Smoke Mandatory, Carbon attached garage and fossil fuel appliances, landlord must install 10yr lithium batteries or hard wire; tenant replace batteries during the lease Constructive Eviction - Answer-Landlord Breach-Failure to maintain; Heath & safety. Tenant must move and relinquish possession. Actual Eviction - Answer-Tenant Breach-Breach of lease; usually failure to pay rent. Landlord must file a summary ejectment.