Learning Champions Texas Principles Exam With Complete Solution

Learning Champions Texas Principles Exam With Complete Solution The _____ lists all cash that came into and all expenses incurred by a property during the reporting period. a. Property management agreement b. Bank statement c. Cash flow report d. Leasing agreement - CORRECT ANSWER-c. Cash flow report (chapter 7) When a property is not well-maintained, the result is: a. Preventive maintenance b. Deferred maintenance c. Escalation clauses d. Assignment and sublet - CORRECT ANSWER-b. Deferred Maintenance (chapter 7) BOMA's major concern is advocacy on the part of: a. Building owners and managers. b. Landlords and tenants c. Employment law and managers d. None of these are correct. - CORRECT ANSWER-a. Building owners and Managers. (chapter 7) Which of the following defines the rights and obligations of both landlord and tenant in the leasing of residential and commercial properties? a. Statute of Frauds b. Landlord and Tenant Act c. Federal Fair Housing Act d. TREC statutes - CORRECT ANSWER-b. landlord and Tenant Act (chapter 6) A(n) ______ is a lease of property where the landlord pays charges regularly incurred in ownership, such as taxes, insurance, utilities, and repairs. The tenant pays only rent. a. Graduated lease b. Net lease c. Lease and take back d. Gross lease - CORRECT ANSWER-d. Gross lease