Champions Commercial Real Estate
questions with answers.
Buffer Zone ANS -an area of land separating one land use from another
Variance ANS -permission to violate the rules
Police Power ANS -the right of the government to regulate and control the way land is used
Downsizing ANS -Changing the zoning of a property to lower the value use
Zoning ANS -the most common example of police power
Texas Property Code ANS -arranges Texas Statute Law into a logical order, making it more accessible
and understandable
Security Deposit ANS -is any advance of money, other than a rental application deposit of an advance
payment of rent that is intended primarily to secure performance under a lease of commercial property
Variances ANS -are often requested prior to the construction to avoid violation of the rules
Title 8 Landlord & Tenant ANS -The most important chapter of the Texas Property Code for property
managers and landlords
Noncormfing use of land ANS -a change in zoning can cause?
Manufactured Homes ANS -are built in a factory and are built to a nation-wide building code
Trust Account ANS -account managed by one party for the benefit of another in a banking institution
authorized to do business in Texas
,Safe Harbor Policy ANS -determines whether or not an advertisement is clear and conspicuous
Advertisement ANS -a written or oral statement or communication by or on behalf of a license holder or
service provider
Trust Money ANS -clients' money
Trust Account ANS -an account managed by one party for the benefit of another in a banking
instistution authorized to do business in Texas
Sales Agent ANS -Should not maintain a trust account
Open Carry and Concealed Carry Signage ANS -must appear in contrasting colors with block letters at
least one inch in height
30.06 ANS -establishments that will permit open carry on their premises, but prohibit concealed carry
30.07 ANS -Prohibits open carry on he premises
Deceptive Trade Practices Act (DTPA) ANS -allows an aggrieved consumer to sue a seller of goods for
damages
Goods ANS -Tangible chattels
Services ANS -means work, labor or repair of goods. Brokerage is an example
Consumer ANS -an individual, corporation, partnership, or government source who seeks to acquire
,Producing Cause ANS -requires proof that the act or omission was a significance factor in bringing about
the injury
Force Majeure ANS -Circumstances beyond the tenant of landlord's control that could affect
performance of the contract
Term ANS -beginning and ending date
Demised premises ANS -spaces transferred from the landlord to the tenant by the lease
CAM ANS -includes hallway, lawn and elevator maintenance
Indemnify ANS -Defend
Gross Lease ANS -a lease of property where the landlord pays charges regularly incurred in ownership,
such as taxes
Net Lease ANS -in addition to rent, the tenant pays expenses such as taxes
Single Net Lease (N) ANS -tenant pays rent and property taxes
Double Net Lease (NN) ANS -tenant pays rent, property taxes, and property insurance
Triple Net Lease (NNN) ANS -tenant pays rent, property taxes, property insurance, and maintenance.
(landlord is still responsible for structural repairs)
Feasibility Period ANS -Also known as due diligence period
UCC Search ANS -filed with the county clerk by an equipment leasing company notifying the public that
there is a prior lease/lein on the equipment and that it cannot be seized by a landlord
, Percentage Lease ANS -a lease in which all or part of the rental is based on the gross receipts of the
tenant's business. in the retail environment, a percentage lease obligates the tenant to pay a base rent
and a percentage of gross sales.
LEED ANS -a building certification program for properties that are "green"
Preventative Maintenance ANS -servicing a property and its equipment in order to prevent mechanical
failure and keep property values high
BOMA ANS -An organization that advocates on the part of the building owners and managers
Deferred Maintenance ANS -deterioration of a property due to delayed maintenance
Mitigation ANS -methods used to lower levels of radon in buildings
EMF's (electromagnetic fields) ANS -Energy Fields given off by power lines
Asbestos ANS -material previously used to insulate pipes in chimneys and roofs
Radon ANS -odorless, colorless, gas that is naturally produced by the decay of radioactive materials in
rocks underground
ESA (Environmental Site Assessments) ANS -assessment carried out by a qualified environmental
professional to determine whether or not a property has been contaminated by any previous or current
activities
Leverage ANS -Using borrowed money to make money
Capital Gain ANS -A return on property when it is sold for profit
questions with answers.
Buffer Zone ANS -an area of land separating one land use from another
Variance ANS -permission to violate the rules
Police Power ANS -the right of the government to regulate and control the way land is used
Downsizing ANS -Changing the zoning of a property to lower the value use
Zoning ANS -the most common example of police power
Texas Property Code ANS -arranges Texas Statute Law into a logical order, making it more accessible
and understandable
Security Deposit ANS -is any advance of money, other than a rental application deposit of an advance
payment of rent that is intended primarily to secure performance under a lease of commercial property
Variances ANS -are often requested prior to the construction to avoid violation of the rules
Title 8 Landlord & Tenant ANS -The most important chapter of the Texas Property Code for property
managers and landlords
Noncormfing use of land ANS -a change in zoning can cause?
Manufactured Homes ANS -are built in a factory and are built to a nation-wide building code
Trust Account ANS -account managed by one party for the benefit of another in a banking institution
authorized to do business in Texas
,Safe Harbor Policy ANS -determines whether or not an advertisement is clear and conspicuous
Advertisement ANS -a written or oral statement or communication by or on behalf of a license holder or
service provider
Trust Money ANS -clients' money
Trust Account ANS -an account managed by one party for the benefit of another in a banking
instistution authorized to do business in Texas
Sales Agent ANS -Should not maintain a trust account
Open Carry and Concealed Carry Signage ANS -must appear in contrasting colors with block letters at
least one inch in height
30.06 ANS -establishments that will permit open carry on their premises, but prohibit concealed carry
30.07 ANS -Prohibits open carry on he premises
Deceptive Trade Practices Act (DTPA) ANS -allows an aggrieved consumer to sue a seller of goods for
damages
Goods ANS -Tangible chattels
Services ANS -means work, labor or repair of goods. Brokerage is an example
Consumer ANS -an individual, corporation, partnership, or government source who seeks to acquire
,Producing Cause ANS -requires proof that the act or omission was a significance factor in bringing about
the injury
Force Majeure ANS -Circumstances beyond the tenant of landlord's control that could affect
performance of the contract
Term ANS -beginning and ending date
Demised premises ANS -spaces transferred from the landlord to the tenant by the lease
CAM ANS -includes hallway, lawn and elevator maintenance
Indemnify ANS -Defend
Gross Lease ANS -a lease of property where the landlord pays charges regularly incurred in ownership,
such as taxes
Net Lease ANS -in addition to rent, the tenant pays expenses such as taxes
Single Net Lease (N) ANS -tenant pays rent and property taxes
Double Net Lease (NN) ANS -tenant pays rent, property taxes, and property insurance
Triple Net Lease (NNN) ANS -tenant pays rent, property taxes, property insurance, and maintenance.
(landlord is still responsible for structural repairs)
Feasibility Period ANS -Also known as due diligence period
UCC Search ANS -filed with the county clerk by an equipment leasing company notifying the public that
there is a prior lease/lein on the equipment and that it cannot be seized by a landlord
, Percentage Lease ANS -a lease in which all or part of the rental is based on the gross receipts of the
tenant's business. in the retail environment, a percentage lease obligates the tenant to pay a base rent
and a percentage of gross sales.
LEED ANS -a building certification program for properties that are "green"
Preventative Maintenance ANS -servicing a property and its equipment in order to prevent mechanical
failure and keep property values high
BOMA ANS -An organization that advocates on the part of the building owners and managers
Deferred Maintenance ANS -deterioration of a property due to delayed maintenance
Mitigation ANS -methods used to lower levels of radon in buildings
EMF's (electromagnetic fields) ANS -Energy Fields given off by power lines
Asbestos ANS -material previously used to insulate pipes in chimneys and roofs
Radon ANS -odorless, colorless, gas that is naturally produced by the decay of radioactive materials in
rocks underground
ESA (Environmental Site Assessments) ANS -assessment carried out by a qualified environmental
professional to determine whether or not a property has been contaminated by any previous or current
activities
Leverage ANS -Using borrowed money to make money
Capital Gain ANS -A return on property when it is sold for profit
