Commercial Real Estate | Commercial Property Types | Tenancy | Brokerage Compensation | Potpourri |
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What is five?
________ or more units in one property would be classified as commercial real estate.
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What is a midrise building?
Constructed in a similar fashion to highrise buildings but contain fewer floors
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What is the Security Deposit Act?
Regulates and protects the security deposits of residential tenants.
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What is party?
Brokers may share compensation with a ________ party of the transaction.
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What is 10-31 exchange?
A method of transferring property that defers the tax impact of the transaction
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What are databases?
The vast majority of commercial listing systems are __________
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What is super-regional shopping centers?
Has three or more anchor tenants in excess of
100,000 square feet and a large variety of other products and services in smaller shops; |
What is a magistrate?
The officer of the court who hears most actions for summary ejectment of a residential tenant by a landlord for non-payment of rent.
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What is 90?
The total amount of hours required to finish all post-licensing courses.
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What is an upfit?
Modifications needed to a leased space prior to being usable and open for business.
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What is free look period?
An opportunity to inspect a property and cancel the contract at any time before the expiration of the inspection period.
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What is retail?
This type is more likely to have common area management areas.
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What is the Residential Rental Agreements Act?
The most important legislation ever passed in North Carolina for the protection of residential tenants
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What is an unlicensed assistant...
An example of an individual who may not receive compensation for real estate services.
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What is a short sale?
When the sales price of the property is less than the total amount owed on the property.
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What is an office?
Rentable area, core plate, and core area are vital in this type of commercial real estate.In an apartment building, an investor asks to know how many units are available and how many were used over a period of time.
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What is Industrial?
This type of property is more prone to environmental considerations than any other type of commercial property.
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What is the term?
According to the NC Tenant Security Deposit Act what aspect of the lease determines the amount of security deposit a landlord can collect
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What is a real estate broker?
1) lists, sells, buys, auctions,* leases, rents, sells leases, or offers to do any of the foregoing, or otherwise negotiates the purchase, sale or exchange of real estate or improvements thereon,
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What is BOMA (Building Owners and Managers Association)?
The standard of measurement for office space.
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What is an absorption rate?
In an apartment building, an investor asks to know how many units are available and how many were used over a period of time.
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What is Transportation Improvement Plan?
Provides information on pending transportation improvement plans for roads and other transportation facilities in the area.
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What is the Service Members Civil Relief Act?
SCRA
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Who is the broker-in-charge?
Responsible for overseeing the work of all brokers, ensuring brokers have received continuing education and all advertising is handled appropriately.
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What are linkages?
Relationships between land uses and other components of the market or submarket.
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