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5 Cards in this Set
- Front
- Back
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How is an intentional misrepresentation penalized? |
License discipline, fines, and possible incarceration. |
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What is effective gross income? |
Revenue from all sources minus losses from uncollected rents, vacancies, and evictions. |
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What do commercial fire and hazard insurance policies usually require coverage to equal? |
80% of the property's replacement value. |
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What is a gross lease? |
When the tenant pays an established, fixed rent, and the landlord pays all property operating expenses, such as taxes, insurance, utilities, and other services. |
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What is a constructive eviction? |
When a tenant vacates the leased premises and declares the lease void, claiming that the landlord's actions have made the premises unfit for the purpose described in the lease. |
