Leasing &Property MGMT 5%

Question 1

Percentage, net, and gross lease def

Answer 1

Percentage- pay % of money coming in
Net- Taxes, insurance, maintenance
Gross- On residential properties and you pay a set amount

Question 2

Operating budget def

Answer 2

projects income and expenses of the property.

Question 3

cash flow report

Answer 3

monthly report shows actual income received and expenses paid. It also accounts for the owner’s expenses (such as mortgage payments) or other income (such as investments)

Question 4

Profit and Loss statement

Answer 4

show income and expenses, however, the profit and loss statement won’t include the financial activities of the owner (such as the mortgage payment).

Question 5

Budget comparison statement

Answer 5

compares our profit and loss statement back to the operating budget used earlier to project income.