real estate principles in ca ch 11 & 12

Approximately how many new employer establishments survive at least two years

2/3

Property Management

A branch of the real estate business involving the marketing, operation, maintenance and day-to-day financing of rental properties.

A mobilehome is considered to be real property after four factors are met:

A. Obtaining a building permit. B. Placing the mobilehome on a foundation. C. Obtaining a certificate of occupancy. D. Recording a document reflecting that the mobilehome has been affixed to a foundation system

Individual Building Manager

An individual employed by an owner or management company to manage a single large property, usually a high-rise or apartment structure

Goodwill

An intangible but saleable asset of a business derived from the expectation of continued public patronage

All persons who acquire or release an interest in a mobilehome must notify the:

Department of Housing and Community Development

Business Opportunity

The assets for an existing business enterprise including its goodwill. refers to the sale or lease of an existing, ongoing business enterprise. The sale of a business opportunity generally involves the sale

Mobilehome

a structure transportable in one or more sections, designed and equipped to contain not more than two dwelling units to be used with or without a foundation system. "Mobilehome" does not include a recreational vehicle

An individual employed by an owner or management company to manage a single large property, usually a high-rise or apartment structure is referred to as:

a superintendent

There are three general approaches to valuation:

a. Asset valuation b. Return on investment c. Appraisal

A property manager is:

an agent of the owner

Small Business

an independent business with fewer than 500 employees

Mobilehome Park

any area or tract of land where two or more mobilehome lots are rented or leased or held out for rent or lease to accommodate mobilehomes used for human habitation

Solid minerals:

are real property

. Personal property is also referred to as:

chattel

Resident Manager

lives on the premises and will receive free rent in partial or complete compensation for services rendered. In California, any residential property with sixteen or more units must have a resident manager.

Minerals

may be in either a solid or a liquid state. Solid minerals include coal, ores, and metals. Solid minerals are considered part of real property. Liquid minerals include gas, oil, geothermal steam, and other movable elements. Ownership does not pertain to the actual minerals

Solid minerals are known as:

minerals in place

A mobilehome is considered to be:

personal or real property

Property Manager

the owner's agent who is responsible for the ongoing management of the owner's property