CPM Leasing and Marketing 2

Question 1

What is 'lease-up' in multifamily property management?

Accepted Answer

The period of filling a newly built or recently repositioned property with tenants to reach stabilized occupancy

Answer

The process of terminating all leases before a sale

Answer

Annual lease renewal negotiations

Answer

Transitioning from month-to-month to annual leases

Question 2

What is a 'right of first refusal' (ROFR) clause in a lease?

Accepted Answer

The tenant's right to match any offer the landlord receives before space is leased to another party

Answer

The landlord's right to reject any sublease

Answer

The tenant's right to refuse rent increases

Answer

The landlord's right to terminate before the lease expires

Question 3

Which metric best evaluates the effectiveness of a leasing team?

Accepted Answer

Conversion rate of prospects to signed leases

Answer

Number of maintenance requests handled

Answer

Total square footage managed

Answer

Operating expense ratio

Question 4

What does 'co-tenancy clause' mean in retail leasing?

Accepted Answer

A provision allowing a tenant to reduce rent or terminate if a key anchor tenant leaves

Answer

A requirement that all tenants share common area costs equally

Answer

An agreement that two tenants will share the same space

Answer

A clause requiring tenants to lease adjoining spaces

Question 5

What is 'usable square footage' vs. 'rentable square footage' in commercial leasing?

Accepted Answer

Usable is the tenant's exclusive area; rentable adds the tenant's pro-rata share of common areas

Answer

Usable is the total building area; rentable excludes exterior walls

Answer

Usable is gross area; rentable is net of structural elements

Answer

They are identical terms used interchangeably

Question 6

What is 'lease abstraction'?

Accepted Answer

A summary of key lease terms extracted from the full lease document for quick reference

Answer

The process of legally voiding a lease

Answer

A marketing summary of available lease space

Answer

A financial model of projected lease income