Property Management
The Americans with Disabilities Act requires commercial properties open to the public to provide accessible parking spaces in a ratio of approximately:
A1 accessible space per 50 total spaces✓ Correct
B1 accessible space per 25 total spaces
C1 accessible space per 100 total spaces
D2 accessible spaces per 10 total spaces
Explanation
The ADA requires at least 1 accessible parking space for every 25 spaces (or partial 25), with at least one van-accessible space. Ratios vary by total number of spaces.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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