Property Management
A property manager's responsibility for capital expenditures (CapEx) typically includes:
ADay-to-day maintenance and repairs
BLong-term improvements such as roof replacement, HVAC upgrades, and major renovations✓ Correct
CCollecting monthly rents
DAdvertising for new tenants
Explanation
Capital expenditures involve major property improvements that extend the property's useful life or add value. These are distinct from routine operating expenses and typically require owner approval.
Related Delaware Property Management Questions
- In Delaware, what is an 'operating budget' for a managed property?
- What is a 'lease renewal' versus a 'lease extension' in Delaware?
- A Delaware commercial property manager collects a 'CAM fee' from tenants. What does CAM stand for?
- What is 'turnover cost' in Delaware residential property management?
- A Delaware landlord's right to enter a rental unit for non-emergency repairs requires giving the tenant how much notice?
- What is an 'asset manager' versus a 'property manager' in Delaware real estate?
- What is a 'net operating income' (NOI) and how is it used in Delaware property management?
- What is 'due diligence' in the context of a Delaware investment property purchase?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →