Property Management
In Hawaii, an 'operating budget' for a managed property should include which categories?
AA. Only mortgage payments and property taxes
BB. Revenues (rent) and all operating expenses including maintenance, taxes, insurance, and management fees✓ Correct
CC. Capital improvements and depreciation only
DD. Only tenant deposits and rent collected
Explanation
A complete operating budget includes all income sources and all operating expenses—maintenance, repairs, property taxes, insurance, management fees, and utilities—to determine net operating income.
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