Property Valuation (alternative)
In Maryland, the 'economic rent' of a property refers to:
ARent reduced under rent control
BThe rent the property could command in the open market✓ Correct
CThe actual rent being paid by the current tenant
DThe rent set by the local housing authority
Explanation
Economic (or market) rent is the rent a property could command in the competitive open market — it may differ from contract rent if the tenant has been there for many years.
Related Maryland Property Valuation (alternative) Questions
- An appraiser in Maryland determining the highest and best use of a property would consider:
- When a Maryland appraiser makes a positive adjustment to a comparable sale, it means:
- Functional obsolescence in a Maryland home appraisal refers to:
- A Maryland appraiser uses three comparable sales to value a property. After adjustments, the indicated values are $310,000, $315,000, and $320,000. The appraiser's final estimate of value is likely:
- The direct capitalization method used by Maryland appraisers estimates value by:
- An appraiser using the cost approach for a new Maryland home that is exactly like the subject just built next door would likely give:
- The principle of progression in Maryland real estate means:
- Maryland's Property Tax Assessment Appeals Board (PTAAB) hears appeals from:
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