Property Management
In North Dakota, a commercial property manager typically earns their management fee based on:
AThe total value of the property
BA percentage of collected rents or a flat fee per month, as specified in the management agreement✓ Correct
CThe number of tenants in the building
DA percentage of the property's assessed value
Explanation
Commercial property management fees in North Dakota are typically structured as a percentage of collected rents (often 3-6% for commercial properties) or a negotiated flat monthly fee. The fee structure is defined in the management agreement and should align incentives between the manager and owner.
Related North Dakota Property Management Questions
- When a tenant remains in possession after their lease expires without a new agreement, this is called:
- A North Dakota landlord who wants to increase rent must generally:
- In North Dakota, commercial leases often require the tenant to provide the landlord with an 'annual financial statement.' This serves to:
- Which of the following lease provisions would be unenforceable in North Dakota residential housing?
- A North Dakota property manager who discovers a tenant has sublet the apartment without authorization should:
- A triple net (NNN) lease requires the tenant to pay:
- A North Dakota property manager should conduct periodic property inspections to:
- A North Dakota property manager handling a tenant security deposit deduction for cleaning must:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →