Property Management
A Wyoming property manager calculating 'net operating income' for a managed property would include all of the following as operating expenses EXCEPT:
AProperty management fees
BMortgage principal and interest payments✓ Correct
CProperty taxes
DInsurance premiums
Explanation
Mortgage principal and interest payments are debt service—not operating expenses. NOI is calculated before debt service to provide a measure of the property's income-producing ability independent of its financing structure. Operating expenses include management fees, taxes, insurance, maintenance, and utilities.
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