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Leahgooo · 2020年03月10日

问一道题:NO.PZ201601050300000101

* 问题详情,请 查看题干

问题如下:

1. Which of the following is most likely accurate regarding Property #2 described in Exhibit 1?

选项:

A.

Operating expense risk is borne by the owner.

B.

The lease term for the largest tenant is greater than three years.

C.

There is a significant amount of percentage rent linked to sales levels.

解释:

The lease term for the anchor tenant is typically longer than the usual 3 to 5 year term for smaller tenants. The data in Exhibit 1 suggest that the operating expenses are passed on to the tenant; the sum of Property Management Fees and Other Operating Expenses equal the Expense Reimbursement Revenue. Also, Other Income is only $15,000 suggesting that there is a minimal amount of percentage rent linked to sales thresholds.

没看懂这题在问什么,可以解释一下怎么分析嘛?

1 个答案

xiaowan_品职助教 · 2020年03月11日

嗨,爱思考的PZer你好:


同学你好,这道题是根据表格来分析Property2的经营情况,

对于A选项,一般大型物业都是房东会把所有的费用先垫付了,跟租客针对运营费用会有三种方式,一种是房东全部支付(reimbursement revenue = 0),一种是房东和房客各付一部分(0

对于Property 2,除了租金收入,还有42w的expense reimbursement revenue, 并且expense reimbursement revenue这个收入,与运营费用相等(426248=83374+342874)那就说明,是租户承担了所有的运营费用。所以对于房东来说,不用承担运营费用的风险,大楼运营花多少钱,租户都会全单把钱给房东。

对于B选项, 意思是说最大的租户的租期大于3年,这里对应原版书知识点我贴在下面,说的是一般的租户租期3-5年,而主力租户的时间会更长。

对于C选项,Property2 里面,大部分的rent来自于固定的租金,固定租金不论sales level是怎样都要照常收取的,只有Other income里价值15000的租金是根据租户的销售额按比例提取,与总的租金相比,这一部分不能说是a significant amount,所以C选项是不准确的。


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