Which of the Following Classifications of Property Maintenance Includes the Day-To-Day

question 10

Multiple Choice

Which of the following classifications of property maintenance includes the day-to-day cleaning and upkeep required to maintain value and tenants?

• A) Custodial maintenance
• B) Corrective maintenance
• C) Preventive maintenance
• D) Deferred maintenance

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Definitions:

Present Value Interest Factors

A factor used to calculate the present value of a future amount when the interest rate and period are known.

Guaranteed Residual Value

Guaranteed Residual Value is an assurance that the value of an asset at the end of its lease term will be at least a specified amount.

Maintenance Agreement

A contract between a service provider and a client that outlines the terms for the maintenance of equipment, buildings, or software.

Implicit Lease Rate

The interest rate implied in a lease agreement, factoring both the lease payments and the value of the leased asset.