REM 300 Study Guide - Final Guide: Earnings Before Interest And Taxes, Appraisal Institute, Capitalization Rate

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 300
• Professor: David Scofield

Document Summary

Exam mac arena exam seat #346 row 22 29. Market: voluntary exchange of goods/services among owners: real estate space market (rental market) Space market (interior property): market for usage of real property. Tenants exchange rent with landlords for right to use land and built space: real estate asset market (property market) Asset market: voluntary exchange of ownership of real property. Buyers exchange money with sellers for ownership rights to land and build space. Demand side includes individuals, households, or firms who want to use space for consumption or production purposes. Supply side includes real estate owners who rent or lease space to tenants. Rent is price of right to use space for a period of time. May be measured in $ per square foot per year (office space), $ per month per unit (apartments). Determined by interaction of supply and demand forces. Both supply and demand are effected by government policy.