Which of the following expenses would NOT be included in an operating statement used to calculated net operating income in the income approach to value?

Question

Quizplus · Accepted Answer

Capital additions are not considered operating expenses as they are investments made to improve the property over time. Operating expenses that are typically included in the operating statement used to calculate net operating income include maintenance, real estate taxes, and reserves for replacement.

Which of the Following Expenses Would NOT Be Included in an Operating