Insurance, repairs and maintenance, staffing and management are just some of the line items that are sometimes adjusted on
a broker pro forma to reflect a lower cost than what is actually being incurred in the building.
On a 20 - unit building, this means you will have adjusted the
broker's
pro forma NOI down by $ 4,000 -LRB-($ 700 — $ 500) X 20 = $ 4,000).
1 DOS 98 Matter of DOS v. Fiumera - proper business practices;
broker licensed in her individual name violates RPL § 440 - a when not also licensed as an associate
broker while working under the name and auspices of another
broker;
broker not required to disgorge commission where individually licensed and additional associate
broker's license would be issued
pro forma upon payment of licensing fee;
broker did not engage in fraudulent practice when advised homeowner that radon report was acceptable when reasonably acted upon advice given to her by the party taking the test;
broker's offer to pay for remedial work indicates a good faith offer of settlement; $ 250 fine