Which of the following is considered a fixed expense in real estate investment?

Hazard insurance is classified as a fixed expense in real estate investment because it typically involves a consistent, recurring cost that does not vary significantly based on the property's usage or the number of tenants. This expense is usually predictable and is paid annually or semi-annually, making it easier for investors to incorporate into their financial planning.

In contrast, property management fees can fluctuate based on the services provided or the rental income generated, so they are not considered fixed. Maintenance costs can vary widely depending on the condition of the property and the nature of repairs needed, making them variable as well. Utilities are often contingent on usage and can change based on the number of occupants and their consumption habits, further categorizing them as variable expenses. Understanding these distinctions is crucial for managing a real estate investment portfolio effectively.