Which of the following is considered a fixed expense for an investment property?

Property tax represents a fixed expense for an investment property because it is a recurring cost that the property owner must pay regardless of the property's occupancy status or income generated. Fixed expenses are typically predictable and do not fluctuate significantly based on the operational activities of the property.

In contrast, property management fees, maintenance and repairs, and utilities can vary depending on usage, occupancy rates, and specific circumstances. For example, property management fees may change based on the level of service required or could be a percentage of rental income, while maintenance and repairs can fluctuate significantly depending on the age of the property and unexpected issues that arise. Utilities expenses can also vary significantly with occupancy levels and usage patterns since they often depend on tenant consumption. Thus, property tax remains a consistent fixed expense for property owners.