What is an example of miscellaneous income for a property?

Miscellaneous income refers to additional revenue that a property can generate aside from the main income from rents or lease agreements. In the context of the options provided, garage rentals and parking fees are examples of miscellaneous income because they represent charges collected for services or amenities that are not directly related to the primary rental of the property. This indicates that even if a tenant is renting a space, they may also pay extra for the use of a garage or parking spot, adding to the overall income generated by the property.

In contrast, property management fees are expenses related to managing the property and not income. Mortgage payments are also expenses, reflecting the costs associated with financing the property, while utilities expenses pertain to the costs of services provided, which are liabilities rather than income. Therefore, the concept of miscellaneous income is exemplified accurately by garage rentals and parking fees, as these represent additional revenue streams derived from property use that are not part of the traditional rent.