FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

The computation of cost reimbursements from our retail tenants for common area maintenance, insuranceand real estate taxes is complex and involves numerous judgments including interpretation of lease terms andother tenant lease provisions. Most tenants make monthly fixed payments of common area maintenance,insurance, real estate taxes and other cost reimbursements and, after the end of the calendar year, we computeeach tenant’s final cost reimbursements and issue a bill or credit for the full amount, after considering amountspaid by the tenant during the year. The billed amounts could be disputed by the tenant or become the subject of atenant audit or even litigation. There can be no assurance that we will collect all or any portion of these amounts.We are subject to risks associated with the multi-family residential industry.We are subject to risks associated with the multi-family residential industry, including the level ofmortgage interest rates which may encourage tenants to purchase rather than lease and housing and governmentalprograms that provide assistance and rent subsidies to tenants. If the demand for multi-family properties isreduced, income generated from our multi-family residential properties and the underlying value of suchproperties may be adversely affected.In addition, certain jurisdictions regulate the relationship of an owner and its residential tenants.Commonly, these laws require a written lease, good cause for eviction, disclosure of fees, and notification toresidents of changed land use, while prohibiting unreasonable rules, retaliatory evictions, and restrictions on aresident’s choice of landlords. Apartment building owners have been the subject of lawsuits under various“Landlord and Tenant Acts” and other general consumer protection statutes for coercive, abusive orunconscionable leasing and sales practices. If we become subject to litigation, the outcome of any suchproceedings may materially adversely affect us and may continue for long periods of time. A few jurisdictionsmay offer more significant protection to residential tenants. In addition to state or provincial regulation of thelandlord-tenant relationship, numerous towns and municipalities impose rent control on apartment buildings. Theimposition of rent control on our multi-family residential units could have a materially adverse effect on ourresults of operations.If we are unable to recover from a business disruption on a timely basis our financial condition and results ofoperations could be adversely affected.Our business is vulnerable to damages from any number of sources, including computer viruses,unauthorized access, energy blackouts, natural disasters, terrorism, war and telecommunication failures. Anysystem failure or accident that causes interruptions in our operations could result in a material disruption to ourbusiness. If we are unable to recover from a business disruption on a timely basis, our financial condition andresults of operations would be adversely affected. We may also incur additional costs to remedy damages causedby such disruptions.Because certain of our assets are illiquid, we may not be able to sell these assets when appropriate or whendesired.Large commercial properties like the ones that we own can be hard to sell, especially if local marketconditions are poor. Such illiquidity could limit our ability to diversify our assets promptly in response tochanging economic or investment conditions.Additionally, financial difficulties of other property owners resulting in distressed sales could depress realestate values in the markets in which we operate in times of illiquidity. These restrictions reduce our ability torespond to changes in the performance of our assets and could adversely affect our financial condition and resultsof operations.We face risks associated with property acquisitions.Competition from other well-capitalized real estate investors, including both publicly-traded real estateinvestment trusts and institutional investment funds, may significantly increase the purchase price of, or prevent15