CAM TEST
What are emergency requests?
- no electricity - no plumbing or water - major water in filtration - no heat - no air conditioning - smoke alarm or carbon dioxide detectors sounding - apartment access problems
What is on the Credit Report?
-Acceptable accounts ratio - Debt to income ratio - Rent to income ratio - FICO score
What are some things to consider in marketing?
-Audience -Budget -Frequency occurance
What are tips for handling discipline?
-Be consistent -Be Fair -Discuss the situation with supervisor or another manager -Match the consequence to the offense
General liability includes
-Bodily injury -Property Damage -Personal Injuries
What are the elements of a neighborhood analysis?
-Boundary definition -Population characteristics and trends -Economic condtitions -Property types -Amenity and educational opportunities - Crime activity - Others
What is inspected when a resident moves out?
-Cleaning - Carpets - Damages - Equipment
What are the three keys to good customer service?
-Communication - Attitude - Relationships
What are reasons to fire a vendor?
-Conflict of interest -Non payment of taxes
Who can verify accomodations for modifications?
-Doctor, or medical professor -Third Party case worker -Therapist
Name 3 examples of vendors that require a license?
-Elevator -Swimming Pool -A/C
What did the 1988 Act add?
-Familial Status -Individual with disabilities
Who can provide mortgage loans?
-Federal government -mutual funds -banks
What are reasons for termination?
-Fired (involuntary termination) -Laid Off -Quit (resignation, voluntary termination) - Retired
What are the 5 types of expenses?
-Fixed -variable -capital -replacement reserves -debt service
Typed of mortgage
-Fixed rate -Variable -Balloon -Bullet loan
What types of people are included in familial statud protected class?
-Going to adopt -Pregnant women
What are the residents right to privacy?
-Government officials -Managers liability - Federal trade commission ruling - Fair and accurate transition act
What is active listening
-Non verbal gestures - Creating checkpoints - Encouraging the speaker
What are the elements of a contract?
-Offer -Terminating an offer -Acceptance -Consideration -Capacity
What is Public Relations?
-Ongoing relationships that exist between the apartment community and the public - Use to create a positive image
Qualifying for modification requires?
-Oral or written request -verification (if obvious- none are required) If not obvious verification required
What are the five P's?
-Place -Price -Product -People -Promotion
What are 3 economic condition?
-Population growth -Househole information -Job creation
What is the advertising campaign?
-Program of coordinated ads and other promotional activities intended to accomplish specific objectives
What is the IRCA?
-Prohibits employment and discrimination based on national orgin or citizenship status -Required the processesing of an I-9 form to prevent hiring of illegal aliens
Two Disadvantages of using contractor?
-Quality of work may vary - Contract disputes can result in property liens
The 1964 Fair Housing protects what?
-Race -Color -Religion -National Origin -Sex -Familial Status -Handicap
What is Internal Marketing?
-Refers to the onsite marketing practices that occue within the apartment community. - Includes staff and resident involvement in marketing
Three elements of a Market Analysis
-Regional Analysis -Neighborhood Analsis -Property analysis
List 3 sanctions that HUD uses to discipline management agents who violate operating procedures?
-Remove manager -civil penalties (fines) -criminal penalties
What is SWOT
-Strength -Weakness -Opportunities -Threats
What is the order of a make ready unit?
-Trash out -Pest Control schedule -Mechanical systems -Retrofits and rehab items -Sheet rock/ doors/ windows/ locks -Paint -Flooring -Final Clean
What do you do when someone comes in for a move out notice?
-Try to save the lease - Explain move out procedures - Send a confirmation
How do you manage occupancy methods?
-calculate occupancy trend -manage lease expiration -calculate turnover ratio
What are three factors that affect rental income?
-competitive market rents -physical occupancy -collection percent
Section 8 Housing vouchers assists who?
-low income -elderly -handicap
Define Market Segmentation
-maximize resources -tailor to market -more defined market frofile
Ways to meet OSHA guidelines?
-monthly safety meetings -provide healthy and safe work environment -file and keep all documentation of safety meetings
Valid proof of income?
-most recent pay stub -previous years W2 -Three months worth of bank statements
Name three factors that affect rental income
-occupancy -market rents (competitive) -collection percent
CAP X intems have?
-useful economic life -improvements -replacements
What is AIDA?
Attentions, Interest, Desire, Action
Employment applications may not include what?
Date of Birth
What act was passed in 1990
Disability Act
When can property insurance be cancelled?
Failure to pay premises
True or False: Someone addicted to drugs is a protected class
False
True or False: You required to have personal protective equipment instructions posted?
False
What does FMLA stand for?
Family Medical Leave Act
Typed of environmental hazards
Freon, lead, abestos, mold, carbon monoxide, Rado
What are reserve accrual for?
Future large cap X improvements
What is HOPA?
HOPA eliminates the requirement that 55 and older have significant facilities and servicing designed for elderly.
How to write an Adverse Action Letter? (FACTA)
Identify name and contact information of consumer reporting agency that supplied the information causing adverse action to be taken
What does IRCA stand for?
Immigration Reform and Control Act
What are two different types of discrimination?
Intentional Disparate Impact or Discriminatory Effect
Define investment
Investment is the use of funds to earn a profit
What should be the main focus of an effective incentive program?
Job performance
What is the purpose of preventative maintenance?
Lessen the likelihood of future maintenance problems
Who is responsible for market ready condition of property?
Manager
What are the Five classes that Fair Housing protect and the amendments?
Race, Color, religion, Familial status, natural origin, handicap, sex
How can you deal with a holdover?
Renew under previous lease terms
Define retrofitting
Replacing worn, older less significant equipment with newer energy serving models.
In federally assisted housing programs, tenant based subsidy?
Section 8
What is relationship selling?
Tailor presentation to specidic audience
What is an example of a fixed expense?
Taxes
What is FCRA
This law indentifies what regulations your company needs to comply with when checking a prospective resident's credit history
What is the purpose of team counseling?
To discuss a problem and achieve a plan of action
Define NOI
Total revenue less expenses
True or False: Insurance is an example of operating expense
True
True or False: Someone with HIV is a protected class.
True
True or False: The primary goal is to income NOT occupancy.
True
Define steering?
Trying to encourage prospects to lease at a specific location based on race, marital status or age.
What is negligence?
Unreasonable response to a foreseeable risk
What is sexual harassment?
Unwelcomed sexual advances. request for sexual favors and other verbal or physical conduct of sexual nature constitutes sexual harassment
What is Disparate Impact or Discriminatory Effect?
When a neutral policy or precedure has a disproportionately negative impact on a protected class
When does the acceptance of lease policies take place?
When lease contract is executed?
What are accomodations?
changes in the rules, services, practices or policies that allow individuals with disabilities equal enjoyment of housing but do not change the nature of the program or pose undue financial or administrative burdens on the provider.
What is GPR?
current rent at 100% occupied
What is FMLA?
requires employers to grant up to 26 weeks of unpaid leave during a 12 month period for: -To care for a covered service members -To care for a parent, spouse or child with a serioud health condition - To handle certain qualifying exigencies arising out of active military duty
What is the number one valid reason for eviction?
unauthorized occupant
What is the estimated expense to turn a unit?
$2000-$3000 or 2X3 unit rent
What is your Market?
- All current and potential residents who want to live in the apartment community and who are qualified to live there
What does Rent Toll Include?
- Apartment # - Move in date - Lease expiration date - Rental Rate - Amount collected
How do you evaluate a potential employee?
- Evaluate the interview - Verify references - Conduct a second interview - Use a pre- emplotment screening agency
How do you prevent sexual Harassment?
- Have a policy and communicate it - Provide periodic training to the staff - Be sure that management behaves in a way that supports your policy
What is a lease?
A legally enforceable contract that grants a resident the right and responsibilities of possession and use of an apartment for a specified period of time
What is Lack of Habitability?
A residence is not habitable if something of a serious nature disrupts the habitability of the residence or puts the resident at a health or safety risk.
ADA provision to title III is what?
ADA- leasing office area must meet requirements
What are accounting methods
Accrual- records all income expenses in the period they were earned regardless of when received or paid. Cash- all income and expenses when they are actually received or paid
What is Intentional Discrimination?
Acts or inactions based on the person's protected class
What does marketing involve?
1. Goals 2. Research 3. Analysis 4. Evaluation and measured results
What are the five contents of service requests?
1. Name and Address 2. Date & Time 3. Tech assigned 4. Permission to enter 5. Description of repair
Name three property assets to protect?
1. People 2. Property 3. Goodwill
What year was HOPA established?
1995
Service technicians waste approximately how many hours per day?
2
What is the minimum number of required bids?
3
What does exposure incident involve?
Blood or Bodily Fluids
What are modifications?
Changes to the physical characteristics of a residence or to the common areas of a building
What two forms of payments can be accepted for rent?
Check or Money Order
Purpose of a contract
Contracts are used to minimize risk to the property, owner and employees