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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


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