industry essentials

Question 1

how many americans live in rental housing

Answer 1

over 1/3

Question 2

two categories of renters

Answer 2

renters by choice and renters by circumstance

Question 3

4 decision matrix

Answer 3

location, life circumstances, housing cost, size

Question 4

property as investment

Answer 4

responsible for the property as a financial investment. knowledge, skills, and decisions directly impact the property’s value, financial performance, and financial success

Question 5

value

Answer 5

estimated monetary worth

Question 6

investment

Answer 6

the use of funds to earn a profit

Question 7

life cycle of multifamily real estate

Answer 7

growth, stability, decline, revitalization

Question 8

general multifamily housing

Answer 8

conventional market rate

Question 9

income amount

Answer 9

section 8, tax credit

Question 10

type of resident

Answer 10

senior, student, military

Question 11

type of ownership

Answer 11

condos co-ops renter single family

Question 12

type /duration of use

Answer 12

mixed use, extended stay rental

Question 13

what percentage of americans lives in rental housing

Answer 13

over 1/3

Question 14

when renters decide where to rent, what three primary factors of location do they consider

Answer 14

proximity to work, walkability, proximity to transportation

Question 15

when renters decide to rent, what 2 primary factors of life circumstances do they consider

Answer 15

flexibility and ability to move easily, reluctance to maintain a house

Question 16

as a CAM, what do your knowledge, skills, and decisions directly contribute to?

Answer 16

the financial success and value of a property

Question 17

what term describes an investment to increasing in value?

Answer 17

growth

Question 18

what other factors impact investments?

Answer 18

risk, income, liquidity

Question 19

when playing the role of an investor advocate, who is included

Answer 19

owners, investors, lenders

Question 20

when playing the role of an resident advocate, who is included

Answer 20

residents, prospects, neighbors, employees

Question 21

what is the key to advocating for all groups

Answer 21

maintain ethics and balance

Question 22

what types of affordable housing are available

Answer 22

section 8, LIHTC, workforce housing

Question 23

what types of senior housing are available to people over 55

Answer 23

independent living, assisted living, full service

Question 24

in what type of housing do residents own a “share” of the property and occupy a unit as if they were owners

Answer 24

co-op

Question 25

what are the differences among mid, low, and high rise apartment buildings

Answer 25

low rise has 4 stories or fewer
a midrise has 5-10
high rise has more than 10

Question 26

what is a corporate apartment

Answer 26

a fully furnished apartment equipped with all necessary amenities