DC PROPERTY MANAGER EXAM QUESTIONS
AND CORRECT DETAILED ANSWERS ALREADY
GRADED A
Analysis of Alternatives - correct answer - This looks at
the theoretical costs and corresponding increase in rents
by making different improvements, even the subject
property's redevelopment.
Analysis of Competitive Properties - correct answer -
Understanding the subject property's strengths and
weaknesses compared to its competition are important
factors to know and to be able to explain to the owner.
Since most prospective tenants or residents will visit a
number of properties before making a decision, it is
important to understand how the subject property may
rank in relation to its competitors. By understanding this
information, the manager can develop a strategy to
improve the weaknesses and enhance the strengths
through the management plan and budget. For example,
if most competitive properties offer concierge services or
a health club, then the manager should investigate the
cost to implement these amenities and present the
findings to the owner. Often the only way to discover
some of this information is to tour each of the competing
properties.
, Assessed Value - correct answer - This is the value used
by government tax offices. Since it is frequently
determined using sophisticated mathematical models
that are applied to many similar types of properties over
a geographic area, it can be less accurate and produce
results that are higher or lower than other types of
"values".
Budget Process - correct answer - The annual process of
preparing a detailed list of all anticipated income and
expenses (both operating and capital).
Capital Expenditures - correct answer - Work performed
on properties that are occupied and operational with the
goal of trying to prevent the property from declining and
becoming obsolete.
Comparison Analysis - correct answer - A way of
gathering information about competitive properties,
including:
• Age of the properties
• Location advantages/Accessibility
• Curb Appeal
• Interior conditions, quality of finishes
• Amenities
AND CORRECT DETAILED ANSWERS ALREADY
GRADED A
Analysis of Alternatives - correct answer - This looks at
the theoretical costs and corresponding increase in rents
by making different improvements, even the subject
property's redevelopment.
Analysis of Competitive Properties - correct answer -
Understanding the subject property's strengths and
weaknesses compared to its competition are important
factors to know and to be able to explain to the owner.
Since most prospective tenants or residents will visit a
number of properties before making a decision, it is
important to understand how the subject property may
rank in relation to its competitors. By understanding this
information, the manager can develop a strategy to
improve the weaknesses and enhance the strengths
through the management plan and budget. For example,
if most competitive properties offer concierge services or
a health club, then the manager should investigate the
cost to implement these amenities and present the
findings to the owner. Often the only way to discover
some of this information is to tour each of the competing
properties.
, Assessed Value - correct answer - This is the value used
by government tax offices. Since it is frequently
determined using sophisticated mathematical models
that are applied to many similar types of properties over
a geographic area, it can be less accurate and produce
results that are higher or lower than other types of
"values".
Budget Process - correct answer - The annual process of
preparing a detailed list of all anticipated income and
expenses (both operating and capital).
Capital Expenditures - correct answer - Work performed
on properties that are occupied and operational with the
goal of trying to prevent the property from declining and
becoming obsolete.
Comparison Analysis - correct answer - A way of
gathering information about competitive properties,
including:
• Age of the properties
• Location advantages/Accessibility
• Curb Appeal
• Interior conditions, quality of finishes
• Amenities
