CCRM ( California certified residential manager) Exam

CCRM ( California certified residential manager) Exam California law requirements - Answer- every rental housing community with 16 units or more to have an employee or owner residing on site . in order to maximize rental revenues - Answer- it is necessary to set competitive rents gross potential rent (GPR) - Answer- is a total of all current market rents for each unit and can also be used as a rent roll . take the total number of units , multiply by the market rent rate of each unit and multiply by 12 for annual gross revenue projection. gross annual rent (GAR) - Answer- is a total of all current actual rental rates for occupied units and a current market rent for vacant units (multiply by 12 for a yearly calculation) this formula is use to calculate revenue for budgeting purposes . rent per square foot. - Answer- is the current rent divided by the unit square footage. (example : $1050 divided by 800 sq. ft= $1.31 per sq ft.) this formula is use to compare actual pricing with competitors . when applying concessions - Answer- is not necessary to give the discount of the first month's rent discounts can be given off the last month or as a discounted rental rate for each month of the tenancy. ancillary income - Answer- refers to sources of revenue other than rents . A reasonable accommodation is required when ? - Answer- a request for a reasonable acomodation can be made a any time , from the initial contact with a prospect to the final stages of the eviction process. occupancy standards - Answer- are highly debated issues within the industry , since there are mot set laws or regulations stating how many occupants an owner must allow in a rental unit. if 18 years or older - Answer- A separate application should be required of each adult applicant . a standard goal should be? - Answer- to convert 75% of all calls to walk - in traffic. all emails - Answer- should be responded to immediately ( within the 2 hour time frame ) prospects communicating email experts a quick reply . what is the important objective of a prospect visit ? - Answer- to demonstrate the product, benefits, and service of the property. steering - Answer- is an attempt to control the outcome of where a person will live based on their protected class or your personal opinion. there are two types of objections. conditions and stalls - Answer- conditions : are something that prevents the prospect from purchasing until their stipulation is met. stalls: occur when the prospect is putting off making a decision. criminal background checks - Answer- if criminal background checks are performed, they must be performed on every applicant. there must be a legal reason to deny an application such as - Answer- incomplete or false information on the application , unverifiable information, poor rental history or poor credit. california law states security deposit - Answer- charge can be no more than three times the monthly rent if the unit is furnished . or more than twice the monthly rent if the unit is unfurnished . effective January 2013 - Answer- the law prohibits a landlord from requiring tenants pay rent or the security deposit by electronic founds transfer (EFT) or cash only . A least one other form of payment must be allowed, such as checks or money orders. how prospects can fill out a application - Answer- go through the screening and approval process and fully execute their lease agreements using e- signature. three items that should be included in a market survey - Answer- Age, lease and occupancy level. fair housing law prohibits - An