CAPS Study Guide 2026
Everything you need to pass the CAPS exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CAPS Exam Format at a Glance
📚 CAPS Topics to Study (22)
✍️ Sample CAPS Questions & Answers
1. What is 'gross potential rent' (GPR) and how is it used in portfolio analysis?
Gross potential rent represents 100% occupancy at current asking or market rents, serving as the benchmark from which vacancy loss and concessions are subtracted to reach EGI.
2. What is a 'make-ready' process in apartment management?
The make-ready process encompasses cleaning, repairs, painting, and inspections performed on a unit between tenancies to return it to rentable condition.
3. What is the primary function of a Property Management System (PMS) in multifamily operations?
A PMS is the core operational platform integrating leasing, resident management, accounting, and maintenance workflows across all portfolio properties.
4. What technology enables residents to submit and track maintenance requests without calling or visiting the leasing office?
Resident portals allow self-service maintenance request submission with real-time status updates, reducing leasing office call volume and improving resident satisfaction.
5. Which of the several goals below is NOT what an owner might have for the portfolio.
Owners typically have goals related to the performance and value of their real estate portfolio, such as property renovation, cash flow generation, or selling property. "Rate of interest" refers to the cost of borrowing money or the return on an investment, which is a financial metric related to a portfolio but not a direct goal for the portfolio itself. Owners aim for high cash flow, increased property value, or strategic dispositions, which are influenced by interest rates, but the rate itself isn't the goal.
6. What is the significance of 'days on market' as a leasing performance metric?
High days-on-market indicate a unit is not leasing at the expected pace, which may signal overpricing, marketing deficiencies, or physical condition concerns.