CAPS Maintenance and Capital Improvements

Question 1

What distinguishes a capital expenditure (CapEx) from an operating expense (OpEx) in apartment portfolio accounting?

Accepted Answer

CapEx extends a property's useful life or adds value; OpEx maintains current condition

Answer

Capital expenditures improve or extend asset life (e.g., new roof), while operating expenses maintain the property in its current state (e.g., routine repairs).

Question 2

Which preventive maintenance practice most effectively reduces HVAC system replacement costs across a large portfolio?

Accepted Answer

Scheduled filter changes and coil cleanings on a set calendar

Answer

Regular filter changes and coil cleanings prevent overheating and compressor stress, extending HVAC lifespan significantly.

Question 3

A CAPS manager is prioritizing capital improvements across a 500-unit portfolio. Which framework is most appropriate?

Accepted Answer

Prioritize by safety risk, deferred maintenance impact, and ROI

Answer

A risk-based prioritization framework ensures safety issues are addressed first, followed by high-impact deferred items and those with strong ROI.

Question 4

What is a 'make-ready' process in apartment management?

Accepted Answer

The workflow to prepare a vacant unit for a new resident after the previous tenant moves out

Answer

The make-ready process encompasses cleaning, repairs, painting, and inspections performed on a unit between tenancies to return it to rentable condition.

Question 5

Which metric measures the average time from a maintenance work order being submitted to its completion?

Accepted Answer

Mean Time to Resolution (MTTR)

Answer

MTTR tracks the average duration from work order creation to completion, reflecting maintenance team efficiency and resident satisfaction.

CAPS - Certified Apartment Portfolio Supervisor Practice Test

CAPS - Certified Apartment Portfolio Supervisor Practice Test

CAPS Maintenance and Capital Improvements