CAPS Resident Relations and Retention

Question 1

Which metric is the most direct indicator of resident retention success across a portfolio?

Accepted Answer

Average lease renewal rate

Answer

The lease renewal rate directly measures how many existing residents choose to stay, making it the clearest indicator of retention success.

Question 2

A CAPS supervisor notices that one property has a renewal rate 15% below the portfolio average. What should be the FIRST step?

Accepted Answer

Conduct resident exit surveys and analyze move-out reason codes

Answer

Analyzing exit surveys and move-out reason codes identifies the root cause of low renewals before implementing any corrective strategy.

Question 3

Under NAA best practices, how often should a portfolio supervisor audit resident satisfaction survey results across managed properties?

Accepted Answer

Monthly or quarterly as part of performance reviews

Answer

Regular monthly or quarterly review of satisfaction data allows the portfolio supervisor to identify trends and address issues before they impact retention.

Question 4

Which of the following resident communication strategies has the greatest impact on portfolio-wide lease renewal rates?

Accepted Answer

Proactively contacting residents 120-150 days before expiration to discuss renewal options

Answer

Reaching out 120-150 days before expiration gives residents adequate time to make informed decisions and allows staff to address concerns that could prevent renewal.

Question 5

A portfolio supervisor wants to implement a resident referral program. What is the primary benefit of such a program from a cost perspective?

Accepted Answer

It reduces resident acquisition cost compared to traditional advertising channels

Answer

Referral programs leverage existing resident relationships to generate qualified leads at a lower cost per acquisition than most traditional or digital advertising methods.

CAPS - Certified Apartment Portfolio Supervisor Practice Test

CAPS - Certified Apartment Portfolio Supervisor Practice Test

CAPS Resident Relations and Retention