Leasing and Marketing Flashcards
6 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Leasing and Marketing flashcards as text
What is the purpose of a 'comps analysis' in setting rental rates?
Answer: To compare the subject property's rents and features to similar competing properties
A comparable (comps) analysis surveys competing properties' asking rents, concessions, amenities, and occupancy to determine competitive rental positioning.
Which leasing metric measures the average number of days a unit sits vacant between tenancies?
Answer: Days on market / vacancy days
Vacancy days (days on market) tracks how long units sit empty between tenants, directly impacting revenue and indicating leasing efficiency.
What is the significance of the 'lease expiration schedule' for a commercial property manager?
Answer: It identifies when leases expire to plan renewal campaigns and avoid simultaneous mass expirations
Monitoring lease expirations helps managers stagger renewals, avoid cliff-edge vacancy risks, and start retention conversations with tenants well in advance.
What is 'amenity-based pricing' in multifamily leasing?
Answer: Setting rent premiums based on unit features like floor, view, or renovations
Amenity-based pricing charges premium rents for desirable features—top floors, corner units, renovated finishes—reflecting tenants' willingness to pay for those attributes.
What is a 'personal guaranty' in commercial leasing?
Answer: A promise by an individual (often the business owner) to personally cover lease obligations if the tenant entity defaults
A personal guaranty makes the guarantor (typically a principal of the tenant entity) personally liable for lease obligations if the tenant company fails to pay.
Which digital marketing strategy is MOST effective for apartment communities seeking to maximize online visibility?
Answer: Search engine optimization (SEO) and paid search (PPC) targeting local rental keywords
SEO and PPC targeting location-specific rental keywords capture prospective tenants actively searching online, delivering the highest-intent audience for apartment communities.