Practice Test Geeks(CLP) Certified Leasing Professional Practice Test
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Property Evaluation & Analysis Flashcards

7 cards from real CLP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Property Evaluation & Analysis flashcards as text

  1. A leasing professional is comparing two floor plans. Unit A is 850 sq ft at $1,400/month; Unit B is 950 sq ft at $1,500/month. Which unit offers better value on a per-square-foot basis?

    Answer: Unit B at $1.58/sq ft

    Unit A = $1,400/850 = $1.647/sq ft; Unit B = $1,500/950 = $1.579/sq ft — Unit B offers more space per dollar.

  2. During a competitive survey, you note a nearby property offers 'one month free' on a 13-month lease. What is the effective monthly rent on a unit advertised at $1,500/month?

    Answer: $1,384.62

    Effective rent = ($1,500 × 12 months paid) / 13 total months = $18,000 / 13 = $1,384.62/month.

  3. Which of the following is the best indicator of a tightening rental market in a submarket analysis?

    Answer: Declining average days on market for available units

    Declining days on market indicates units are leasing faster, a clear sign of increased demand relative to supply — a tightening market.

  4. A 150-unit property reports the following: 10 units vacant, 5 units occupied but on notice to vacate, 3 units offline for renovation. What is the physical occupancy rate?

    Answer: 88.0%

    Physical occupancy = (150 - 10 - 5 - 3) / 150 = 132 / 150 = 88.0%.

  5. A leasing professional analyzing demographics for a new luxury community should prioritize which data source for income qualification thresholds?

    Answer: U.S. Census Bureau American Community Survey median household income data

    The ACS provides current, geographically specific household income data essential for estimating the qualified renter pool for luxury units.

  6. What does a persistently high turnover rate at a multifamily property most directly indicate to a leasing professional?

    Answer: Resident dissatisfaction or a mismatch between property offerings and target demographic

    High turnover typically signals that residents are not renewing leases, indicating dissatisfaction with the property, management, or a mismatch with resident needs.

  7. A leasing professional is tasked with setting rents for a newly renovated unit type. Which pricing strategy best aligns with revenue maximization principles?

    Answer: Price based on value differentiation — charge a premium reflecting the renovation's specific amenity upgrades

    Value-based pricing sets rents based on the specific features and benefits that differentiate the renovated unit, capturing the premium renters are willing to pay for those upgrades.