List the various local areas impacts that can affect property and LP performance -
answer✔✔Physical location, physical building, curb appeal, gov, education, neighborhood,
access, employment, utilities, climate and medical access
the four typical reasons for utilizing a marketing plane include what areas - answer✔✔critical
need- new property, repositioning- adding new things, problem-solving- budget, sustaining-
review
describe the difference between a marketing objective and a marketing strategy -
answer✔✔marketing objections identify specific goals and define the metrics that will be used to
measure wether the goals have been successfully achieved. marketing strategies- identify the
steps needed to achieve marketing objections
what is achieved with market segmentation - answer✔✔reducing the target market to smaller,
more defined sub-markets
list the factors that affect and help to identify target markets - answer✔✔location, physical
characteristic, unit size, layout ,gov, social, price, economic, demographic characteristics
list four components of a market analysis - answer✔✔regional analysis, neighborhood analysis,
property analysis, competitor analysis
define market rent - answer✔✔rental rate quoted to the public and calculated either manually or
by automated revenue
define effective rent - answer✔✔rental rates reduced by incentives or con applied
define concessions - answer✔✔typically a rated discount applied to market rent
define unit mix - answer✔✔itemized listing of all units at a community, sorted by unit type,
configuration, square footage for each type
define rent schedule - answer✔✔current unit mix reflection the current market rate multiplied to
reflect total market rent for the property
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