Exam (elaborations)
Unit 2 USAA Property Management Questions and Answers 2024
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Unit 2 USAA Property Management
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Unit 2 USAA Property ManagementBusiness Cycle - answer wavelike movement of increasing and decreasing economic
prosperity
The four phases of business cycle - answer expansion, recession, contraction, revival
comparable (comps) - answer properties used in a market analysis which are
substantially similar to the subject building or apartment
comparative income and expense analysis - answer A financial study of the projected
income from a property in as-is condition versus financial returns from that property if
suggested capital improvements were implemented
Economic oversupply - answerA market condition in which available rental space is
priced beyond the financial capabilities of potential tenants.
five-year forecast - answerA long-term projection of estimated income and expense for
a property based on predictable changes.
Gross Rental Income - answerIncome determined by multiplying the amount of space in
the building by the base rental rate for that type of building
management plan - answerThe financial and operational strategy for the ongoing
management of a property. Based on market analysis and property analysis and owner
goals
market analysis - answerregional and neighborhood studies of economic, demographic
to determine supply and demand and market tends
neighborhood analysis - answera part of the management plan, an assessment of five
factors in the market area of the subject property
operating budget - answerThe projection of income and expense for the operation of a
property over a one-year period.
optimum rents - answerIdeal rent for a specific type of unit in a defined market area,
may need to be adjusted to reflect pros and cons of a subject property
property analysis - answera study made to familiarize the manager with a the nature of
condition of a building, its position relative to comparable properties and its estimated
income and operating expenses
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