industry essentials Flashcards
(26 cards)
how many americans live in rental housing
over 1/3
two categories of renters
renters by choice and renters by circumstance
4 decision matrix
location, life circumstances, housing cost, size
property as investment
responsible for the property as a financial investment. knowledge, skills, and decisions directly impact the property’s value, financial performance, and financial success
value
estimated monetary worth
investment
the use of funds to earn a profit
life cycle of multifamily real estate
growth, stability, decline, revitalization
general multifamily housing
conventional market rate
income amount
section 8, tax credit
type of resident
senior, student, military
type of ownership
condos co-ops renter single family
type /duration of use
mixed use, extended stay rental
what percentage of americans lives in rental housing
over 1/3
when renters decide where to rent, what three primary factors of location do they consider
proximity to work, walkability, proximity to transportation
when renters decide to rent, what 2 primary factors of life circumstances do they consider
flexibility and ability to move easily, reluctance to maintain a house
as a CAM, what do your knowledge, skills, and decisions directly contribute to?
the financial success and value of a property
what term describes an investment to increasing in value?
growth
what other factors impact investments?
risk, income, liquidity
when playing the role of an investor advocate, who is included
owners, investors, lenders
when playing the role of an resident advocate, who is included
residents, prospects, neighbors, employees
what is the key to advocating for all groups
maintain ethics and balance
what types of affordable housing are available
section 8, LIHTC, workforce housing
what types of senior housing are available to people over 55
independent living, assisted living, full service
in what type of housing do residents own a “share” of the property and occupy a unit as if they were owners
co-op
