CHPA STUDY GUIDE QUESTIONS AND ANSWERS
SURE A+
✔✔Quality Control - ✔✔The primary role of this position is to inspect apartments prior to
guests' move in and after guests' move out and is the essential point for customer
service in the region. Additionally, this role supports the coordination of the setup and
the teardown of all furnishings in each corporate apartment and provides administrative
support to the region as needed.
✔✔Referral Fee - ✔✔A sum received by the referring party for a lead that results in a
booked reservation or the completion of a transaction.
✔✔Rental Increase - ✔✔An increase in rent owed by the tenant.
✔✔Rental Revenue - ✔✔The revenue charged to the guest for unit rent. The rental
revenue is the rate charged each guest times the number of nights the guest stayed in
the unit during the month and is shown in local currency (USD, CAD, GBP, etc.)
✔✔Revenue - ✔✔Under accrual accounting, it is the rent earned during the period
indicated in the heading of the income statement, regardless of when the money is
received from the tenant.
✔✔Reservation - ✔✔The end result of reserving or booking housing accommodations
for a relocating individual(s)
✔✔Reservation Confirmation - ✔✔The document used in conjunction with a client
master agreement that lists the specifics regarding a particular occupant's stay
(including arrival/departure dates, apartment address, etc.)
✔✔Residential Landlord Tenant Act - ✔✔Some states have adopted statutes governing
residential tenancies. These statutes are often grouped together and known as the
state's residential landlord tenant act. Not all states have these.
, ✔✔RFI (Request for Information) - ✔✔A formal document requesting general
information on a company and/or its services.
✔✔RFP (Request for Proposal) - ✔✔A formal document used to procure services or
goods, which may or may not include pricing. An RFP can include scope of work,
service level agreements, length of the agreement, company backgrounds, audited
financial statements and references.
✔✔RFQ (Request for Quotation) - ✔✔A formal document used to procure services or
goods, which includes pricing.
✔✔RevPar - ✔✔Revenue per available unit. A combination of paid occupancy
percentage and average daily rate. Unit revenues divided by available rooms (or units)
or, alternatively, paid occupancy percentage times average daily rate.
Gross Rental Revenue / Number of Rooms/Units Available OR Occupancy % x ADR
✔✔Sales Positions - Inside - ✔✔Acts as point of contact for current and potential clients
seeking corporate housing need(s) within the region. The primary purpose of this role is
to provide sales support to clients by preparing pricing and availability, facilitating new
lease paperwork, and ensuring the highest level of customer satisfaction.
✔✔Schedule Board - ✔✔A visual representation of a provider's inventory and
reservations.
✔✔Security Deposit Refund - ✔✔Landlords may make deductions from a tenant's
security deposit, provided they do it correctly and for an allowable reason. Many states
require landlords to provide a written itemized accounting of deductions for unpaid rent
and for repairs for damages and necessary cleaning that exceed normal wear and tear,
together with payment for any deposit balance. The deadlines vary from state to state,
but landlords usually have a set amount of time in which to return deposits, usually 14 to
30 days after the tenant moves out -- either voluntarily or by eviction.
✔✔Service Level Agreement - ✔✔An agreement between two corporate housing
providers used to ensure the performance of service providers in a third-party or
wholesale relationship.
✔✔Service Tickets - ✔✔Maintenance or upgrade/downgrade requests from a
client/guest that is entered and tracked via Internal Tracking System and tracked
throughout their active lease term.
✔✔Skip-Tracing - ✔✔The process of finding a customer who has either moved to avoid
paying debts or is trying to avoid payments by making it difficult for the collector to find
him/her.
SURE A+
✔✔Quality Control - ✔✔The primary role of this position is to inspect apartments prior to
guests' move in and after guests' move out and is the essential point for customer
service in the region. Additionally, this role supports the coordination of the setup and
the teardown of all furnishings in each corporate apartment and provides administrative
support to the region as needed.
✔✔Referral Fee - ✔✔A sum received by the referring party for a lead that results in a
booked reservation or the completion of a transaction.
✔✔Rental Increase - ✔✔An increase in rent owed by the tenant.
✔✔Rental Revenue - ✔✔The revenue charged to the guest for unit rent. The rental
revenue is the rate charged each guest times the number of nights the guest stayed in
the unit during the month and is shown in local currency (USD, CAD, GBP, etc.)
✔✔Revenue - ✔✔Under accrual accounting, it is the rent earned during the period
indicated in the heading of the income statement, regardless of when the money is
received from the tenant.
✔✔Reservation - ✔✔The end result of reserving or booking housing accommodations
for a relocating individual(s)
✔✔Reservation Confirmation - ✔✔The document used in conjunction with a client
master agreement that lists the specifics regarding a particular occupant's stay
(including arrival/departure dates, apartment address, etc.)
✔✔Residential Landlord Tenant Act - ✔✔Some states have adopted statutes governing
residential tenancies. These statutes are often grouped together and known as the
state's residential landlord tenant act. Not all states have these.
, ✔✔RFI (Request for Information) - ✔✔A formal document requesting general
information on a company and/or its services.
✔✔RFP (Request for Proposal) - ✔✔A formal document used to procure services or
goods, which may or may not include pricing. An RFP can include scope of work,
service level agreements, length of the agreement, company backgrounds, audited
financial statements and references.
✔✔RFQ (Request for Quotation) - ✔✔A formal document used to procure services or
goods, which includes pricing.
✔✔RevPar - ✔✔Revenue per available unit. A combination of paid occupancy
percentage and average daily rate. Unit revenues divided by available rooms (or units)
or, alternatively, paid occupancy percentage times average daily rate.
Gross Rental Revenue / Number of Rooms/Units Available OR Occupancy % x ADR
✔✔Sales Positions - Inside - ✔✔Acts as point of contact for current and potential clients
seeking corporate housing need(s) within the region. The primary purpose of this role is
to provide sales support to clients by preparing pricing and availability, facilitating new
lease paperwork, and ensuring the highest level of customer satisfaction.
✔✔Schedule Board - ✔✔A visual representation of a provider's inventory and
reservations.
✔✔Security Deposit Refund - ✔✔Landlords may make deductions from a tenant's
security deposit, provided they do it correctly and for an allowable reason. Many states
require landlords to provide a written itemized accounting of deductions for unpaid rent
and for repairs for damages and necessary cleaning that exceed normal wear and tear,
together with payment for any deposit balance. The deadlines vary from state to state,
but landlords usually have a set amount of time in which to return deposits, usually 14 to
30 days after the tenant moves out -- either voluntarily or by eviction.
✔✔Service Level Agreement - ✔✔An agreement between two corporate housing
providers used to ensure the performance of service providers in a third-party or
wholesale relationship.
✔✔Service Tickets - ✔✔Maintenance or upgrade/downgrade requests from a
client/guest that is entered and tracked via Internal Tracking System and tracked
throughout their active lease term.
✔✔Skip-Tracing - ✔✔The process of finding a customer who has either moved to avoid
paying debts or is trying to avoid payments by making it difficult for the collector to find
him/her.
