CALP Test Math Equations
A concession program of one month free on a 12-month lease is applied on a prorated basis. A
65-unit one-bedroom one-bathroom apartment community has a market rent of $1,255 with
$1,255 concession. Calculate the effective monthly rent.
$1,150
Your community has 48 1/1 apartments leasing for a market rent of $1375. Your manager has
approved an incentive of one month free on a 12-month lease. What is the effective monthly
rent of the 1/1 in whole dollars?
$1260
Your manager is considering a leasing incentive on 12-month leases. Which would offer the
higher effective rent - Two weeks free on a 2/1 leasing for $1250 or one month free on a 2/1
leasing for $1275?
The $1250 unit
Which of the following communities has the higher total monthly market rent?
Property A - 24 units @$985; 48 units @$1345; 36 units @$2230
Property B - 36 units @$885; 36 units @$1265; 24 units @$2550
Property C - 48 units@$875; 18 units @$1385; 22 units @$2495
Property A
What is the rent per square foot for a 1/1 unit of 657 SF priced for $1015?
$1.54
A two- bedroom unit measuring 1175 square feet rents for $1.47 per square foot per month.
What is its monthly rent?
$1727
What is the community's average rent per square foot if the community offers the following mix?
24 units at 995 SF and $1285 per month
36 units at 1272 SF and $1650 per month
18 units at 1875 SF and $2450 per month
$1.30
, What is the average rent per square foot for these 4 properties in your monthly market survey?
Property A $1.46/SF;
Property B $1.37/SF;
Property C $2.02/SF;
Property D $1.87/SF
$1.68
What is the average 1- bedroom unit size at your community with 3 one- bedroom plans?
Plan A 24 units @645 SF;
Plan B 12 units @758 SF;
Plan C 36 units @952 SF
817SF
Which of three competitors has the largest average unit size?
Property A has 375 units and 275,675 total SF;
Property B has 257 units and 187,455 total SF;
Property C has 304 units and 248,616 SF
Property C
If a 457- unit property moves out 18 units per month average and moves in 15 units per month
average, what is the properties annual turnover rate?
47.3%
If a 669-unit property has an annual turnover rate of 47.5%, how many units moved out (use
whole numbers)
318
The Villa De Casa Responded to 989 prospective residents' inquiries and closed 707 Leases. In
the above example, what was the property-wide closing ratio? (Use who percentages)
71.4%
What is a 412-unit property's leased percentage with 387 units occupied; 12 on notice to vacate;
14 vacants pre-leased and 2 notices preleased?
94.9%
A concession program of one month free on a 12-month lease is applied on a prorated basis. A
65-unit one-bedroom one-bathroom apartment community has a market rent of $1,255 with
$1,255 concession. Calculate the effective monthly rent.
$1,150
Your community has 48 1/1 apartments leasing for a market rent of $1375. Your manager has
approved an incentive of one month free on a 12-month lease. What is the effective monthly
rent of the 1/1 in whole dollars?
$1260
Your manager is considering a leasing incentive on 12-month leases. Which would offer the
higher effective rent - Two weeks free on a 2/1 leasing for $1250 or one month free on a 2/1
leasing for $1275?
The $1250 unit
Which of the following communities has the higher total monthly market rent?
Property A - 24 units @$985; 48 units @$1345; 36 units @$2230
Property B - 36 units @$885; 36 units @$1265; 24 units @$2550
Property C - 48 units@$875; 18 units @$1385; 22 units @$2495
Property A
What is the rent per square foot for a 1/1 unit of 657 SF priced for $1015?
$1.54
A two- bedroom unit measuring 1175 square feet rents for $1.47 per square foot per month.
What is its monthly rent?
$1727
What is the community's average rent per square foot if the community offers the following mix?
24 units at 995 SF and $1285 per month
36 units at 1272 SF and $1650 per month
18 units at 1875 SF and $2450 per month
$1.30
, What is the average rent per square foot for these 4 properties in your monthly market survey?
Property A $1.46/SF;
Property B $1.37/SF;
Property C $2.02/SF;
Property D $1.87/SF
$1.68
What is the average 1- bedroom unit size at your community with 3 one- bedroom plans?
Plan A 24 units @645 SF;
Plan B 12 units @758 SF;
Plan C 36 units @952 SF
817SF
Which of three competitors has the largest average unit size?
Property A has 375 units and 275,675 total SF;
Property B has 257 units and 187,455 total SF;
Property C has 304 units and 248,616 SF
Property C
If a 457- unit property moves out 18 units per month average and moves in 15 units per month
average, what is the properties annual turnover rate?
47.3%
If a 669-unit property has an annual turnover rate of 47.5%, how many units moved out (use
whole numbers)
318
The Villa De Casa Responded to 989 prospective residents' inquiries and closed 707 Leases. In
the above example, what was the property-wide closing ratio? (Use who percentages)
71.4%
What is a 412-unit property's leased percentage with 387 units occupied; 12 on notice to vacate;
14 vacants pre-leased and 2 notices preleased?
94.9%
