CRM Cheat Sheet 2026

The 30 highest-yield CRM facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What is the internal rate of return (IRR) in real estate investment analysis? → The discount rate that makes the net present value of all cash flows equal zero
2. What is financial forecasting in CRM practice? → Predicting future conditions based on historical data and trends
3. What role does profit margin play in property management budgeting? → It ensures expenses are covered while generating profit
4. Which cap rate movement indicates that a residential rental market is becoming more competitive and values are increasing? → Cap rates compressing (declining)
5. Which federal law requires residential property managers to disclose known lead-based paint hazards in housing built before 1978? → Title X of the Housing and Community Development Act
6. What is the primary responsibility of a property manager? → To manage the leasing and maintenance of the property
7. Under the Americans with Disabilities Act (ADA), which type of residential property is most directly regulated regarding accessible design? → Multifamily housing with four or more units built after March 13, 1991
8. Lead-based paint disclosure requirements under federal law apply to residential properties built before which year? → 1978
9. Under the Fair Housing Act, which of the following is considered a protected class at the federal level? → Familial status
10. Which of the following best describes the concept of leverage in real estate investment? → Using borrowed funds to increase potential return on equity
11. What is the purpose of understanding landlord-tenant law? → To manage tenant expectations and rights
12. Which federal law prohibits employment discrimination based on race, color, religion, sex, or national origin? → Title VII of the Civil Rights Act of 1964
13. A landlord wins an eviction judgment but the tenant refuses to leave. The next step to legally remove the tenant is to: → Request a writ of possession from the court
14. Which economic indicator is most directly used to forecast residential rental demand in a metropolitan area? → Employment growth rate
15. Which expense is classified as a capital expenditure rather than an operating expense? → Roof replacement
16. Under the Americans with Disabilities Act (ADA), which areas of a residential apartment complex are most directly subject to ADA accessibility requirements? → Common areas and public accommodations
17. Which technology enables property managers to offer virtual tours of residential units to prospective tenants? → 3D virtual tour software utilizing 360-degree cameras
18. Under the concept of 'constructive eviction,' a tenant may legally break a lease when: → The landlord's failure to maintain the property makes it uninhabitable
19. What is the recommended frequency for conducting property safety audits in a well-managed residential community? → Annually at minimum, with additional inspections after significant events
20. The Americans with Disabilities Act (ADA) most directly affects residential property managers by requiring: → Accessible common areas in properties with public accommodations
21. Which trend best describes the 'flight to quality' phenomenon observed in multifamily residential markets? → Institutional investors selling C-class assets to acquire A-class properties
22. What is the importance of understanding local rental laws for property managers? → It ensures compliance with local regulations
23. Which of the following advertising practices is permissible under fair housing guidelines? → Including a photo of the property's exterior and amenities in the listing
24. A tenant who remains in the unit after the lease expires without the landlord's permission is legally known as a: → Holdover tenant
25. Under the income approach, what does the term 'effective gross income' represent? → Potential gross income minus vacancy and credit losses
26. What is the purpose of an energy audit at a residential property? → To identify opportunities to reduce energy consumption and lower operating costs
27. What is the primary purpose of a 'hold harmless' clause in a vendor contract? → To shift legal liability for vendor-caused injuries from the property owner to the vendor
28. Why is it important for property managers to maintain accurate records? → To ensure transparency and legal compliance
29. When using the income capitalization approach to value a property, which formula is used? → Value = NOI ÷ Cap Rate
30. What is the primary purpose of a Subordination, Non-Disturbance, and Attornment (SNDA) agreement in residential property management? → To protect tenant lease rights if the property is foreclosed and a new owner takes over