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CAM Industry Essenti
CAM Industry Essentials
| Term | Definition |
|---|---|
| renters decision matrix | location housing cost size life circumstances |
| categories of renters | by choice and by circumstances |
| apartment calculator | |
| CAM roles | VPRIB maximize value, purchasing decisions, collect rent, process invoices, pay bills |
| value | estimated monetary worth |
| investment | use of funds to earn a profit |
| life cycle of multifamily real estate | growth stability decline revitalization |
| growth | improvements are made to a property and demand increases |
| stability | property undergoes little change and is operating optimally |
| decline | property requires increasing amount of upkeep to retain original utility and demand increases |
| revitalization | property is renovated and increased demand is stimulated |
| investment goals | RCTDPVP rate of return, cash flow, tax benefits, investment diversification, quick profit from repositioning, increased value over time, pride of ownership |
| advantages to investing | produce regular cash payments, value increase, tax benefits, can be purchased with leverage |
| disadvantages to investing | lack of liquidity, need to actively manage time, risk |
| stakeholders | owners, investors, lenders, employees, vendors, contractors, residents, prospects, neighbors |
| investor advocate | increase value, meet financial goals, manage employees, follow regulations and laws, maintain ethics |
| resident advocate | environment, communicate, relationships, solicit and respond to feedback, programs and activities |
| moral compass triangle | moral, ethics, law |
| housing types | IROT income amount( section 8, tax credit) type of resident (senior, student, military) type of ownership (condos, co-ops, renter single family), type/ duration of stay (mixed use, extended stay rental) |
| conventional market-rate | MF no rent restrictions or rent subsidies |
| affordable housing | decent, safe earn less than 60% of Area Median Income (AMI) federal, state, or private subsidies |
| affordable housing: project based section 8 | type of affordable housing rents sub by HUD under section 8 New Construction, Substantial Rehab, Loan Management Set- Aside (LMSA) programs assistance is "project- based" HUD subsidizes for assisted units based upon contractually determined perio |
| LMSA | Loan Management Set Aside- project based affordable housing |
| affordable housing: LIHTC low income housing tax credit | dollar for dollar tax credit incentives for private investors 90% of affordable rental housing individual state agencies state regulates properties for compliance |
| workforce housing | local gov, planners, developers, lenders affordable housing close to work |
| senior housing | 55+ conventional market rate and affordable services to remain in their homes longer "age in place" |
| senior housing: independent living | "friendlier" to 55+ compact, easy to navigate some support services residents care for themselves programs and rec centers provided |
| senior housing: assisted living | help with "activities of daily living" staffed 24 hours a day residents stay in same general area as needs change |
| senior housing: full service or continuing care retirement communities | independent, assisted, nursing home in one place |
| purpose built student housing | college students shared living room and kitchen with private bedrooms leased "by the bed" |
| military housing | MHPI military housing privatization initiative "96 private sector financing, expertise and innovation DOD revitalize financial programs direct loans, loan guarantees, equity investments, conveyance or leasing of land BAH basic allowance for housing |
| condominium | units individually owned deed right to sell, mortgage joint ownership of common grounds, hallways, lobbies |
| co-op | association group of apartments and common areas residents own a share in co-op Board of Directors manage co-op restrictions on transfer of shares, limits on income, max. sale price |
| class A | owned by institutional investors lowest CAP rate high unit prices strong cash flow most appreciation potential |
| Class B | owned by high net worth individuals, institutional investors, investment groups good cash flow |
| Class C | owned by private investors, private investment groups good cash flow low appreciation potential |
| Class D | challenging neighborhoods intensive management little appreciation potential |
| location factors | proximity to work, family, schools, stores, health care walkability proximity to public trans |
| housing cost | % of renter's income allocated to rent and utilities assistance programs lack a down payment for house |
| size | less space than SF |
| life circumstances | flexibility easy to move with job change reluctance to be responsible for maintaining a house |
| corporate apartment | fully furnished apartment amenities |
Created by:
MelCrab
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