Certified Apartment Portfolio Supervisor (CAPS) 2025 – 400 Free Practice Questions to Pass Module 2 Exam

Question: 1 / 400

Why is it essential to maintain a high resident retention rate?

It attracts more investors to the property

It enhances the aesthetic appeal of the community

It reduces turnover costs and improves overall community stability

Maintaining a high resident retention rate is crucial primarily because it reduces turnover costs and enhances overall community stability. When residents stay longer, the need for frequent turnover is minimized, which can lead to considerable savings in various aspects such as advertising for new tenants, costs associated with cleaning and repairs between residents, and the time spent on showing units to prospective renters.

Additionally, when residents feel a sense of stability and community, they are more likely to engage positively within the property, contributing to a more harmonious living environment. This community cohesiveness can lead to better resident satisfaction, further encouraging existing residents to renew their leases rather than move out, ultimately supporting sustained occupancy levels and reliable revenue streams for property management.

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It allows for increased rent prices

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