Leasing Trivia Quiz

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Leasing Trivia Quiz - Quiz

Are you ready to take this leasing trivia quiz that we have designed here for you? A lease, in simple words, can be understood as a contractual arrangement terming the user to pay the owner for the use of an asset. The Leasing Quiz here contains questions that will test your knowledge on some of the more common rental questions, and with this quiz, you will also be able to expand your knowledge.


Questions and Answers
  • 1. 

    When a prospect expresses concern over your rental rates, you should:

    • A. 

      Demonstrate the value of your community and services

    • B. 

      Give him or her a discount or special

    • C. 

      Refer your prospect to another less expensive community in the neighborhood

    • D. 

      Call in your supervisor

    Correct Answer
    A. Demonstrate the value of your community and services
    Explanation
    When a prospect expresses concern over your rental rates, it is important to demonstrate the value of your community and services. By highlighting the unique features, amenities, and benefits that your community offers, you can help the prospect understand why your rates are justified. This approach allows you to showcase the quality and value they will receive by choosing your community, rather than simply offering a discount or referring them elsewhere. Calling in your supervisor may not be necessary unless there is a specific issue that requires their involvement.

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  • 2. 

    Price checking refers to:

    • A. 

      A prospect who calls on the phone and asks about your rental rates

    • B. 

      A supervisor pretends to be a prospect to check your knowledge of current rental rates

    • C. 

      Visiting the competition to discover what their rental rates are

    • D. 

      Matching your marketing materials against the rental rates listed on your computer

    Correct Answer
    A. A prospect who calls on the phone and asks about your rental rates
    Explanation
    Price checking refers to a prospect who calls on the phone and asks about your rental rates. This means that someone who is interested in renting from you contacts you directly to inquire about the prices you offer. It is a common practice for potential customers to call and gather information about rental rates before making a decision. By answering their questions accurately and providing them with the necessary information, you can potentially convert them into paying customers.

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  • 3. 

    It is a good technique to let the prospect fill out the guest card because it puts him or her at ease.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    Letting the prospect fill out the guest card does not necessarily put them at ease. It may actually make them feel uncomfortable or pressured to provide personal information. Therefore, the statement is not true and the correct answer is false.

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  • 4. 

    Rental applications should be processed:

    • A. 

      According to move-in date

    • B. 

      Not until the apartment is ready for move-in

    • C. 

      On Saturday's

    • D. 

      In accordance with your company policy your applicant notified ASAP

    Correct Answer
    D. In accordance with your company policy your applicant notified ASAP
    Explanation
    The correct answer is "In accordance with your company policy your applicant notified ASAP". This means that rental applications should be processed as per the policy of the company, and the applicant should be notified as soon as possible. The processing should not be delayed and should be done promptly, following the guidelines set by the company.

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  • 5. 

    Making the prospect as comfortable as possible is key to your leasing success. A good way to do that is:

    • A. 

      Seat him or her at a seating area rather than at your desk

    • B. 

      Offer refreshments

    • C. 

      Introduce him or her to other staff members or residents

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    The correct answer is "All of the above". Making the prospect comfortable is important for leasing success. Seating them at a seating area rather than at your desk creates a more relaxed atmosphere. Offering refreshments adds a hospitable touch. Introducing them to staff members or residents helps them feel welcomed and connected to the community. All of these actions contribute to creating a positive leasing experience.

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  • 6. 

    If you are unable to convince a prospect to leave a deposit today, try the following:

    • A. 

      Enlist the assistance of another leasing staff member

    • B. 

      Suggest that the apartment he or she is interested in is very popular and may not be available upon his or her return.

    • C. 

      Ask the prospect what he or she is looking for that your community does not provide

    • D. 

      All of the above

    Correct Answer
    B. Suggest that the apartment he or she is interested in is very popular and may not be available upon his or her return.
    Explanation
    The correct answer suggests that if a prospect is hesitant to leave a deposit, one strategy is to create a sense of urgency by informing them that the apartment they are interested in is very popular and may not be available when they return. This tactic plays on the fear of missing out and can motivate the prospect to take action immediately to secure the apartment. By emphasizing its popularity and potential scarcity, the leasing staff can encourage the prospect to make a decision and leave a deposit.

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  • 7. 

    It is a recommended practice to hand out a summary of application qualifying guidelines, such as income and credit requirements, to each and every prospect.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    It is recommended to hand out a summary of application qualifying guidelines to each prospect to ensure that they are aware of the income and credit requirements. This helps in setting clear expectations and avoids wasting time for both the prospect and the organization. Additionally, providing this information upfront can help filter out prospects who do not meet the criteria, saving further resources in the application process.

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  • 8. 

    Never give out your rental rates over the telephone.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    It is not necessary to never give out rental rates over the telephone. While it may be a common practice to not disclose rates over the phone in certain industries, such as real estate or car rentals, there may be situations where providing rental rates over the phone is appropriate and necessary. Factors such as the nature of the business, customer preferences, and the level of trust established with the caller can influence whether or not rental rates should be shared over the telephone. Therefore, the statement is not universally true, making the answer false.

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  • 9. 

    It is a good leasing technique for two staff members to tour a prospect together when:

    • A. 

      One feels uncomfortable touring alone.

    • B. 

      One is learning from the other.

    • C. 

      One wishes to observe the others' leasing technique.

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    Touring a prospect together is a good leasing technique when one staff member feels uncomfortable touring alone, when one staff member is learning from the other, and when one staff member wishes to observe the other's leasing technique. By touring together, the staff members can provide support and reassurance to each other, share knowledge and skills, and learn from each other's experiences and techniques. This approach can enhance the leasing process and improve the overall effectiveness of the staff members in securing leases.

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  • 10. 

    Do not waste your time showing models to prospects who do not seem serious about renting or who do not need an apartment in the immediate future. Doing so may cause you to be unavailable when a "true" prospect needs your assistance.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement suggests that it is not advisable to spend time showing models to prospects who do not appear serious about renting or who do not need an apartment in the near future. This is because it may result in being unavailable when a genuine prospect requires assistance. Therefore, the correct answer is False, indicating that it is not recommended to waste time on non-serious or unnecessary prospects.

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  • 11. 

    If it seems that a certain amenity would not appeal to your prospect, such as the fitness room for an elderly prospect, simply skip that part of your tour.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement suggests that if a certain amenity, like a fitness room, would not be appealing to an elderly prospect, it should be skipped during the tour. However, the correct answer is False because skipping a part of the tour based on assumptions about the prospect's preferences may lead to missed opportunities. It is important to provide a complete tour and allow the prospect to decide which amenities are relevant to them.

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  • 12. 

    It is important to let your prospect know about each and every apartment home that is available for rent in accordance with Fair Housing laws.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    It is not necessary to let your prospect know about each and every apartment home that is available for rent in accordance with Fair Housing laws. While it is important to provide equal and fair housing opportunities to all individuals, it is not required to disclose every available apartment home. Fair Housing laws prohibit discrimination based on certain protected characteristics, but they do not mandate disclosing every available option to prospects.

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  • 13. 

    When a prospect enters the leasing center, you should:

    • A. 

      Stop what you are doing and stand up.

    • B. 

      Greet the prospect with a smile.

    • C. 

      Offer your name and a handshake.

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    When a prospect enters the leasing center, it is important to make a good first impression. Stopping what you are doing and standing up shows that you are attentive and ready to assist the prospect. Greeting the prospect with a smile creates a welcoming atmosphere and helps to establish a positive rapport. Offering your name and a handshake is a professional way to introduce yourself and make a personal connection. Therefore, all of the above actions are recommended when a prospect enters the leasing center.

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  • 14. 

    The most important goal of each prospect telephone call is:

    • A. 

      To paint a picture of your community

    • B. 

      To make an appointment with the prospect

    • C. 

      To describe your floor plans in detail

    • D. 

      To get the prospect's name and telephone number

    Correct Answer
    B. To make an appointment with the prospect
    Explanation
    The most important goal of each prospect telephone call is to make an appointment with the prospect. This is because making an appointment allows for a more personal and direct interaction with the prospect, where further details about the community and floor plans can be discussed. Additionally, making an appointment shows the prospect's interest and commitment, making it easier to provide them with the necessary information and potentially convert them into a customer.

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  • 15. 

    A positive leasing, application, and move-in experience goes a long way in ensuring that a new resident will be satisfied with your community and renew his or her lease when the time comes.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    A positive leasing, application, and move-in experience is crucial in determining whether a new resident will be satisfied with the community and choose to renew their lease. This means that if a resident has a smooth and positive experience during the leasing process, it increases the likelihood of them being happy with their decision to live in the community. Consequently, they are more likely to stay and renew their lease when the time comes.

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  • 16. 

    Three key elements of a telephone greeting include all of the following except:

    • A. 

      Your name

    • B. 

      Property Name

    • C. 

      Price Range

    • D. 

      A pleasantry

    Correct Answer
    C. Price Range
    Explanation
    The correct answer is "Price Range" because when answering a telephone call, it is not necessary to mention the price range of a property. The other three elements - your name, property name, and a pleasantry - are important components of a telephone greeting as they help establish a friendly and professional interaction with the caller.

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  • 17. 

    Which of the following is not a suggested follow-up technique:

    • A. 

      Phone call within 24 hours of a visit

    • B. 

      A written note or card within 24 hours of a visit

    • C. 

      A singing telegram sent to the prospects workplace

    • D. 

      A short email thanking the prospect for visiting

    Correct Answer
    C. A singing telegram sent to the prospects workplace
    Explanation
    A singing telegram sent to the prospect's workplace is not a suggested follow-up technique because it is not a professional or appropriate way to reach out to a prospect. While a phone call, a written note or card, and a short email are all common and acceptable methods of follow-up, a singing telegram would likely be seen as unprofessional and may not be well-received by the prospect.

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  • 18. 

    It is better not to ask for a deposit from a prospect on his or her first visit, or you risk coming off as too pushy.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    Asking for a deposit from a prospect on their first visit does not necessarily make you come off as too pushy. It can actually be a common practice in certain industries or for certain services. The decision to ask for a deposit on the first visit depends on various factors such as the type of business, the nature of the product or service, and the relationship with the prospect. Therefore, the statement that it is better not to ask for a deposit on the first visit is not universally true.

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  • 19. 

    It is your responsibility to ask for a deposit from each and every prospect.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    As a responsible professional, it is important to ask for a deposit from each and every prospect. This not only ensures commitment from the prospect but also protects your time and resources. Asking for a deposit shows that the prospect is serious about the transaction and reduces the likelihood of last-minute cancellations or no-shows. It also helps to cover any potential costs or expenses incurred during the process. Therefore, it is essential to ask for a deposit from every prospect to establish a mutually beneficial and secure business relationship.

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  • 20. 

    When you have no model available to show, the next best alternative is:

    • A. 

      Show an occupied apartment with the resident's permission

    • B. 

      Show your own apartment

    • C. 

      Show a vacant apartment that is ready for move-in

    • D. 

      Show an apartment that was vacated earlier today

    Correct Answer
    C. Show a vacant apartment that is ready for move-in
    Explanation
    The best alternative when you have no model available to show is to show a vacant apartment that is ready for move-in. This option allows potential customers to see the layout and features of the apartment without any personal belongings or mess from previous residents. It gives them a clear idea of what the apartment will look like when they move in and helps them visualize themselves living there.

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