Certified Apartment Portfolio Supervisor (CAPS) Practice Exam - Module 1

How is student housing generally structured in terms of lease agreements?

1. By unit-based leases only

2. By bedroom/bedroom agreements with co-signers

3. By annual leases without parental involvement

4. By month-to-month agreements with flexibility

The correct answer is: By bedroom/bedroom agreements with co-signers

Student housing is typically structured using bedroom-to-bedroom agreements with co-signers. This arrangement allows each student to sign a lease for their individual bedroom while sharing common areas with roommates. The inclusion of co-signers, usually parents or guardians, helps secure the lease for students who may have limited credit histories or income, providing landlords with additional assurance. This type of lease structure caters to the unique living situations of students, where the dynamics of sharing a residence can vary significantly from traditional apartment rentals, which usually involve larger unit-based leases with all tenants jointly responsible for the lease. This method also offers more individual accountability for rent payments, reducing the risk for landlords if one tenant fails to pay their share. It reflects the nature of student living arrangements, which commonly involve multiple tenants sharing accommodations, rather than the simpler unit-based leases that might be found in other rental contexts.