AIC CAC study guide
AIC CAC · Work through your exam, one topic at a time.
The AIC Certified Apartment Counselor (CAC) credential is a professional designation for people working in residential property management - leasing consultants, assistant managers, property managers, and resident-relations staff who want a structured, credential-backed command of apartment operations. It signals that a holder can run day-to-day operations, lease and renew units legally, handle resident concerns professionally, read a property budget, and manage maintenance and risk in a way that protects both owners and residents. The AIC CAC study guide has 7 sections and about 2,079 words.
01Property Management Fundamentals and Operations
Property management is the business of operating real property for an owner's objectives, whether that is income, value preservation, or a mix. The management agreement is the governing document: it defines scope of authority, fee structure, reporting cadence, spending limits (often a per-item and aggregate threshold above which owner approval is required), and termination terms.
319 words, about 2 min02Leasing and Occupancy Management
Leasing converts vacant space into revenue. Understand the sequence: market the unit, qualify the applicant, screen consistently, execute a compliant lease, move the resident in, renew or turn the unit at exit.
314 words, about 2 min03Fair Housing and Legal Compliance
Fair housing law prohibits discrimination in the sale, rental, and financing of housing based on protected classes. At the federal level in the U.S., these include race, color, religion, sex, national origin, familial status, and disability; many state and local laws add classes such as source of income, age, marital status, and sexual orientation.
322 words, about 2 min04Resident Relations and Customer Service
Resident satisfaction drives renewals, and renewals are cheaper than turns. Good resident relations rest on responsiveness, consistency, and clear communication.
274 words, about 1 min05Financial Management and Budgeting
Operating statements follow a simple architecture: rental and other income, less vacancy and concessions, equals effective gross income; less operating expenses equals net operating income (NOI) . NOI excludes debt service, capital expenditures, depreciation, and income taxes.
304 words, about 2 min06Maintenance and Risk Management
Distinguish routine (planned, scheduled), preventive (designed to avoid failure), corrective (repair after failure), and emergency (immediate, safety-critical) maintenance. A work-order system should capture the request, priority, assignment, cost, and completion.
259 words, about 1 min07Professional Ethics and Communication
Managers act as agents of the owner and stewards of resident relationships. Core duties: loyalty (act in the owner's interest, disclose conflicts), care (competence and diligence), obedience (follow lawful instructions within authority), accounting (accurate handling of funds), and disclosure (report material facts).
287 words, about 1 min