IREM ACoM study plan

Build a one-page map of the asset management lifecycle (acquisition, operation, maintenance, capital planning, disposition) and label where financial decisions enter at each stage

Compute and interpret net operating income, cap rate, and cash-on-cash return for a single hypothetical property using a self-built spreadsheet

Distinguish operating expenses from capital expenditures and classify 15 sample line items correctly

Draft a glossary of 25 asset and finance terms in your own words, flagging any you cannot define without notes

Explain how a property's position in its market cycle changes maintenance, leasing, and capital priorities

Apply a simple hold-versus-sell screen using return thresholds and remaining capital needs

Practice reading a capital needs assessment: rank five deferred-maintenance items by urgency and cost exposure

Write a 200-word asset-level recommendation for one property scenario, stating the decision and its financial rationale

Build a 10-year cash flow projection with rent growth, vacancy, expense growth, and a resale assumption

Calculate discounted cash flow value and internal rate of return, then test sensitivity to a two-point change in vacancy and exit cap rate

Compare three financing structures (fixed-rate loan, floating-rate loan, equity-heavy) on debt service coverage and leverage risk

Identify which single assumption most changes your valuation and defend that ranking in writing

Read a lease abstract and extract the clauses that drive revenue: rent escalations, expense recovery method, percentage rent, and options

Compute a tenant's annual occupancy cost including base rent, recoveries, and parking, and compare it to market

Calculate a lease's net effective rent including free rent and tenant improvement allowances

Reconcile a sample operating expense recovery so the landlord and tenant shares both balance

Draft a one-page lease comparison memo recommending which of two tenant proposals is stronger financially

Outline a leasing process from prospect tour through executed lease, naming the decision point at each step

Write three discovery questions that surface a tenant's real space and term needs before quoting terms

Negotiate a short role-play on a rent concession, documenting your opening position, fallback, and walk-away point

Build a tenant retention screen that flags leases expiring within 18 months and ranks them by renewal risk

Draft a lease proposal letter that states economics clearly and avoids ambiguous language

Work through a conflict-of-interest scenario: identify the competing interests, the disclosure duty, and the recommended action

Apply a fiduciary duty framework (loyalty, care, disclosure, confidentiality) to three short workplace vignettes

Distinguish a gift, a bribe, and a permissible business courtesy using a written test you can apply consistently

Practice responding to an owner request that conflicts with a tenant obligation, and write the response you would send

Identify which records must be retained and for how long under a typical management agreement, and note where you would verify specifics

Map the core employment law topics a property manager touches: hiring, classification, wage and hour, leave, and termination, noting where you must consult counsel

Write behavior-based interview questions for a leasing consultant and a maintenance technician, each tied to a job competency

Draft a 30-60-90 day onboarding plan for a new property staff member

Practice a documented performance conversation using a specific, observable behavior rather than personality language

Build a staffing coverage plan for a 100-unit property that handles absence and after-hours emergencies

Take two timed 50-question practice sets across all five domains and log every miss by domain and error type

Re-study only your three weakest subtopics, rewriting each as a one-page summary in your own words

Recompute one DCF and one lease recovery from scratch without notes to confirm retention

Write a two-minute verbal summary of a property's performance as you would present it to an owner

Assemble a one-page formula sheet covering NOI, cap rate, DSCR, net effective rent, and IRR