Various Demographic Pretesting Activities

Rental Housing Finance Survey
Questionnaire

A. Property

B. Owner/Manager identification

938592759275
III II II III II IIIII I I II
This is a finance survey that covers all units in the property associated with the above address. A property
consists of all the units and structures that are managed and owned together as a whole and may consist of
more than one structure, postal address, or parcel of land. A structure is a building in which there are living
quarters, either occupied or vacant. The questions are about the characteristics, both physical and financial, of
the property as well as management related expenses.

C. Are you currently the owner of the property associated with item A above?
Yes
Continue to question 1 on page 2
No

D. Can you provide the name, address, and telephone number of the current owner or manager of the property?
After obtaining below information, interview is concluded.
Yes
Name:

Title:

Organization:
City:

Address:
State:

Zip Code:

Telephone number (including area code):
No, don’t know contact information of owner or manager

1

1. How many residential units (separate living quarters) are in each building on this property?
Number of residential units

Number of floors

Building 1
Building 2
Building 3
Building 4
Building 5
Building 6
Building 7
Building 8
Building 9
Building10

2a. In what year was the oldest building on the property constructed?
YEAR

b. In what year was the most recent building on the property constructed (if applicable)?
YEAR

3a. Is the property associated with the address in item A on page 1Owned or leased by a public housing authority?
A manufactured housing community?
None of the above

If yes, end interview
If yes, end interview

b. Is the property associated with the address in item A on page 1 –
Mark (X) only ONE box.
A housing property, not a condominium, with two or more units intended for rent?
A condominium with AT LEAST 10 units for rent and one common owner?
Primarily student housing, not owned or administered by an educational institution?
An assisted living facility with separate living quarters intended for rent?
Some other type of property?
If yes, end interview

4a. In what year was the property acquired?
YEAR

b. What do you believe is the current market value of this property?
$

c. On what information did you base your estimate of current market value?
Mark (X) ALL that apply.
Local tax assessment of the property
Recent real estate appraisal
Original purchase price plus inflation
Original purchase price plus improvements and inflation
Selling or asking price of similar properties in area
Capitalization of current rental revenues
Other – Specify
2

5. Of the total residential units identified in question 1, how many areO bedroom/
efficiency

1 bedroom

2 bedroom

3 bedroom

4 bedroom

5 bedrooms or
more

Owner-occupied?
Renter-occupied?
Vacant for rent?
Occupied by property personnel?
Vacant intended for property personnel?
Not for rent?

6. How many residential units identified in question 5 as renter-occupied or vacant for rent are offered at each
level of rent?
O bedroom/
efficiency

1 bedroom

2 bedroom

3 bedroom

4 bedroom

5 bedrooms
or more

No rent
Less than $200
$200 - $224
$225 - $249
$250 - $274
$275 - $299
$300 - $349
$350 - $399
$400 - $449
$450 - $499
$500 - $549
$550 - $599
$600 - $649
$650 - $699
$700 - $749
$750 - $799
$800 - $899
$900 - $999
$1000 - $1099
$1100 - $1249
$1250 - $1499
$1500 - $1999
$2000 - $2499
$2500 or more

3
3

3

7. Of the units identified in question 5 as renter-occupied or vacant for rent, what is the value of rent concessions
offered to new or existing tenants?
Mark (X) only ONE box.
No rent concessions
Less than one month’s rent
1 month’s rent
Between 1 and 2 months’ rent
2 months’ rent
Between 2 and 3 months’ rent
3 or more months’ rent

8. Are any residential units identified in question 5 subject to legal age restriction?
Yes
No

9. How many units identified in question 5 are subject to rent control or stabilization (not associated with a subsidy
program)?
Units
OR
None

10. How many parking spaces are provided for residents of this property?
Spaces

11. Are the following items included in the rent?
Yes
A
B
C
D
E
F
G
H
I

No

Not Present

Electricity
Gas or oil
Water
Trash collection
Parking
Fitness center
Laundry
Swimming pool
Concierge

4

12a. Using the last year for which you have complete records, what were the total actual receipts from rent for all
residential housing units on this property?
$

b. For what twelve month period are the receipts above reported?
From

To
MONTH

YEAR

MONTH

YEAR

c. What would total receipts from residential rent have been if the property were fully occupied during this period?
$

$

13. Is there any space specified for commercial uses in this property – i.e., nonresidential units such as a
rental office, doctor’s office or any other business establishments?
Y Yes
No
Skip to question 15a

14a. About what percent of the total floor space in this property is used for commercial (nonresidential) purposes?
Percent

b. Using the last year for which you have complete records, what were the total actual receipts from commercial rent
for all such units in this property?
$

c. For what twelve month period are the receipts above reported?
From
MONTH

To
YEAR

MONTH

YEAR

15a. Who has the responsibility for the day-to-day management of the property?
Mark (X) only ONE box.
Property owner
Management agent directly employed by owner
Management company
Skip to question 16
b. On a monthly basis, how many hours does the owner spend in the management of this property?
Hours

445

16. In calendar year 2010, how much did you spend on each of the following operating expenses (do not include
capital expenses)?
Yearly Cost
A
B
C
D
E
F
G
H

OR None

Payroll costs for employees hired directly by owner $
Real estate property taxes
$
Insurance
$
Utilities paid by the owner
$
Maintenance and repairs
$
Management company
$
Other professional services (legal, accounting)
$
Other operating expenses – Specify
$
$
$

17. During calendar years 2009 or 2010, were any of the following capital improvements or upgrades/replacements made
at this property? If so, what were their associated costs?
Mark (X) ALL that apply.
2009 2010
Yes
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O

Heating or air conditioning system
Roof
Windows
Doors
Flooring/carpeting
Exterior
Plumbing system
Electrical system
Kitchen facilities
Bathroom facilities
Security system
Swimming pool
Playground or play area
Handicapped/universal access
Other capital improvements or upgrades- specify

Cost
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

6

18. How would you best describe the current ownership entity?
Mark (X) only ONE box.
Individual investor, including joint ownership by two or more individuals such as husband and wife
Trustee for estate
Limited liability partnership
Limited liability company
Tenant in common
General partnership
Real Estate Investment Trust (REIT)
Life insurance company
Financial institution other than life insurance company
Pension fund or retirement fund
Real estate corporation
Corporation other than real estate corporation
Housing cooperative organization or stock cooperative
Non-profit (including religious institution, labor union, or fraternal organization)
Other kind of institution – Specify

19a. Is there a mortgage or similar debt on this property?
Yes
No

Skip to question 36a

b. How many mortgages or similar debts are there on this property?
Mortgages or similar debts

20. Is the debt on this property aYes

No

Mortgage, deed of trust, or trust deed?
Contract to purchase, land contract, or purchase agreement?
Line of credit secured by the property or a property equity loan?
Some other loan secured by the property (not personal loans or consumer finance loans)

21. With regards to the debt on this propertyYes

No

Don’t Know

A Was a personal guarantee required?
B Was there cross-collateralization?
C Were there any other properties included in this first mortgage?

7

22a. When did the current FIRST mortgage loan on this property originate?
MONTH

YEAR

b. What was the original principal balance?
$

c. What was the appraised value of the property at time of origination?
$

23. Is the current FIRST mortgage on this property–
The same mortgage that was assumed when the property was acquired?
A new mortgage that was placed when the property was acquired?
A refinancing of a previous loan?
A mortgage placed on a property previously owned free and clear of debt?
A construction loan converted to permanent financing?
Skip to question 25

24. Where did you get the current FIRST mortgage on this property?
Mark (X) ALL that apply.
Commercial bank or trust company
Savings and loan association, Federal savings bank, mutual savings bank
Life insurance company
Mortgage bank or mortgage company
Real Estate Investment Trust (REIT)
Pension fund or retirement fund
Credit union
Finance company (including consumer discount company, industrial bank, cooperative bank)
State or municipal government or housing finance agency
Individual or individual’s estate
Other- Specify
Don’t know

25. Who do you make your current FIRST mortgage payments to?
Mark (X) only ONE box.
Commercial bank or trust company
Savings and loan association, federal savings bank, mutual savings bank
Mortgage bank or mortgage company
Life insurance company
Conventional mortgage pool (not guaranteed by FHLMC, FNMA, or GNMA)
Loan servicing company
Credit union
Finance company (including consumer discount company, industrial bank, cooperative bank)
State or municipal government or housing finance agency
Individual or individual’s estate
Other – Specify
Don’t know

8

26a. What is the term of the loan on the property’s current FIRST mortgage?
Years

b. Is there a large payment due at the end of the loan term (a “balloon payment”), or is the loan paid in full after a
period of time (“fully amortized”)?
Balloon payment
Fully amortized

27. What type of mortgage is the current FIRST mortgage on this property?
Mark (X) only ONE box and answer ONLY corresponding questions.
A. Fixed-rate, level paymentWhat is the current annual interest rate?
B. Adjustable-rate mortgage (ARM)I. What is the current annual interest rate?
II. How frequently can the interest rate change? Once everyMark (X) only ONE box.

.

%

.

%

Month
3 months
6 months
1 year
3 years
5 years
Other - Specify

III. What is the market index?
For Treasury security rate, specify the term of the rate
such as, 3 year rate.
Treasury rate
Years
LIBOR
Prime rate
11th District cost of fund index
National average cost of funds
OTS contract mortgage rates
Adjustment not based on index
Other – Specify
IV. What is the margin over index?
.

%

9

28a. How much are the regularly required mortgage payments on the property’s current FIRST mortgage?
$
OR
No regular payments required
Skip to question 29

b. How often are these payments made?
Biweekly (every 2 weeks)
Monthly
Quarterly
Other – Specify

c. What does this regular payment include?
Mark (X) ALL that apply.
Principal
Interest
Property insurance
Private mortgage insurance
Property taxes
Other – Specify

29. Is the current FIRST mortgage on this property insured or guaranteed by –
The Federal Housing Administration (FHA)?
The Department of Veterans Affairs (VA)?
The Rural Housing Service/Rural Development (formerly FmHA)?
A private mortgage insurance company?
State or municipal government or housing finance agency?
Other- Specify
Don’t know?

10

If the answer to question 19b is MORE than one, proceed to question 30.
Otherwise, skip to question 36a.

Second Mortgage

Third Mortgage

Fourth Mortgage

30. In what year was the mortgage placed/assumed?
31. What was the original amount of the loan?
32. What is the regularly required payment?

$
$

$
$

$
$

33. How often do you make this payment?
Mark (X) only ONE box for each mortgage.
Bi-weekly
Monthly
Quarterly
Other – Check AND specify below

34. What does this regular payment include?
Mark (X) ALL that apply.
Principal
Interest
Other – Check AND specify below

35. Is this loan insured or guaranteed by theMark (X) only ONE box for each mortgage.
Federal Housing Administration (FHA)?
Department of Veterans’ Affairs?
Rural Housing Service/Rural Development
(formerly FmHA)?
None of the above

36a. Does this property have a Section 8 contract?
Yes
No
Don’t know
Skip to question 37a

b. How many Section 8 units are on this property?
Units

37a. Do any tenants hold Section 8 vouchers?
Yes
No
Don’t know
Skip to question 38a

b. How many tenants hold section 8 vouchers?
Tenants

11

38a. Are any units subsidized with project-based Section 8 vouchers?
Yes
No
Don’t know
Skip to question 39
b. How many units are subsidized with project-based Section 8 vouchers?
Units

39. Does this property benefit from any of the following?
Mark (X) ALL that apply.
A government-sponsored, below-market interest rate loan
A federal government rental subsidy OTHER than Section 8 payments to project or tenants – Specify
Housing for the elderly direct loan program (Section 202)
Low income tax credit program (Section 42)
A government grant (HOME, CDBG, HOPE VI)
Federal income tax credit for old or historic properties (Section 38)
Accelerated federal income tax depreciation for low- and moderate-income properties
Subsidy from a private entity
Other - Specify
No, not subsidized
Don’t know

40. For 2010, have any real estate tax abatements or refunds been received on this property for any of the following
reasons?
Yes
A
B
C
D
E
F

No

Don’t Know

For historic preservation
Because the property houses low-income tenants
Because the property is in a low-income area
Because the property is in a targeted economic development area
Because of real estate tax appeal or assessment
For some other reason - Specify

THANK YOU VERY MUCH FOR YOUR COOPERATION
END SURVEY
12

ADMINISTRATIVE USE ONLY
41. Please enter below the name, address, and telephone number of the OWNER of the property.

Name:

Title:

Organization:

Address:

City:

State:

Zip Code:

Telephone number (including area code):

42a. Who answered this questionnaire?
Property owner
Property manager
Other agent of the owner

Skip to question 43a

b. Please enter the name, address, and telephone number of the person who answered this questionnaire.

Name:

Title:

Organization:

Address:

City:

State:

Zip Code:

Telephone number (including area code):

43a. Have all questions on this survey been answered?
Yes
No

End survey

b. Please provide a contact person who can assist with the unanswered questions:

Name:

Title:

Organization:
City:

Address:
State:

Zip Code:

Telephone number (including area code):
13