Property Management Glossary
a
- Accredited Residential Manager - Accredited Residential Manager (ARM) is a professional desig... More
- Affordable Housing - Affordable housing refers to residential units that are pric... More
- Amortization - Amortization refers to the gradual repayment of a debt, usua... More
- Annual Depreciation - Annual Depreciation refers to the gradual decrease in the va... More
- Appraised Value - Appraised Value refers to the estimated monetary worth of a ... More
- Average Arrears - Average Arrears refers to the typical amount of unpaid rent ... More
- Average Days-to-Lease - Average Days-to-Lease gauges the efficiency of a rental prop... More
- Average Maintenance Cost per Property - Average Maintenance Cost per Property refers to the typical ... More
b
- Building Class - A Building Class is a categorization system used in real est... More
- Building Safety Manager - A Building Safety Manager is responsible for upholding safet... More
c
- Cap Rate - Capitalization Rate, also known as Cap Rate, is a fundamenta... More
- Capital Improvement - Capital improvements refer to significant investments made i... More
- Cash-on-Cash Return - Cash-on-Cash Return (CoC) is a financial metric used in real... More
- Certificate of Occupancy - A Certificate of Occupancy (CO) is an official document issu... More
- Common Area Maintenance - Common Area Maintenance (CAM) refers to the costs associated... More
- Condo vs. Apartment - Condos and apartments are both types of residential housing,... More
- Condo vs. Townhouse - Condos and townhouses are forms of residential housing, howe... More
- Conversion Rate - Conversion Rate refers to the percentage of prospective tena... More
e
- Expense Management - Expense Management involves the organized control and oversi... More
- Expense Ratio - Expense Ratio refers to a financial metric that assesses the... More
f
- Fair Market Value (FMV) - Fair Market Value (FMV) refers to the objective and unbiased... More
- Fixed Expense - A Fixed Expense refers to a recurring cost that remains cons... More
- Floor Area Ratio - Floor Area Ratio (FAR), also known as Floor Space Index (FSI... More
- Full Repairing and Insuring Lease - A Full Repairing and Insuring (FRI) Lease is a type of comme... More
g
- Gross Lease - A gross lease is a type of lease agreement commonly used in ... More
- Gross Rent - Gross Rent refers to the total rental income generated from ... More
i
- Investment Property - An investment property is real estate purchased with the pri... More
l
- Lease Agreement - A lease agreement is a legally binding contract between a la... More
- Lease Option - A lease option, also known as a rent-to-own agreement, is a ... More
m
- Market Rate - Market rate refers to the prevailing rental price for a spec... More
- Market Rent - Market rent refers to the prevailing rental rate that a prop... More
- Modified Gross Lease - A Modified Gross Lease is a type of lease agreement that com... More
- Mortgage - A mortgage is a legal agreement where a lender provides fina... More
- Multifamily Home - A multifamily home, also commonly referred to as a multifami... More
n
- Net Operating Income - Net Operating Income (NOI) is commonly used to assess the pr... More
- Net Potential Rent (NPR) - Net Potential Rent (NPR) represents the maximum possible ren... More
- Net Promoter Score (NPS) - The Net Promoter Score (NPS) is a valuable tool for assessin... More
o
- Occupancy Rates - Occupancy rate refers to the ratio of rented or leased units... More
- Operating Budget - An operating budget is a financial plan that outlines the an... More
p
- Percentage Rent - Percentage rent is a commercial lease arrangement where, in ... More
- Property Appreciation - Property appreciation refers to the increase in the value of... More
- Property Assessment - A property assessment is an evaluation conducted by local go... More
- Property Inspection - A property inspection is a thorough assessment of a real est... More
- Property Insurance - Property insurance is a financial protection that covers the... More
- Property Maintenance - Property maintenance refers to the ongoing care and upkeep o... More
- Property Management Agreement - A property management agreement is a legally binding contrac... More
- Property Management System - Property Management System is a digital tool designed to str... More
- Property Manager - A property manager is an individual or company responsible f... More
- Property Portfolio - A property portfolio refers to a collection of real estate a... More
r
- Rent Control - Rent control refers to government-imposed regulations on the... More
- Rent Guarantee Insurance - Rent guarantee insurance, also known as rent default insuran... More
- Rent Roll - A rent roll is a document used in real estate management tha... More
- Rent-Ready Costs - Rent-ready costs refer to the expenses incurred to prepare a... More
- Rental Insurance - Rental insurance, often referred to as renters insurance, is... More
- Rental Market Analysis - Rental market analysis is a comprehensive assessment of the ... More
- Rental Property - Put simply, a rental property is a real estate asset that is... More
- Rental Rate - Rental rate refers to the amount of money a landlord or prop... More
- Revenue Growth - Revenue growth refers to the increase in income generated fr... More
s
- Single-Family House - A Single-Family House (SFH) is a standalone residential stru... More
- Student Housing - Student housing refers to residential accommodations specifi... More
- Sublease - A sublease refers to a legal arrangement where a tenant, who... More
- Subletting - Subletting is a rental arrangement in which a tenant, who is... More
t
- Tenant Improvement - Tenant improvement refers to the customization or renovation... More
- Tenant Retention - Tenant retention is a property management strategy aimed at ... More
- Tenant Satisfaction - Tenant satisfaction is a critical metric indicating how well... More
- Tenant Screening - Tenant screening is a thorough evaluation process that landl... More
- Triple Net Lease - A Triple Net Lease (NNN lease) is a commercial real estate l... More
- Turnkey Property - A turnkey property refers to a rental property that is ready... More
- Turnover Rate - Turnover rate refers to the frequency at which rental units ... More
v
- Vacancy Loss - Vacancy loss refers to the financial impact of unoccupied re... More
- Vacancy Rate - Vacancy rate represents the percentage of unoccupied or vaca... More