Tenant relations, maintenance, operational efficiency, rent collection, and property improvements.
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Foundation terms you need to know first (85 terms)
Base rent is the fixed, minimum rent amount paid by a tenant to a landlord for the use of a property, excluding additional charges like operating expenses, taxes, or utilities.
Activity ratios are financial metrics that measure how efficiently a company or investment property uses its assets to generate revenue. In real estate, they help investors assess operational efficiency and how quickly assets are converted into sales or cash.
Loss of income in real estate refers to a situation where an investor's expected rental revenue from a property is reduced or eliminated, often due to vacancies, tenant issues, or property damage.
Professional real estate photography involves hiring skilled photographers to capture high-quality images of a property, showcasing its best features to attract potential buyers or tenants and maximize its market appeal.
The Lease Commencement Date is the official date specified in a lease agreement when the tenant's rights and obligations, including rent payments and property responsibilities, legally begin.
Complex strategies and professional concepts (19 terms)
The Accounts Payable Turnover Ratio measures how quickly a company pays off its suppliers and short-term debts, indicating the efficiency of its working capital management and liquidity.
Income Statement Presentation for real estate investments involves the structured reporting of a property's revenues, operating expenses, and non-operating items over a specific period, providing a clear view of its financial performance and profitability.
Scaling a real estate portfolio involves the systematic and strategic expansion of property holdings, focusing on optimized operations, advanced financing, and strategic acquisitions to achieve exponential, sustainable growth and maximize long-term wealth.
A Digital Twin is a virtual, real-time replica of a physical real estate asset, continuously updated with data from sensors and other sources to enable advanced monitoring, analysis, and predictive modeling for optimized management and investment decisions.
Revenue Management in coworking spaces is a sophisticated strategy that applies dynamic pricing, demand forecasting, and inventory optimization techniques to maximize profitability and asset utilization within flexible workspace environments.
Gross Potential Rent (GPR) is the maximum total income a rental property could generate if all units were occupied and all rent was collected at market rates, before accounting for vacancies or expenses.
Gross profit represents the revenue remaining after deducting the direct costs associated with producing or acquiring the goods sold or services rendered, before accounting for operating expenses, interest, and taxes. It is a key indicator of a property's or business's operational efficiency.
Guest communication involves all interactions between a property owner or manager and guests in a short-term rental, crucial for guest satisfaction and property profitability.
Guest experience refers to the overall impression and satisfaction a guest has during their stay at a rental property, influencing reviews, bookings, and profitability for investors.
Guest Review Management is the systematic process of monitoring, responding to, and leveraging feedback from guests or tenants across online platforms to enhance property reputation, improve satisfaction, and drive higher occupancy and rental income for real estate investors.
An HVAC system is a mechanical system responsible for heating, ventilating, and air conditioning a building, crucial for maintaining indoor comfort and air quality in real estate.
Habitability refers to the legal standard that a rental property must be safe, sanitary, and fit for human living, ensuring basic living conditions for tenants. It is enforced through the Implied Warranty of Habitability, obligating landlords to maintain essential services and structural integrity.
Habitability standards are legal requirements that mandate landlords provide and maintain rental properties in a safe, healthy, and livable condition, ensuring essential services and structural integrity for tenants.
Holding costs are the recurring expenses associated with owning a real estate property, such as property taxes, insurance, utilities, and mortgage interest, incurred from acquisition until sale or consistent income generation.
A holdover tenant is a lessee who remains in possession of a rental property after their lease agreement has expired, without the landlord's explicit consent. This situation creates a tenancy at sufferance, with specific legal implications for both parties.
A home inspector is a professional who evaluates a property's condition to identify defects in its structure and systems, providing crucial information for buyers, especially real estate investors, to make informed purchasing decisions and mitigate risks.
Homeowner's insurance is a comprehensive property insurance policy that protects a homeowner's dwelling, personal belongings, and liability against various perils like fire, theft, and natural disasters.
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