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.
A mid-term rental is a property leased for a period typically ranging from one to six months, bridging the gap between short-term (vacation) and long-term (annual) rentals. It caters to specific tenant needs like traveling professionals, students, or those relocating.
Mold remediation is the specialized process of safely identifying, containing, and removing mold growth from a property, followed by cleaning and disinfection to prevent its return and protect property value and occupant health.
Negligence in real estate refers to a failure to exercise the reasonable care that a prudent person would have exercised in a similar situation, leading to harm or damage to another party. It is a critical concept in liability and risk management for real estate professionals and investors.
A Net 30 account is a trade credit agreement allowing a business to purchase goods or services and pay the invoice within 30 days, offering short-term, interest-free financing and an opportunity to build business credit.
Net Operating Income Margin is a profitability ratio that expresses Net Operating Income (NOI) as a percentage of Effective Gross Income (EGI), indicating how efficiently a property generates profit from its operations before debt service and taxes.
Normal wear and tear refers to the expected deterioration of a rental property over time due to ordinary use and aging, for which landlords are responsible for repairs.
A notice period in real estate is the legally mandated or contractually agreed-upon timeframe one party must give to another before taking a specific action, such as terminating a lease or increasing rent.
A formal legal document issued by a landlord to a tenant demanding payment of overdue rent within a specified period or vacating the property, serving as the first step in the eviction process for non-payment.
A formal written statement from a landlord to a tenant, or vice versa, indicating the intention to terminate a lease agreement and vacate the property by a specific date, adhering to legal requirements.
The occupancy rate is a key real estate metric representing the percentage of a property's available units or space that is currently leased or occupied by tenants, indicating demand and income stability.
An Online Travel Agency (OTA) is a digital marketplace that allows real estate investors to list and manage short-term rental properties, connecting them with travelers for temporary accommodations.
A legal document outlining the ownership, management, and operational procedures of a Limited Liability Company (LLC), crucial for defining member rights and protecting personal assets in real estate investments.
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