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 Property Management Company is a third-party entity hired by real estate investors to oversee the daily operations of their rental properties, handling everything from tenant screening and rent collection to maintenance and legal compliance.
A property management fee is the cost paid to a professional property manager for overseeing and handling the daily operations of a rental property, directly impacting an investor's cash flow and profitability.
Property management fees are charges paid to a professional company for managing the daily operations of a rental property, covering services like tenant screening, rent collection, and maintenance, directly impacting an investor's profitability.
Property Management Software (PMS) is a digital platform designed to streamline and automate the daily operations of managing rental properties, from tenant screening and rent collection to maintenance and financial reporting.
A property manager is an individual or company hired by a real estate investor to handle the daily operations, maintenance, and tenant relations for a rental property, aiming to preserve asset value and maximize rental income.
A Property Operating Account is a dedicated bank account used exclusively for managing all income and expenses associated with an investment property. It ensures financial separation, simplifies record-keeping, and provides a clear overview of the property's financial performance.
Property readiness refers to the process of preparing a real estate investment property to be suitable for its intended use, such as renting out to tenants or selling to a new owner, ensuring it meets all necessary standards for safety, functionality, and appeal.
Protected classes are groups legally shielded from discrimination in housing under federal, state, and local laws, primarily the Fair Housing Act, ensuring equal access to housing opportunities.
A punch list is a document compiled at the end of a construction or renovation project, detailing work that needs to be completed or corrected before final acceptance and payment. It ensures all contractual obligations and quality standards are met.
A qualified tenant is an applicant who meets a landlord's specific criteria for renting a property, demonstrating financial stability, a positive rental history, and a clean background.
Radon testing identifies the presence and concentration of radioactive radon gas in a property, a crucial step in real estate due diligence to protect health and property value.
Real estate asset management is the strategic oversight and optimization of real estate investments to maximize their value and achieve specific financial objectives for property owners or investors.
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