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 self-help eviction occurs when a landlord attempts to remove a tenant from a rental property without following the legally mandated eviction process, often by changing locks or shutting off utilities, which is illegal in most jurisdictions.
A service agreement is a legally binding contract between two or more parties, typically a service provider and a client, outlining the terms and conditions of services to be performed in a real estate transaction or property management.
A flexible office arrangement where multiple workers use a single physical workstation at different times, rather than each having a dedicated desk. This model optimizes space utilization and reduces overhead costs for businesses.
A short-term lease is a rental agreement typically lasting less than six months, commonly used for vacation rentals, corporate housing, or temporary stays, offering flexibility but often requiring more intensive management.
A property rented out for short periods, typically less than 30 days, to guests for temporary stays, often managed through platforms like Airbnb or Vrbo.
Short-Term Rental Arbitrage is an investment strategy where an individual leases a property long-term and then subleases it on a short-term basis, typically through platforms like Airbnb, to profit from the difference in rental rates.
Short-Term Rental (STR) insurance is a specialized policy designed to protect property owners who rent out their residential properties for short durations, typically less than 30 days, covering unique risks like property damage, liability, and loss of income associated with commercial use.
A Short-Term Rental (STR) Property Manager is a professional or company that handles all operational aspects of managing properties rented for short periods, such as vacation homes or Airbnb units, aiming to maximize owner income and ensure positive guest experiences.
A Smart Building is a property that uses integrated technology, such as IoT devices and Building Management Systems (BMS), to automate and optimize operations, improve efficiency, and enhance the experience for occupants and owners.
A smart lock is an electronic and mechanical locking device that allows users to control access to a property remotely using a smartphone, keypad, or biometric data, enhancing security and convenience for real estate investors.
Space-as-a-Service (SaaS) is a real estate operational model that offers flexible, amenity-rich physical spaces on demand, integrating technology and hospitality to provide a seamless user experience beyond traditional long-term leases.
Stabilized occupancy refers to a property's optimal and sustainable occupancy rate, achieved after the initial lease-up period, reflecting its long-term operational performance and market demand.
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