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 Statute of Limitations is a law that sets the maximum time after an event within which legal proceedings may be initiated, effectively limiting the period during which a party can sue another party.
Structural integrity refers to a building's capacity to withstand loads and forces without failure, ensuring its safety, stability, and long-term durability. It is a critical factor in real estate investment, directly impacting property value and potential liabilities.
A subcontractor is an individual or company hired by a general contractor (or property owner) to perform a specific, specialized task or part of a larger real estate construction or renovation project.
Subleasing occurs when a tenant leases out all or part of their rented property to another tenant, known as a subtenant, while still remaining responsible to the original landlord under the primary lease agreement.
A surety bond is a three-party agreement guaranteeing that a principal will fulfill contractual obligations to an obligee, with the surety company backing the principal's performance. In real estate, they protect against financial loss due to contractor default or non-compliance.
Sweat equity refers to the increase in property value or ownership stake that results from the labor and effort of the owner or investor, rather than from direct financial investment. It's commonly seen in fix-and-flip projects or owner-occupied renovations.
Task Batching is a productivity technique where similar tasks are grouped together and completed consecutively to minimize context switching and improve efficiency, especially useful for real estate investors managing diverse responsibilities.
Task prioritization is the process of organizing and ranking your real estate investing activities based on their urgency and importance to maximize efficiency and achieve your financial goals.
A tenant is an individual or entity who occupies real property owned by another, typically a landlord, under a lease agreement in exchange for rent payments.
A tenant credit check is a vital part of the tenant screening process, providing landlords with a detailed report of a prospective renter's financial history to assess their reliability and ability to pay rent.
Tenant default occurs when a tenant fails to uphold the terms of their lease agreement, such as non-payment of rent, property damage, or other lease violations, requiring landlords to follow specific legal procedures to resolve the breach.
Tenant Experience refers to the sum of all interactions a resident has with their landlord, property, and management team, significantly impacting satisfaction, retention, and property value.
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