Tenant relations, maintenance, operational efficiency, rent collection, and property improvements.
Master property management & operations with our progressive approach
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 legal doctrine allowing a tenant to terminate a lease and vacate a property without liability for future rent, due to a landlord's actions or inactions that render the premises uninhabitable or unsuitable for its intended purpose, breaching the covenant of quiet enjoyment.
A contingency fund in real estate is a dedicated reserve of money set aside to cover unforeseen property-related expenses, major repairs, or periods of income loss, safeguarding an investment from unexpected financial shocks.
Contingency planning in real estate involves identifying potential risks and unexpected events, then developing proactive strategies and setting aside resources to mitigate their financial and operational impact on an investment.
Contractor vetting is the systematic process of evaluating potential contractors for real estate investment projects to assess their qualifications, reliability, experience, and financial stability, ensuring project success and mitigating risks.
Corporate housing refers to fully furnished, temporary rental properties, typically leased by companies for employees on business trips, relocations, or extended assignments, offering a cost-effective and comfortable alternative to hotels.
Cost accounting is a managerial accounting process that tracks, analyzes, and reports the costs associated with real estate projects or properties, providing crucial insights for budgeting, pricing, and profitability analysis.
Cost accumulation is the systematic process of identifying, tracking, and categorizing all expenses associated with a real estate investment project to determine its total actual cost.
Cost allocation is the process of identifying, accumulating, and assigning costs to specific cost objects, such as properties, projects, or departments, to accurately measure profitability and inform financial decisions.
Cost control is the strategic process of planning, monitoring, and managing expenses to optimize profitability and achieve financial objectives in real estate investments.
Cost estimation in real estate is the process of forecasting the expenses required to acquire, develop, renovate, or operate a property, crucial for financial planning and investment analysis.
A cost overrun occurs when the actual cost of a real estate project exceeds its initial budget. It represents an unexpected increase in expenses that can significantly impact profitability and project timelines.
Cost overruns are unexpected or additional expenses incurred during a real estate project that exceed the initial budget, significantly impacting profitability and project timelines.
Explore complementary areas that build on property management & operations concepts
Personal budgeting, expense tracking, cash flow management, emergency funds, and savings strategies.
Credit scores, debt consolidation, loan management, credit repair, and debt payoff strategies.
Macroeconomic concepts, interest rates, inflation, Federal Reserve policy, and economic cycles.
Wills, trusts, estate taxes, succession planning, beneficiary planning, and wealth preservation.