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 (18 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.
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.
An operating budget is a detailed financial plan forecasting all expected income and expenses for an investment property over a specific period, typically one year, to monitor financial performance and ensure profitability.
An Operating Company (OpCo) is a legal entity established by real estate investors to conduct the active, day-to-day management, leasing, and maintenance of properties, distinct from entities that merely hold asset ownership.
The Operating Expense Ratio (OER) is a financial metric that measures a property's operational efficiency by comparing its total operating expenses to its gross operating income.
Operating expenses are the ongoing costs of running and maintaining a real estate investment property, excluding mortgage principal and interest payments, and capital expenditures.
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