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.
Project management in real estate investing is the systematic process of planning, executing, monitoring, controlling, and closing out a real estate project to achieve specific goals, maximize profitability, and mitigate risks.
Property condition refers to the overall physical state of a real estate asset, including its structural integrity, mechanical systems, and cosmetic finishes, which significantly impacts its value, investment potential, and future expenses.
A Property Condition Assessment (PCA) is a professional evaluation of a commercial property's physical condition, systems, and components, crucial for due diligence in real estate transactions.
A property inspection is a visual examination of a property's condition by a qualified professional to identify defects, safety hazards, and maintenance needs before purchase.
Property insurance provides financial protection against physical damage to real estate assets and liability for injuries on the property, crucial for safeguarding real estate investments.
Property maintenance involves the ongoing care, repair, and upkeep of real estate assets to preserve their value, functionality, and safety, ensuring long-term profitability and tenant satisfaction for investors.
Property management is the professional oversight and operation of real estate, typically rental properties, on behalf of an owner, handling tasks from tenant acquisition to maintenance and financial reporting.
A Property Management Agreement is a legally binding contract between a property owner and a property manager, detailing the scope of services, responsibilities, fee structures, and terms for managing a real estate asset.
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.
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