Property Management Glossary: Balloon Payment What is a Balloon Payment? Property Management professionals encounter a wide range of financial terms, and Balloon Payment is one that requires a clear understanding. A Balloon Payment is a large, final payment due at the end of a loan term, typically for a Property....
Property Management Glossary: ADA Compliance What is ADA Compliance? The Americans with Disabilities Act (ADA) is a landmark civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including housing. As a property manager, it’s crucial to understand and comply with ADA regulations to...
Property Management Glossary: Arrears Introduction Welcome to our comprehensive property management glossary, where we delve into the intricacies of the industry. This glossary serves as an invaluable resource for real estate professionals, tenants, and homeowners alike, providing clear and concise definitions of key terms and concepts. In this first installment,...
Property Management Glossary: Accrual Accounting What is Accrual Accounting? Accrual accounting is a method of accounting that recognizes revenue and expenses when they are incurred, regardless of when cash is received or paid. This is in contrast to cash accounting, which only recognizes revenue and expenses when cash is received...
Property Management Glossary: Appraisal What is an Appraisal? An appraisal is a professional assessment of the value of a property. It is typically carried out by a licensed or certified appraiser. The purpose of an appraisal is to provide an unbiased estimate of the property’s current market value. Property appraisals...
Property Management Glossary: Amenity What is an Amenity in Property Management? In the realm of property management, an amenity refers to any feature or service that enhances the livability, convenience, or enjoyment of a property for its occupants. From luxurious perks to practical conveniences, amenities play a crucial role in...
Property Management Glossary: Asset Management Introduction Welcome to this comprehensive Property Management Glossary focusing on Asset Management. We’ll provide clear definitions of essential terms, enabling you to navigate the world of property management with confidence. Section 1: Asset Management Basics 1.1. Asset An asset, in the context of property management,...
Property Management Glossary: Absorption Rate Definition The absorption rate in property management is a key metric that measures the speed at which vacant rental units are leased out. It indicates the success of a property manager in attracting tenants and maximizing occupancy. Formula and Calculation The absorption rate is calculated...
Property Management Glossary: Annual Percentage Rate (APR) Introduction In the realm of property management, understanding financial jargon is paramount. One crucial term that property managers and tenants alike should be familiar with is the Annual Percentage Rate (APR). This comprehensive glossary will delve into the intricacies of APR, providing a...
Property Management Glossary: Assignment A Abandonment When a tenant leaves a property without providing notice and without making arrangements for rent payment. Acceptance The act of a landlord or property manager taking possession of a property from a tenant, typically at the end of a lease term. Access The right...
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