Glossary

What is Concession Chargeback in multifamily?

In multifamily real estate, concession chargebacks are used to recover costs related to tenant incentives, such as rent reductions and free amenities. The process involves tenant agreements and invoicing third-party

What is High-Density Housing?

High-density housing involves residential developments with numerous units in limited land areas, commonly seen in urban settings. Characterized by multi-unit structures, it optimizes land use, promotes sustainability, and provides community

What is CapEx in real estate?

CapEx, or Capital Expenditures, in real estate refers to significant, long-term investments aimed at enhancing a property’s value, lifespan, or functionality. These expenses differ from operating costs (OpEx) as they

What is “Inclusive Architecture” in real estate?

Inclusive Architecture in real estate emphasizes creating accessible, adaptable spaces for diverse populations, promoting belonging and diversity. Key principles include accessibility, universal design, diversity, safety, and sustainability. This approach enhances

What is Digital Leasing?

Digital leasing utilizes online platforms to enhance leasing processes across industries, including real estate and equipment rentals. It streamlines operations by automating tasks such as tenant applications, electronic signing, and

What is an LPR System in multifamily housing?

A License Plate Recognition (LPR) System automates vehicle identification and parking management in multifamily properties, enhancing security and improving resident experiences. Utilizing high-resolution cameras, recognition software, and a management interface,

What NNN mean in real estate?

A Triple Net Lease (NNN) is a commercial lease where tenants pay base rent plus property taxes, insurance, and maintenance costs. This structure offers benefits like operational control for tenants

What is an Estoppel certificate?

An estoppel certificate is a crucial document in real estate transactions, providing evidence of lease agreements between landlords and tenants. It clarifies rental terms, lease duration, and litigation status, helping

What are key asset management metrics in real estate?

Implementing an asset management strategy requires careful monitoring of key performance indicators (KPIs) such as operating expenses, asset utilization, and maintenance metrics like MTTR and MTBF. Effective tracking leads to

What is Commercial Real Estate Portfolio Management?

Commercial real estate portfolio management involves combining property investments to optimize profits while minimizing risks. Key elements include real estate investments, property management, portfolio oversight, investment policies, and cash flow

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