Normal wear and tear refer to the natural deterioration that occurs over time with regular use of any rental property.
A triplex apartment is a multifamily structure that combines three separate residential units into one building. Each unit has its own kitchen, bathroom, living room, and exterior doors.
At its core, property turnover rate is the frequency at which a property changes occupants within a specific timeframe.
Such repairs are vital in ensuring that a property remains competitive and attractive to potential tenants while maintaining the overall quality of the living environment.
Gross rental income includes all income generated from rent and additional services, while expenses cover maintenance, property management fees, and utilities.
NIM is calculated by dividing the market value of a property by its net operating income (NOI). This provides a clear indicator of the property's income-generating potential.
In commercial real estate, net absorption measures the net change in occupied space within a specified period. It reflects the dynamics of supply and demand.
These properties often serve as an attractive investment option because they can generate rental income from multiple tenants. This income can offset mortgage payments and provide cash flow.
Conducting a thorough inspection can protect the security deposit by clearly outlining any pre-existing damages or new issues that arise during the tenancy.
