Real Estate and Multifamily Terms Glossary

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Marketing

What is a Cost Per Lead (CPL) in Property Management?

Property managers can efficiently allocate advertising budgets to achieve the best results by analyzing CPL.

Business

What is Considered a Core Investment in Real Estate?

Investments like these are characterized by their ability to generate consistent returns through high occupancy rates and established tenant bases.

Business

What is a Conventional Multifamily Loan?

A conventional multifamily loan is a type of mortgage designed to finance multifamily properties. These properties include apartment buildings, typically ranging from two to four units. Unlike government-backed loans, these conventional loans are not insured by federal agencies. This means lenders primarily rely on the borrower's creditworthiness and the property’s income-generating potential.

Real Estate

What is a Concession in Multifamily Leasing?

A concession in multifamily leasing is an incentive offered by landlords or property managers to attract tenants. For example, tenants might get reduced rent or a period of free rent.

Real Estate

What is a Common Area in Multifamily Properties?

The primary function of a common area is to provide shared utilities and services that enhance the quality of living for residents.

Real Estate

What is Commercial Real Estate?

It serves as a vital component of the investment landscape. It offers opportunities for both individual and institutional investors to diversify their portfolios.

Real Estate

What Does a Commercial Real Estate Broker Do?

The core responsibility of a commercial real estate broker is to facilitate transactions involving commercial properties, such as office buildings, retail spaces, and industrial sites.

Real Estate

What is a Lease Commencement Date? Understanding its Importance in Lease Agreements

The lease commencement date marks the official beginning of the lease. It indicates when the tenant can take occupancy of the space and when their obligations under the lease, such as paying rent, commence.

Business