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Multifamily Real Estate Glossary

Multifamily Real Estate Glossary

What is LIHTC Housing?

The Low-Income Housing Tax Credit (LIHTC) program incentivizes private investment in affordable rental housing by providing tax credits to developers, who then use these credits to attract equity from investors, thus creating and rehabilitating housing for low-income households.

July 21, 2024

How Long Does a Co-Signer Typically Stay on a Lease?

A co-signer typically stays on a lease for its entire term, often one year, and may remain obligated during renewals unless released by the landlord or upon early lease termination.

July 21, 2024

What is a Certificate Backed Mortgage?

A Certificate Backed Mortgage (CBM) is a type of mortgage backed by mortgage-backed securities (MBS), where certificates representing ownership in a pool of mortgages are sold to investors, providing liquidity to lenders and a stable income to investors.

July 20, 2024

What is Marketable Title in Real Estate?

A marketable title in real estate is a title free from significant defects, legal disputes, and encumbrances, ensuring clear and undisputed ownership that a reasonable buyer would accept without objection.

July 20, 2024

Types of Deeds in Real Estate

Different deeds, such as general warranty, special warranty, quitclaim, grant, bargain and sale, and special purpose deeds, provide varying levels of protection and warranties depending on the type and use case, ranging from full historical title guarantees to no warranties.

July 20, 2024

What is an Encumbrance in Real Estate?

An encumbrance in real estate is a claim, lien, charge, or liability that attaches to and restricts the use, value, or transferability of property.

July 20, 2024

What is Naturally Occurring Affordable Housing (NOAH)?

Naturally Occurring Affordable Housing (NOAH) consists of older, market-driven residential properties that are affordable without government subsidies, typically due to their age, condition, or location, providing essential housing options for low- to moderate-income individuals and families.

July 10, 2024

What is IREM in Real Estate?

IREM (Institute of Real Estate Management) is an international organization that provides education, certifications, resources, and advocacy to advance the professional standards of property and asset management.

July 10, 2024

What is CPM Certification in Property Management?

The CPM (Certified Property Manager) Certification, awarded by the Institute of Real Estate Management (IREM), is a prestigious designation that recognizes expertise and professionalism in property management, requiring specific education, experience, and adherence to ethical standards.

July 10, 2024

What is CMCA Certification in Property Management?

The CMCA Certification (Certified Manager of Community Associations) is a professional designation awarded by the Community Associations Institute (CAI) to individuals who demonstrate expertise in managing homeowners' associations, condominium associations, and other community associations.

July 10, 2024
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