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Multifamily Real Estate Glossary

Multifamily Real Estate Glossary

What is ACoM Certification in Property Management?

The ACoM (Accredited Commercial Manager) Certification is a professional designation offered by the Institute of Real Estate Management (IREM). It is designed for property managers who specialize in managing commercial properties such as office buildings, retail centers, industrial properties, and other types of commercial real estate.

July 10, 2024

What is CAPS Certification in Property Management?

CAPS (Certified Aging-in-Place Specialist) certification, awarded by the NAHB, equips professionals with expertise in designing and modifying homes to accommodate the needs of aging adults, enhancing safety, comfort, and independence.

July 10, 2024

What is a LURA in Real Estate?

A LURA is a legal agreement that ensures a property remains affordable for low-income tenants by imposing income and rent restrictions and binding future owners to these terms.

June 26, 2024

What is an Expense Stop in Commercial Real Estate?

An expense stop is a lease term that limits landlord-paid operating expenses to a base year amount, with tenants paying any excess in subsequent years.

June 26, 2024

What is Conduit CMBS in Real Estate?

Conduit CMBS are structured financial products where multiple commercial real estate loans are bundled into a single pool, securitized, and sold as bonds to investors.

June 26, 2024

What is a Parking Ratio in Real Estate?

A parking ratio measures the number of parking spaces provided per unit of property, typically expressed as spaces per 1,000 square feet or per residential unit, and is crucial for compliance, user convenience, and property value.

June 26, 2024

What is a Real Estate Pro Forma?

A real estate pro forma is a financial forecast used to assess the viability and profitability of a property investment.

June 26, 2024

What Does ADR Mean in Real Estate?

ADR stands for "Average Daily Rate." It is a metric commonly used in the hospitality industry, particularly for short-term rentals, hotels, and vacation properties. ADR represents the average income earned per rented room or unit per day.

June 26, 2024

What is a Good DCR in Real Estate?

A good Debt Coverage Ratio (DCR) typically ranges from 1.2 to 1.5, indicating that the property generates 20% to 50% more income than its debt payments, providing a cushion for lenders and potentially leading to better loan terms.

June 26, 2024

What is a DCR Loan in Real Estate?

The term "DCR Loan" refers to a loan that is evaluated based on the Debt Coverage Ratio (DCR), also known as Debt Service Coverage Ratio (DSCR). This ratio is a key financial metric used by lenders to assess the ability of a property to generate enough income to cover its debt obligations.

June 26, 2024
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