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Real Estate Dictionary

Real Estate Dictionary

What is a Transaction Broker in Real Estate?

A transaction broker is a neutral party who facilitates a transaction by providing limited representation to both the buyer and seller without advocating for either side.

December 15, 2024

Can you Build on Landlocked Property?

Building on landlocked property is possible but requires securing legal access, meeting zoning requirements, and addressing utility challenges, which can increase costs and complexity.

December 15, 2024

What are some Red Flags When Buying a Multifamily Property?

When buying a multifamily property, be cautious of financial inconsistencies, property condition or tenant issues, and legal, location, or seller-related risks, as these can impact profitability and long-term value.

December 15, 2024

What do the Different Listing Statuses Mean?

Real estate listing statuses describe a property’s availability, ranging from Active (for sale) to Pending/Contingent (under contract) to Sold or removed from the market.

December 15, 2024

What is a Limited Service Listing in Real Estate?

A Limited Service Listing in real estate is a reduced-cost arrangement where the agent provides minimal services, like listing the property on the MLS, while the seller handles most of the sale process independently.

December 15, 2024

What is Airbnb Arbitrage?

Airbnb arbitrage is a business model where you lease properties long-term from landlords and sublease them on short-term rental platforms like Airbnb to profit from the difference after covering rent and expenses.

December 15, 2024

Do Tenants Have Parking Rights?

Tenants in the U.S. have parking rights only if specified in their lease or required by local laws, with additional considerations for accessibility and property-specific rules.

November 17, 2024

Can a Tenant Change the Locks?

In the U.S., tenants can often change locks with landlord permission or as allowed by state laws, but they must usually provide a copy of the new key unless exempt by circumstances like domestic violence.

November 17, 2024

What is a Writ of Restitution?

A Writ of Restitution is a court order issued to enforce a judgment of possession, typically in the context of an eviction case. It grants the legal authority to remove a tenant from a property and restore possession of that property to the landlord or rightful owner.

November 17, 2024

The Basics of Property Accounting

Property accounting tracks and manages all financial aspects of real estate, including income, expenses, assets, and liabilities, using financial reports and specialized software to ensure compliance and optimize property profitability.

November 17, 2024
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