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Multifamily Real Estate Glossary

Multifamily Real Estate Glossary

What is a lease rent optimizer?

A Lease Rent Optimizer is a tool or software system used by property managers, landlords, and real estate companies to maximize revenue from their rental properties. This system applies advanced algorithms and data analysis to set optimal rental prices.

December 7, 2023

What is an M2M Lease?

An "M2M" lease, short for "month-to-month" lease, refers to a rental agreement that operates on a monthly basis. This type of lease offers flexibility for both the landlord and the tenant in comparison to a fixed-term lease, like a year-long lease.

December 7, 2023

What is the difference between market rent and HUD fair market rent?

Market rents and HUD Fair Market Rents (FMRs) are both measures used to understand rental prices, but they serve different purposes and are calculated differently.

December 2, 2023

How do you create a sources and uses statement for a real estate deal?

Creating a "Sources and Uses" statement is an essential part of real estate financial analysis, particularly for development projects or large acquisitions. Here's a step-by-step guide on how to create one.

November 29, 2023

What is an Operating Expense Ratio?

The Operating Expense Ratio (OER) in multifamily real estate is a financial metric used to understand the efficiency of a property’s operation. It is calculated by dividing the total operating expenses of a property by its gross operating income.

November 26, 2023

What Does Eff Year Built Mean?

"Eff Year Built" on a tax statement stands for "Effective Year Built." It's a term used in property assessment and taxation to represent an estimate of when a building's current condition reflects a similar state to that of a new building.

November 26, 2023

What is the difference between cap rate and IRR in commercial real estate?

In commercial real estate, both the capitalization rate (cap rate) and the internal rate of return (IRR) are key metrics used to evaluate the potential profitability and investment performance of a property, but they measure different aspects and are used in different contexts.

November 23, 2023

What is a T-12 in commercial real estate?

In commercial real estate, a "T-12" refers to a Trailing Twelve Months financial statement. It's a document that provides a comprehensive overview of a property's financial performance over the past twelve months.

November 23, 2023

What is an offering memorandum in commercial real estate?

An Offering Memorandum (OM) in commercial real estate is a comprehensive document used to present a commercial property to potential buyers or investors.

November 23, 2023

What is a rent concession?

A rent concession is an incentive such as months of free or reduced rent, waived fees, or upgrades that is offered by landlords to attract tenants in competitive rental markets.

November 23, 2023
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