Multifamily Real Estate Glossary

What is a rent roll?

A rent roll is a comprehensive document or spreadsheet used by landlords, property managers, and real estate investors to compile all the key details about the rental units they manage or own.

November 23, 2023

What is clickpay and how is it used?

ClickPay is a cloud-based payment platform that enhances the efficiency of rent collection in the multifamily industry. By offering a range of payment options such as credit/debit cards, ACH, and bank transfers, it caters to the evolving demands of property managers and residents.

November 22, 2023

What are the most common multifamily property management jobs?

The multifamily property management sector involves a range of job roles, each crucial for the efficient management and operation of apartment complexes and similar properties.

November 22, 2023

What is a multifamily rent comparable and how do you identify them?

A rent comparable, often referred to as a "rent comp," is an important concept in real estate, particularly in property management and investment. It refers to a property similar to the subject property in terms of various characteristics, used as a benchmark to determine the market rent for the subject property.

November 20, 2023

How do you create a net effective rent calculator in excel?

Creating a Net Effective Rent (NER) calculator in Excel involves setting up a formula to calculate the net effective rent based on the total cost of the lease over its term, including any rent-free periods or concessions. Here's a basic guide to set up such a calculator.

November 20, 2023

What is market rent in multifamily?

Market rent refers to the amount a willing tenant would pay and a willing landlord would accept for a rental property under current market conditions. This term is commonly used in real estate to indicate the going rate for rental properties in a specific area.

November 11, 2023

Is Depreciation Considered an Operating Expense in Multifamily?

Depreciation is not typically classified as an operating expense in financial reporting. Instead, it's a non-cash expense that reflects the gradual reduction in value of a company's tangible assets over time.

November 11, 2023

What is Fair Market Rent?

Fair Market Rent (FMR) is a term used, particularly in the United States, to describe a rent estimate that is determined to be fair and reasonable for a specific area. It's often used in housing assistance programs, such as the Section 8 Housing Choice Voucher program administered by the U.S. Department of Housing and Urban Development (HUD).

November 11, 2023

What are some drawbacks of using a multifamily revenue management system?

Multifamily revenue management is a system used by property managers and owners to optimize rental income by setting rental rates based on various factors like market demand, seasonality, unit type, and historical data. While many in the multifamily industry find value in these systems, critics argue that there are several drawbacks.

November 10, 2023

How do you calculate net effective rent in excel?

To calculate the Net Effective Rent (NER) in Excel, you will typically follow a formula that takes into account the total cost of the lease over its term, including any concessions like free months of rent, and then divides that by the total term of the lease to get the average monthly cost.

November 8, 2023

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Multifamily Real Estate Glossary

What is a rent roll?

What is clickpay and how is it used?

What are the most common multifamily property management jobs?

What is a multifamily rent comparable and how do you identify them?

How do you create a net effective rent calculator in excel?

What is market rent in multifamily?

Is Depreciation Considered an Operating Expense in Multifamily?

What is Fair Market Rent?

What are some drawbacks of using a multifamily revenue management system?

How do you calculate net effective rent in excel?

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