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19 Cards in this Set
- Front
- Back
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RETURN |
A profit from an investment |
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YIELD |
The amount of profit on a investment, stated as a percentage of the amount invested |
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APPRECIATION |
An increase in value; the opposite of depreciation |
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EQUITY |
An owner's unencumbered interest in his or her property; the difference between the value of the property and the liens against it |
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LEVERAGE |
The effective use of borrowed money to finance an investment such as real estate |
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CASH FLOW |
A property's residual income after deducting operating expenses, mortgage payments, and income taxes from gross income |
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SALE-LEASEBACK |
A form of real estate financing in which the owner of industrial or commercial property sells the property and leases it back from the buyer |
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MARKET RENTAL RATE |
The rental rates currently being charged for comparable rental units |
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RENTAL SCHEDULE |
A list of all the rental rates assigned to the different types of units in a building. For example, a rental schedule for an apartment building might list the rates of its studio apartments, one-bedroom apartments, and two-bedroom appartments |
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VACANCY FACTOR |
A percentage deducted from a property's potential gross income to determine the effective gross income, estimating the income that will probably be lost because of vacancies and tenants who don't pay |
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FIXED EXPENSES |
Recurring property expenses, such as general real estate taxes and hazard insurance |
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VARIABLE EXPENSES |
Expenses incurred in connection with property that do not occur on a set schedule, such as the cost of repairing a roof damaged in a storm |
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SECURITY DEPOSIT |
Money a tenant gives a landlord at the beginning of the tenancy to protect the landlord in case the tenant fail to comply with the terms of the lease. The landlord may retain all or part of the deposit to cover unpaid rent or repair costs at the end of the tenancy
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SUMMARY OF OPERATIONS |
A brief description of the property's income and expenses; this report makes it easier for the owner to evaluate the property's monthly financial performance |
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RENT ROLL |
A monthly report on rent collection, listing both occupied and vacant units and the total rental income earned, both collected and uncollected |
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STATMENT OF DISBURSEMENTS |
A report that lists all of the expenses paid during the pertinent period |
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PREVENTIVE MAINTENANCE |
A program of regular inspection and servicing for a property and its fixtures and equipment, to prevent potential problems |
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CORRECTIVE MAINTENANCE |
Repairs that keep equipment, utilities, and amenities functioning in a proper manner (such as fixing a leaking faucet) |
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UNLAWFUL DETAINER |
A lawsuit filed by a landlord to evict a defaulting tenant |
