Flashcards in Chapter 28 - Property Management Tools Deck (9)
Rate of interest considered a reasonable return on investment; commonly used in the process of determining value based on net income
Restores broken or failed equipment to a specified condition.
Increases a property's appeal.
Gross Rent Multiplier (GRM)
A number derived from comparable rental properties in an area, which is then used to estimate the value of real estate.
A plan created by the property manager for overseeing the property, including market analysis, and developing a variety of financial reports including the operating budget.
What the property could rent for in the open market if unencumbered by any lease and available.
Net Operating Income
Income left after all operating costs are paid
Includes routine maintenance and inspections to keep equipment and the property in good working order