Property Management & Real Estate Glossary

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24 hour Notice to Enter
Landlords should give 24 hours’ notice to enter property. This is done by sending an email or text message with the date and time of access, which ensures landlords will have their properties entirely prepared for renters when they arrive.
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Apartment
An Apartment is a type of housing unit that is typically found in a multi-unit complex. An apartment unit usually consists of one or more bedrooms, a kitchen, a living room, and a bathroom. Apartment units are usually leased from the owner of the complex by the individual tenant. An apartment complex may be owned by a single individual, a company, or multiple entities. Apartment complexes are typically located close to similar complexes and have schools, public transportation, and other amenities near them.
Assignment of Rent
The Assignment of Rent is a legal contract that enables the lender to collect rent if you default on your mortgage. It must be signed by both the borrower and lender when renting out property.
Average Annual Return (AAR)
Average Annual Return (AAR) is associated with investments and is used as a performance benchmark. AAR captures the compounded yearly growth rate of an investment over a specified period of time. AAR helps investors understand how an investment has performed in the past and indicates how it may perform in the future. AAR is crucial for long-term planning purposes and retirement planning. 
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Cash-on-Cash Return
Cash on cash return is a rate used by investors to calculate the return they make when buying property. It measures the ratio of annual income made by a real estate investor to the amount of mortgage paid during the same year.
Certificate Of  Occupancy
The Certificate Of  Occupancy is a legal document that ensures the building’s integrity and safety.
It’s necessary for several reasons, including making sure there are no leaks or other structural issues with the building in question and ensuring all safety standards have been met on site as well.
Certificate of Title
The certificate of title is a legal document that identifies the owner(s) and their property. 
It allows you as the owner or prospective buyer peace-of mind that there are no outstanding debts against them, so it’s time for excitement.
Co-Applicant
The co-applicant is an individual who can add their voice to that of another party, such as in underwriting and approval.
Co-Signer
co-signer is a person who signs a loan or credit agreement with the borrower. The co-signer becomes legally obligated to repay the debt if the borrower fails to do so. Co-signers are typically used when the borrower has a poor credit history or no credit history at all. By signing with a co-signer, the borrower is essentially saying that they are confident in their ability to repay the debt. Co-signers can be close friends or family members, but they can also be strangers. It is important to note that being a co-signer is a big responsibility and should not be taken lightly. If you are considering becoming a co-signer, make sure you understand all of the risks involved before you sign any agreements.
Co-Tenant
Co-tenancy is a legal relationship between two or more people who share possession and use of property, like an apartment, office, or land. Co-tenants each have an undivided interest in the property and are jointly responsible for its care and upkeep. In most cases, co-tenants must also agree unanimously on any decisions regarding the property, such as whether to sell or sublet it. Co-tenancy can be formed intentionally, like when friends decide to move in together, or unintentionally, like when siblings inherit property from their parents. Regardless of how it is created, co-tenancy gives all tenants equal rights to use and enjoy the property.
Condominium
The condominium (also called a ” condo”) is a large property complex that consists of individual units. It is an ideal place for those who want independence, privacy, and space in one package.
The condominium offers more control and flexibility than other types of housing, such as apartments or townhouses, but with less space per unit (and higher prices).
Credit History
Credit history is a record of a person’s ability to repay debts. It includes information about late payments, bankruptcies, and other financial problems that may make lenders reluctant to give someone a loan. Good credit history can be essential for getting a mortgage, a car loan, or even a job. Credit history is also important for businesses. If a company has a poor credit history, it may be unable to get loans or lines of credit from banks. Credit history is generally maintained by credit bureaus, which collect information from lenders and other sources. This information is then used to generate credit scores, which are used by lenders to assess borrowers’ risk. A person with a higher credit score is generally seen as being more likely to repay a loan than someone with a lower score.
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Duplex
A duplex is a building that contains two separate living units. Duplexes are often owner-occupied, with the owner living in one unit and renting out the other. However, they can also be investment properties, with both units being rented to tenants. Duplexes can come in a variety of different layouts, but they typically have two entrances and two levels of living space. While duplexes are usually found in urban areas, they can also be found in suburban and rural areas. Duplexes offer several advantages over other types of rental properties, such as townhouses and apartments. For one, they tend to be more affordable than single-family homes. Additionally, duplexes offer more privacy than apartments, as each unit has its own entrance and living space. Finally, duplexes offer the opportunity for passive income, as the owner can generate rental income from the other unit.
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Effective Rent
Effective rent is a key metric used by landlords and tenants to measure the value of a rental property. Effective rent is the sum of the base rent plus any additional charges, such as utility fees, pet fees, and parking fees. Effective rent can also be expressed as a percentage of the property’s market value. For example, if a property has an effective rent of $1,500 and a market value of $200,000, the property’s effective rent would be 0.75%. Effective rent is an important metric because it allows landlords and tenants to compare different properties and assess their relative value. Additionally, effective rent is a useful tool for evaluating lease terms and determining whether or not a property is fairly priced.
Estoppel Certificate
An Estoppel Certificate is a document that is used to verify that certain agreements or understandings between parties are accurate and still in effect. It is typically used in situations where one party is relying on the representations of another, such as in a real estate transaction. The Estoppel Certificate will set forth the relevant agreements between the parties and confirm that they are still in force. This can provide valuable peace of mind to the party who is relying on the representations contained in the Estoppel Certificate. In some cases, an Estoppel Certificate may also be used to modify or terminate an existing agreement between parties. For example, if a tenant agrees to vacate the property by a certain date, an Estoppel Certificate can be used to memorialize this agreement. Estoppel Certificates can be used in a variety of situations, and they can provide valuable protection for all parties involved.
Eviction
Eviction is the legal action undergone by a landlord in order to remove tenants who are not fulfilling their end of the deal. 
Eviction Notice
The eviction notice is a legal document for landlords and property owners to start the process of evicting someone from their home.
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Fair Housing Act
The Fair Housing Act is a federal law that protects your right to live anywhere you want without being judged by who are or what faith practices. It also ensures religious freedom, which means no one can force their views on others through housing policies.
Floor Area Ratio (FAR)
The Floor Area Ratio (FAR) is a measurement that indicates the amount of a building’s floor area that is dedicated to a specific use, such as residential, commercial, or industrial. It is calculated by dividing the total floor area of the building by the area of the land on which it is situated. The higher the FAR, the more densely built-up an area is. FARs are used in urban planning to control the density of development and to ensure that adequate open space is available. In general, areas with higher FARs are more likely to have a greater variety of uses, while areas with lower FARs tend to be more residential.
Foreclosure
Foreclosure is the legal process by which a borrower in default on their mortgage loan is relieved of their obligation to make payments and the property securing the loan is sold to pay off the outstanding balance. Foreclosure proceedings can be initiated by the lender or, in some cases, by the borrower. In most jurisdictions, foreclosure proceedings are judicial, meaning they must be initiated by a court order. However, non-judicial foreclosure proceedings are also possible in some cases. Foreclosure is often seen as a last resort for lenders, as it can be costly and time-consuming. However, in some cases, foreclosure may be the best option for all parties involved.
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Gross Lease
A gross lease is a type of lease agreement where the tenant is responsible for paying all expenses related to the property, in addition to their regular monthly rent payment. These expenses can include utilities, taxes, insurance, and maintenance. The main advantage of a gross lease is that it simplifies budgeting for the tenant, as they know exactly how much they will need to pay each month. Additionally, gross leases often result in lower overall costs for the tenant, as the landlord typically covers many of the expenses that would be passed on to the tenant under a different type of lease agreement.
Gross Rent
Gross rent is a term used in real estate to describe the total amount of rent paid for a property before any deductions are made. This includes any payments made for utilities, parking, or other amenities. Gross rent is often used as a baseline for comparison when shopping for rental properties. For instance, if two properties have identical monthly rental rates, but one includes utilities while the other does not, the property with the higher gross rent will be more expensive overall. Gross rent can also be used to calculate a property’s potential return on investment (ROI). For example, if a property’s monthly gross rent is $1,000 and its purchase price is $100,000, its ROI would be 1%.
Ground Lease
ground lease is a type of lease in which the tenant rents land from the landlord. The landlord retains ownership of the land, but the tenant has the right to use the land for a specific purpose, such as building a house or a store. Ground leases are often used when the tenant wants to build something on the land that will become a permanent part of the property, such as a swimming pool or a garage. The term of a ground lease is typically much longer than a traditional lease, often lasting for 99 years or more. Ground leases can be an attractive option for both landlords and tenants, as they provide the landlord with long-term income and security while giving the tenant the ability to improve the property.
Guarantor
guarantor is a person who agrees to be held responsible for another person’s debt or obligation if they are unable to meet their financial obligations. Guarantors can be individuals or businesses, and they may be asked to guarantee a loan, contract, or other financial obligation. In many cases, a guarantor will be required to provide collateral, such as property or cash, to secure the debt. If the primary debtor fails to repay the debt, the guarantor is responsible for repaying it. Guarantors are typically used when the primary debtor has bad credit or no collateral. Guarantors can also be used in business transactions to guarantee that a product will be delivered as promised.
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Holdover Tenant
holdover tenant is a tenant who remains in possession of a rental unit after the expiration of their lease. In most cases, holdover tenants are treated as month-to-month tenants, which means they are required to pay rent every month. However, in some cases, holdover tenants may be required to pay a higher rate of rent or may be subject to other special terms and conditions. Holdover tenants also have the right to terminate their tenancy at any time without cause. However, if a holdover tenant fails to pay rent or violates the terms of their lease, they may be subject to eviction.
House Rules Addendum
House Rules Addendum is a specific regulation that a tenant must follow to rent a property. A House Rules Addendum is a document that outlines these rules and is typically signed by both the landlord and the tenant before the lease is executed. The addendum may cover topics such as quiet hours, pet restrictions, parking, and outdoor noise levels. House rules are designed to help tenants feel comfortable in their new homes while also respecting the rights of their neighbors. By signing a House Rules Addendum, tenants are agreeing to abide by these rules for the duration of their lease.
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Inspection Checklist Addendum
An Inspection Checklist Addendum is a tool that can be used by inspectors to supplement a standard checklist. Inspection checklists are used to assess the condition of a property, and the addendum can be used to document specific issues that are not covered by the standard checklist. The addendum can also be used to provide additional information about an item on the checklist. For example, an inspector might use the addendum to note the severity of a problem or to provide recommendations for repairs. In some cases, the Inspection Checklist Addendum might also be used to describe conditions that were not apparent during the inspection, such as hidden damage or previous repairs that have not been properly documented. Ultimately, the Inspection Checklist Addendum is a valuable tool that can help inspectors more thoroughly document the condition of a property.
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Lead-Based Paint Disclosure
Lead-Based Paint Disclosure is a form that must be provided to any prospective buyer of a property built before 1978. The form discloses the presence of lead-based paint or lead-based paint hazards in the home and informs the buyer of the risks associated with lead exposure. Lead-based paint is a serious health hazard and can cause a range of problems, from learning disabilities to behavioral problems. The Lead-Based Paint Disclosure form is required by law and helps to ensure that buyers are aware of the risks associated with lead-based paint before they purchase a property.
Lease Commencement Date
The lease commencement date is the date on which the tenant officially takes possession of the rental property and is responsible for paying rent. This date is typically stated in the lease agreement. In some cases, the landlord may allow the tenant to take possession of the property before the lease commencement date. However, the tenant will not be liable for rent until the official start date of the lease. Depending on the situation, the landlord may prorate the rent or require that the full month’s rent be paid upfront. If you are unsure about your lease commencement date, be sure to ask your landlord for clarification.
Leasehold Estate
leasehold estate is a property interest held by a tenant for a set period of time, as stipulated in a lease agreement. The lease agreement will also set out the terms of the tenancy, such as the rental amount and any rules or restrictions on the use of the property. The leasehold estate is created when the lease agreement is signed and becomes effective on the date specified in the agreement. The leasehold estate expires on the date specified in the agreement, at which point the tenant must vacate the property. If the tenant remains on the property after the expiration of the leasehold estate, they may be considered a trespasser.
Lessor
lessor is a person who transfers a lease of property to another person for the management, use, or enjoyment of that property for a specific period of time. The lessor is responsible for ensuring that the property is suitable for the lessee’s use and for maintaining the property during the term of the lease. The lessee typically pays rent to the lessor for use of the property. At the end of the lease term, the lessee may have the option to purchase the property from the lessor.
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Mediation
Mediation is a process in which two or more parties attempt to resolve a dispute with the assistance of a neutral third party. Mediation is typically used in situations where the parties are seeking to avoid litigation, or where they have already engaged in litigation but wish to avoid going to trial. The mediator’s role is to facilitate communication between the parties and help them reach an agreement. Mediation is confidential and often less formal than litigation, which makes it an appealing option for many parties. However, mediation is not binding, which means that if the parties are unable to reach an agreement, they can still go to trial.
Modified Gross Lease
modified gross lease is a type of lease agreement where the tenant is responsible for paying a portion of the property taxes, insurance, and operating expenses in addition to their monthly rental rate. The base rental rate is typically lower than a similar property that uses a full-service gross lease, however, the modified gross lease gives the tenant more control over their monthly expenses. In most cases, the landlord will still be responsible for maintaining the property and common areas. Modified gross leases are popular with office and retail tenants who want to have more control over their budgets.
Month-to-month lease
The month-to-month lease is an agreement that can be set up between landlords and tenants, establishing occupancy without a specific end date for either party involved.
Multi-Family Home
A multi-family home is a type of residential property that typically consists of two or more separate units. Multi-family homes can come in a variety of sizes and layouts, but they all have one thing in common: they provide tenants with their own private living space. Multi-family homes are a popular choice for renters because they offer many of the same amenities as single-family homes, but at a lower price point. Multi-family homes also offer tenants the opportunity to live close to their neighbors, which can be beneficial for people who enjoy a sense of community. Multi-family homes are an important part of the housing market and they provide an affordable housing option for many families.
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Net Operating Income (NOI)
Net operating income (NOI) is a key metric used in real estate investing. It is defined as the total revenue from a property minus the operating expenses, and it is used to assess the profitability of an investment. A property with a high NOI is typically considered to be a good investment, as it is generating a significant return after all expenses are paid. Conversely, a property with a low NOI may be less desirable, as it may be struggling to cover its costs. For investors, understanding NOI is essential to making informed decisions about which properties to invest in.
Notice of Lease Violation
Notice of Lease Violation is a formal notice given to a tenant that outlines one or more specific violations of the lease agreement. The notice provides the tenant with an opportunity to correct the violation (or violations) within a specified period of time, typically ranging from 7—30 days. If the tenant fails to take action to remedy the situation within the timeframe outlined in the notice, they may be subject to eviction proceedings. Notice of Lease Violations can be generated for a variety of reasons, including (but not limited to) failure to pay rent, damage to property, disruptive behavior, and unauthorized occupants. In most cases, Notice of Lease Violations are issued by the landlord or property manager; however, in some cases, they may also be issued by the local police or code enforcement officials. Regardless of who issues the notice, it is important to take prompt action to avoid potential eviction.
Notice of Rent Increase
A Notice of Rent Increase is a notice given by a landlord to a tenant informing the tenant that the rent for the property is going to be increased. The notice must be served on the tenant at least 90 days before the proposed date of the rent increase. The notice must also specify the amount of the proposed rent increase and the date on which it will take effect. If the notice is not served on the tenant under the law, then the proposed rent increase will not be effective.
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Occupancy
Occupancy refers to the number of people who are present in a space at any given time. It is an important factor to consider when determining the capacity of a room or building. Occupancy can also be used to refer to the use of a space, such as residential occupancy or commercial occupancy. Spaces with high occupancy rates are typically well-utilized and generate more revenue than spaces with low occupancy rates. Occupancy can also be used as a metric for safety, as it can help to identify areas that are more likely to experience crowding or congestion.
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Percentage Rent
Percentage rent is a term used in commercial leasing that refers to the amount of rent that is based on a percentage of the tenant’s sales. The percentage is typically outlined in the lease agreement, and it may be renegotiated if the tenant’s sales exceed or fall below certain thresholds. Percentage rent is typically only charged on net sales, which means that returns, discounts, and other deductions are subtracted from the total before the percentage is applied. For example, if a tenant has a 5% percentage rent clause in their lease and they generate $100,000 in net sales over a year, their landlord would be entitled to $5,000 in percentage rent. Percentage rent can be a significant source of income for landlords, particularly in retail leases where sales volumes are high. As such, it is important for tenants to carefully review any percentage rent clauses in their lease agreements before signing.
Pet Addendum
Pet Addendum is an addendum to a lease agreement that outlines the rules and regulations regarding pets. This may include specifying the type of pets allowed, limiting the number of pets per unit, or requiring pet rent or a pet deposit. The Pet Addendum should be signed by both the tenant and landlord before move-in. 
The Pet Addendum is a way for the landlord to minimize their liability if a pet causes damage to the property or injures another tenant. It is also an opportunity for the landlord to set ground rules regarding pet ownership so that all tenants are on the same page. By having a clear Pet Addendum in place, landlords can provide peace of mind for all parties involved.
Pet Deposit
pet deposit is an additional security deposit that a landlord may require from a tenant who intends to keep a pet on the premises. The deposit is usually equal to one month’s rent, and it is intended to cover any damage that the pet may cause to the property. In some cases, the deposit may be non-refundable. Pet deposits are separate from the security deposit, and they are typically due at the time of signing the lease.
Property Management Agreement (PMA)
Property Management Agreement (PMA) is a legally binding contract between a property owner and a property manager. In the agreement, the property owner appoints the property manager as their agent to manage the property. The agreement sets out the duties of the property manager, as well as their rights and responsibilities. The PMA should be customized to fit the specific needs of the property owner and the property being managed. For example, some PMAs may specify that the property manager is responsible for marketing and leasing the property, while others may give the property manager more general authority to manage the property as they see fit. Ultimately, the PMA should be clear about what is expected of both parties to avoid misunderstandings or disputes down the road.
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Rent Control
Rent control is a system that limits how much rent landlords can charge for their properties. Rent control is implemented by local or state governments in order to keep housing affordable for people with low incomes. Rent control laws vary from place to place, but they typically involve setting a maximum amount that landlords can charge for rent, as well as limits on how often and by how much rent prices can be increased. Rent control can be an effective way to make sure that everyone has access to affordable housing, but it can also lead to problems, such as a decrease in the quality of housing, as landlords may be less likely to maintain their properties if they are not able to charge higher rents.
Rent Increase
rent increase is when a landlord raises the amount of rent that a tenant pays. Rent increases can happen for many reasons, such as when the lease is up for renewal or when the cost of living in the area goes up. Landlords must typically give their tenants at least 30 days notice before raising the rent, and the new rent amount cannot be more than 10% higher than the old rent amount. Rent increases can be a major financial burden for tenants, so it’s important to budget carefully and have a backup plan in place in case of an unexpected increase.
Rent Roll
rent roll is a list of all the tenants in a rental property, along with the corresponding rental amount due each period. Rent rolls are an important tool for landlords and property managers, as they provide a clear overview of who is renting which unit and for how much. Rent rolls can also be used to track late payments, identify problem tenants, and assess overall rental income. In addition, rent rolls can be helpful when it comes time to renew leases or discuss rent increases with tenants. By keeping a rent roll for each property, landlords and property managers can stay organized and on top of their rental business.
Rental Verification
Rental verification is the process of verifying that an individual actually lives at the address that they have given. Rental verifications are often used by landlords to verify that a tenant resides at their property and to confirm that the tenant is who they say they are. Rental verifications can also be used by businesses to verify an individual’s address for shipping purposes, or by financial institutions to verify an individual’s identity and address. Rental verifications can be conducted online, by phone, or in person, and usually require the individual to provide some form of identification, such as a driver’s license or passport.
Renters insurance
Renters insurance is an important type of insurance for anyone who rents their home. This type of insurance can provide coverage for your belongings, liability, and even living expenses if you have to evacuate your home due to a covered event. 
Rules Addendum
Rules Addendum is a document that is often used in conjunction with a standard residential lease agreement. The Rules Addendum outlines specific rules and regulations that the tenant must follow during their tenancy. These rules may include restrictions on pets, smoking, noise levels, and guests. The Rules Addendum is not a standalone document. It must be attached to and become a part of the Residential Lease Agreement in order for it to be enforceable. While the Rules Addendum gives the landlord greater flexibility to tailor the rules of each individual tenancy, it is important to remember that any rules included must be reasonable and cannot violate state or federal law.
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Security Deposit
security deposit is a sum of money that is paid by the tenant to the landlord at the start of the tenancy. The security deposit is held by the landlord as security against any damage that may be caused to the property during the tenancy. The security deposit is not used to pay rent and cannot be used by the landlord as a way to evict a tenant. In most cases, the security deposit will be returned to the tenant at the end of the tenancy, provided that there has been no damage to the property. If there has been damage to the property, the landlord may withhold some or all of the security deposit to cover the cost of repairs.
Self-Eviction
Self-eviction occurs when a tenant is forced to leave a rental property by the actions of the landlord, rather than through an eviction notice or court order. Self-evictions can take many forms, but they all involve the landlord making it difficult or impossible for the tenant to remain in the rental unit. For example, the landlord may shut off utilities, remove the front door, or change the locks. Self-evictions are illegal in most jurisdictions, and tenants who have been subjected to self-eviction may have recourse against the landlord through the legal system.
Single-Family Home
single-family home is a standalone dwelling that houses one family unit. Unlike an apartment or condo, a single-family home does not share any wall or common space with another unit. As a result, families who live in single-family homes have more privacy and space than those who live in multi-family dwellings. In addition, single-family homes typically have yards, which provide additional outdoor space for families to enjoy. Because of their privacy and extra space, single-family homes are often more expensive than other types of housing. However, for families who value their privacy and need extra room to grow, a single-family home can be the perfect solution.
Smoke-Free Addendum
Smoke-Free Addendum is a document that can be added to a lease agreement to make the premises a smoke-free zone. The addendum outlines the rules and regulations regarding smoking on the property, and may also include penalties for violations. Smoke-free addendums are becoming increasingly common as more people are looking for ways to protect themselves from secondhand smoke. In some cases, Smoke-Free Addendums may be required by state or local law. However, even in areas where they are not legally mandated, Smoke-Free Addendums can be a valuable tool for landlords and tenants alike. By clearly defining the smoking policy for a property, Smoke-Free Addendums can help to prevent conflicts and ensure that everyone enjoys a clean and healthy living environment.
Spec House
Spec houses are a type of investment property that is built speculatively, without a specific buyer in mind. This means that the builder takes on all the risk, rather than the buyer. Spec houses are usually built to flip them for a profit, but they can also be rented out or sold to owner-occupiers. The main advantage of investing in a spec house is that it can be a quick and easy way to make money. However, there are also a lot of risks involved, as the builder may not be able to sell the property for a profit. If you are considering investing in a spec house, it is important to do your research and speak to a professional before making any decisions.
Standard Lease Agreement
standard lease agreement is a contract between a tenant and a landlord that outlines the terms of renting a property. The standard lease agreement is designed to protect both the tenant and the landlord by clearly specifying the rights and responsibilities of each party. The agreement should be read carefully before signing, and all questions should be answered honestly to avoid any misunderstanding or conflict down the road. By signing a standard lease agreement, both the tenant and the landlord agree to uphold their respective obligations under the contract. This includes, but is not limited to, paying rent on time, maintaining the property in good condition, and following all applicable laws and regulations. By adhering to the terms of the standard lease agreement, both parties can enjoy a smooth and hassle-free tenancy.
Sublease
sublease is defined as an agreement between the tenant of a property and a third party, whereby the tenant agrees to let all or part of the property to the third party for a specified period of time and subject to the terms of the tenancy agreement. The sublease must comply with the terms of the head lease and cannot be for a longer period than the unexpired term of the head lease. The sublease can be assigned without the consent of the landlord. This arrangement is often used when the tenant wants to move out before the end of their tenancy agreement but does not want to lose their security deposit or be liable for breaking their lease. Subleasing can also be a way for tenants to make some extra money by renting out part of their home.
Sublet
Subletting is the act of renting out a property that you are currently leasing from a landlord. This can be done with the landlord’s permission or without it, although most leases will specify whether or not subletting is allowed. Sublets are typically short-term arrangements, lasting anywhere from a few weeks to a few months. They can be a great option for people who need to relocate temporarily for work or other reasons. However, it’s important to be aware that subletting comes with its own set of risks and responsibilities. For example, if the subtenant damages the property, the landlord may hold the original tenant responsible. As such, it’s important to carefully screen potential subtenants and read your lease carefully before subletting your apartment or house.
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Tenant Screening
Tenant screening is the process of checking a prospective tenant’s background to ensure that they are likely to make a good and reliable renter. This typically includes running a credit check and criminal background check, as well as verifying employment history and rental references. Tenant screening can be an important tool for landlords in finding responsible tenants and avoiding problem renters. By taking the time to screen tenants, landlords can help protect their property and investment, while also providing peace of mind to themselves and their other tenants.
Tiny House
tiny house is defined as a dwelling of 400 square feet or less, excluding loft space. The typical dimensions of a tiny house are 8 feet wide by 20 feet long, but there is no standard size. Tiny houses can be built on a variety of foundations, including wheels so they can be easily moved, and are often designed to be highly energy efficient. The term “tiny house” is also used to describe a lifestyle choice of living simply with fewer possessions and minimal impact on the environment. For many people, tiny houses provide an alternative to traditional housing that is more affordable, flexible, and sustainable.
Townhome
Townhomes are a type of housing that is similar to an apartment but has its own private entrance and is usually part of a row of similar homes. Townhomes are usually less expensive than single-family homes and offer many of the same amenities, such as a yard or garage. Townhomes are a popular choice for families or individuals who want the privacy of their own homes but don’t want the hassle of maintaining a large property.
Triple Net Lease 
triple net lease is a type of commercial lease in which the tenant is responsible for all of the property’s operating expenses, including insurance, taxes, and maintenance. The term “net” refers to the fact that these expenses are typically paid by the tenant on a monthly basis in addition to the base rent. Triple net leases are often used for industrial or retail properties, as they provide the landlord with a higher degree of financial security. In addition, triple net leases often give the tenant more control over the property as they are responsible for its upkeep. As a result, triple net leases are a popular choice for many businesses.
Triplex
triplex is a three-unit apartment building. Triplexes are usually smaller than other types of apartment buildings, such as duplexes or larger structures. Triplexes may be owner-occupied, with the owner living in one unit and renting out the other two units, or they may be fully rented. Triplexes can also be found in a variety of architectural styles, from historic to contemporary. Regardless of their style, triplexes provide an efficient way to house multiple families while still maintaining a sense of privacy and independence.
Turnkey Property
turnkey property is a type of investment property that is ready to be leased or rented out. Turnkey properties are usually sold as-is, meaning that the buyer does not have to put any additional money into the property to get it rent-ready. For investors, turnkey properties can provide a way to generate income without having to put forth a lot of effort. However, it is important to remember that turnkey properties are still investments, and there is always the potential for tenants to damage the property or fail to pay rent. As such, turnkey properties are not appropriate for everyone. Before making a decision, investors should carefully consider their own risk tolerance and financial goals.
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Warranty Deed
warranty deed is a legal document that is used to transfer ownership of real property from one person to another. The warranty deed contains some important provisions, including a guarantee that the property is free from any encumbrances or liens. This means that the person receiving the warranty deed can be confident that they will have clear title to the property. The warranty deed also includes several protections for the buyer, such as the right to sue the seller if there are any problems with the property. As a result, warranty deeds are often used in situations where there is a high degree of trust between the parties involved.
Welcome Letter
Welcome letters are documents that landlords write to new tenants. In the welcome letter, the landlord generally introduces themselves and welcomes the tenant to the property. The welcome letter may also contain important information about the property, such as the rules and regulations that tenants are expected to follow. Welcome letters are intended to help make the transition to a new rental property as smooth as possible for tenants. By providing clear and concise information about what to expect, welcome letters can help reduce stress and anxiety for both tenants and landlords.
Workforce Housing
Workforce housing is a type of housing that is affordable for workers in a specific community or region. Workforce housing developers work with employers, government agencies, and other partners to ensure that workers have access to quality, affordable housing. Workforce housing often includes a mix of apartments, townhomes, and single-family homes. Workforce housing developments may also include community amenities, such as parks, public transportation, and childcare facilities. Workforce housing is an essential part of ensuring that workers can live near their jobs and have the stability they need to succeed.

These resources are for informational purposes only and should not be construed as legal advice. Landlords and Tenants are encouraged to seek specific legal advice for any of the issues as found in this blog.