Real estate and property glossary
Plain-language definitions for rental operations, owner reporting, maintenance workflows, and property performance tracking your team can reuse.
Market Rent
The price comparable units are achieving in the market.
Minimum Stay
The shortest stay length allowed for a booking.
Month-to-Month Lease
A rolling lease that renews one month at a time.
Move-In Inspection
The condition review completed before a resident takes possession.
Move-Out Inspection
The review completed when a resident leaves the unit.
Net Operating Income
Income left after routine operating costs are removed.
Net Promoter Score
The metric summarizing how likely users are to recommend the service.
No-Show
A reservation where the guest never arrives.
Notice Period
The amount of advance notice required before a change.
Occupancy Limit
The maximum number of residents allowed in a unit.
Occupancy Permit
The approval allowing a building or unit to be occupied.
Occupancy Rate
The share of inventory currently generating revenue.
Occupancy Tax
The tax charged on temporary stays where required.
Operating Expense
The recurring cost of running a property.
Overbooking
Accepting more reservations than available inventory can honor.