Real estate and property glossary
Plain-language definitions for rental operations, owner reporting, maintenance workflows, and property performance tracking your team can reuse.
Owner Draw
Cash taken out by an owner from property operations.
Owner Statement
The recurring financial summary sent to a property owner.
Ownership Entity
The legal entity that holds title to a property.
Parts Inventory
The stock of replacement parts used for maintenance.
Payment Plan
An agreed schedule for settling overdue balances in parts.
Payment Reconciliation
Matching incoming payments to expected charges.
Payment Reminder
A notice sent before or after rent becomes due.
Photo Coverage
How completely the listing photos represent the unit.
Plumbing Stack
The vertical pipe system serving multiple floors.
Portfolio Performance
The combined operating result of multiple assets.
Portfolio Review
A management review of multiple assets at one time.
Power Backup
The backup system used during a power outage.
Preventive Maintenance
Planned work done before a failure happens.
Privacy Notice
The disclosure explaining how personal data is used.
Property Inspection
A documented review of condition at a property or unit.