Real Estate Dictionary

What is Pet Screening?

Pet screening is the process landlords use to evaluate and document tenants' pets or assistance animals to ensure compliance with property rules and legal requirements.

What is Phantom Space in Multifamily Real Estate?

Phantom space refers to the discrepancy between the actual usable square footage of a property and the higher square footage that is reported or listed, potentially leading to overvaluation.

What is physical obsolescence in real estate?

Physical obsolescence in real estate refers to the loss in property value due to aging and deterioration of the physical structure and its components, such as outdated plumbing, worn roofing, and inefficient heating systems.

What is plottage in real estate?

Plottage is the value increase resulting from consolidating adjacent land parcels into a single larger one, enhancing its development potential and market value.

What is PML in Real Estate?

In real estate, PML stands for Probable Maximum Loss. It is an estimate of the maximum expected damage or loss to a property from an earthquake, expressed as a percentage of the property's total replacement cost.

What is PML in real estate?

PML (Probable Maximum Loss) in real estate refers to the estimated maximum loss a property could face due to seismic activity, expressed as a percentage of the building's replacement value.

What is Present Value?

In real estate, present value is the current worth of a property's future income, discounted to today's dollars, accounting for the time value of money to aid in investment evaluations.

What is Principal Curtailment in Real Estate?

Principal curtailment is the voluntary payment of extra funds toward a mortgage’s principal balance, reducing the overall loan amount, interest costs, and repayment term.

What is Pro Rata Basis in Real Estate?

In real estate, pro rata basis refers to the proportional division of costs, expenses, or benefits among parties based on their ownership share, time of ownership, or leased space, ensuring fair allocation.

What is PropertyRadar?

PropertyRadar is a data and analytics platform offering detailed property and market insights to help real estate professionals and investors make informed decisions.

What is PropStream?

PropStream is a comprehensive real estate data and analytics platform widely used by real estate professionals in the United States. It provides access to extensive market data, lead generation tools, and property information, making it valuable for investors, agents, brokers, and others in the industry.

What is Propwire?

Propwire is a real estate software platform that offers free access to detailed property data and analytics for real estate investors, agents, and brokers.

What is Prorated Rent?

Prorated rent is the amount a tenant pays for a partial month when they move in or out of a rental property partway through the month, ensuring they only pay for the days they occupy the unit.

What is R&M in real estate?

R&M refers to Repairs and Maintenance, and involves both repairing damages and performing routine upkeep to maintain a property's value, safety, and appeal.

What is Real Capital Analytics (RCA) and How is it Used in Real Estate?

Real Capital Analytics (RCA) is a data firm providing insights on global commercial real estate markets, used for market analysis, investment sourcing, due diligence, benchmarking, and forecasting by real estate professionals.

What is Real Estate Structured Finance?

Real estate structured finance refers to complex financial arrangements that pool, repackage, and customize capital for large or risky real estate transactions, often using layers of debt and equity—such as mezzanine loans, preferred equity, or CMBS—to optimize risk and return for different investors.

What is Realogy?

Realogy Holdings Corp. is a leading U.S. residential real estate services provider, operating renowned brands like Coldwell Banker and Century 21, and offering brokerage, franchising, relocation, and title services.

What is Realty Mogul?

Realty Mogul is an online real estate crowdfunding platform that allows individuals to invest in a diverse range of commercial real estate opportunities through a user-friendly interface, providing access to both direct property investments and REITs.

What is RealtyTrac?

RealtyTrac is an online real estate marketplace and data provider specializing in foreclosure listings, market trends, and detailed property information for homebuyers, investors, and real estate professionals.

What is Realync?

Realync is a platform that facilitates virtual leasing and resident engagement for multifamily properties through live and pre-recorded video tours, enhancing the leasing process and communication with residents.

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