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Real Estate Dictionary

What are some drawbacks of using a multifamily revenue management system?

Multifamily revenue management is a system used by property managers and owners to optimize rental income by setting rental rates based on various factors like market demand, seasonality, unit type, and historical data. While many in the multifamily industry find value in these systems, critics argue that there are several drawbacks.

November 10, 2023

How do you calculate net effective rent in excel?

To calculate the Net Effective Rent (NER) in Excel, you will typically follow a formula that takes into account the total cost of the lease over its term, including any concessions like free months of rent, and then divides that by the total term of the lease to get the average monthly cost.

November 8, 2023

What is Due Diligence Automation in Real Estate?

Due diligence automation utilizes advanced technologies to streamline the verification of property details, improve accuracy in risk assessments, and expedite the decision-making process during property transactions.

November 8, 2023

Best Sources of Real Estate News in 2024

For staying updated with real estate news, several sources are highlighted by different platforms as being among the best.

November 8, 2023

How do you budget for operating expenses on a multifamily proforma?

Creating a budget for operating expenses on a multifamily proforma involves a detailed analysis of both current and projected costs associated with the property. Here's a step-by-step guide to help you budget for operating expenses.

November 6, 2023

How do you find good rent comps?

Finding rent comparables, or "rent comps," is an important step in determining the appropriate rental price for a property. Rent comps are similar rental properties in terms of location, size, condition, and amenities that have recently been leased.

November 6, 2023

What is a Market Analysis in CRE?

A market analysis in real estate, often referred to as a Comparative Market Analysis (CMA), is a study designed to determine the estimated value of a property, based on the current market conditions.

November 6, 2023

What is a Multifamily Rent Survey?

A multifamily rent survey is a study or analysis conducted to gather, compare, and evaluate rental rates of multifamily properties (e.g., apartment complexes) within a specific market or area.

October 25, 2023

What is Multifamily Revenue Management?

Multifamily revenue management refers to the application of data analytics, statistical algorithms, and other predictive mechanisms to optimally price rental units in multifamily housing (like apartment complexes) to maximize revenue.

October 25, 2023

What are multifamily expense benchmarks and how are they used?

Multifamily Expense Benchmarks refer to standardized measures or metrics that provide an average or range of typical operating expenses associated with running a multifamily property, such as an apartment complex.

October 20, 2023

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