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The 7% rule in real estate suggests a rental property should generate annual rent equal to at least 7% of its purchase price to indicate a potentially good investment.
Chattel is movable personal property that doesn’t transfer with real estate by default. An appurtenance is a permanent fixture or right that automatically transfers with the property.
A lis pendens is a public notice filed during a lawsuit that warns potential buyers or lenders that a property is involved in legal action that could affect its ownership or title.
Owner-occupied commercial real estate is governed by zoning, building, environmental, tax, and financing regulations that vary by location and use.
A commercial property appraisal determines a property's market value through professional analysis, typically costing between $2,000 and $25,000 depending on complexity and use case.
A Covered Land Play is a real estate investment where the current income from a property offsets holding costs while the investor waits to redevelop the land for a higher-value use in the future.
Valet Trash in multifamily housing refers to a doorstep trash collection service provided to residents, usually five nights a week. Instead of walking to a dumpster or centralized trash compactor, residents place their bagged garbage in a provided bin or outside their door during a designated time window.
Base Rent is the scheduled monthly rent a tenant pays only for the right to occupy the apartment home. It excludes all other recurring or one-time charges.
A convertible is an oversized studio with an open alcove you can screen off, a junior 1-BR pre-partitions that alcove to mimic a small bedroom, and an urban 1-BR is simply a rebranded junior/convertible marketed with city-centric finishes and flair.
An Urban 1BR is a small apartment that keeps studio-like square footage but tucks the bed behind a partial wall or sliding door—often with no bedroom window—to give renters a hint of privacy at a price just below a traditional one-bedroom.
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