-1.png?width=218&height=40&name=PME%20-%20New%20Page%20(16)-1.png){kind=small}
Applicant Screening
Applicant Screening is the consistent process of evaluating a prospective tenant against written, lawful criteria.
Property Management Excellence Glossary
Leasing, Occupancy, and Revenue
Revenue performance is more than asking rent or physical occupancy. This collection connects demand, conversion, lease terms, vacancy, collections, retention, concessions, and turnover so owners can evaluate the quality and durability of property income.
Curated definitions
Explore Leasing, Occupancy & Revenue
Collections Cadence
Collections Cadence is the scheduled sequence of reminders, documentation, notices, reviews, payment-plan decisions, escalation, and legal handoff used...
Concession
A Concession is a financial incentive offered to secure or renew a tenant, such as free rent, reduced rent, waived fees, improvement allowances, or other...
Cost of Vacancy
Cost of Vacancy is the full economic impact of an empty unit or space, including lost rent, turn work, utilities, leasing labor or commissions,...
Days on Market
Days on Market is the number of days a unit or commercial space is actively available before a lease is executed.
Delinquency
Delinquency is rent or another tenant obligation that remains unpaid after the applicable due date.
Delinquency Aging
Delinquency Aging groups unpaid balances by how long they have remained outstanding, such as current, 1–15, 16–30, 31–60, and 60-plus days.
Featured
Delinquency Rate
Delinquency rate measures unpaid rent or charges as a percentage of the defined amount billed.
Economic Occupancy
Economic Occupancy measures the rent actually collected or earned compared with the property’s potential rent.
Effective Gross Income
Effective Gross Income is the property’s actual operating income after adjusting potential rent for vacancy, concessions, credit loss, and other income.
Effective Rent
Effective Rent is the average rent economically received after accounting for concessions and other lease incentives over the relevant term.
Gross Potential Rent
Gross Potential Rent is the total rent a property could produce if every unit or space were occupied at the applicable scheduled or market rent with no loss.
Guarantor
A Guarantor is a person or entity that agrees to satisfy specified lease obligations if the tenant does not.
In-Place Rent
In-Place Rent is the rent currently required under an executed lease.
Lead-to-Lease Conversion
Lead-to-Lease Conversion is the percentage of qualified inquiries that become signed leases.
Lease Renewal
A Lease Renewal extends an existing tenancy under new or continuing terms.
Lease-Up
Lease-Up is the period during which a new, renovated, repositioned, or significantly vacant property is actively filled to its target stabilized occupancy.
Featured
Leasing Pipeline
A Leasing Pipeline is the staged view of prospects moving from inquiry through showing, application, approval, lease signing, and move-in.
Leasing Velocity
Leasing Velocity is the speed at which available space moves through marketing, inquiry, showing, application or negotiation, approval, and signed occupancy.
Loss to Lease
Loss to Lease is the difference between market rent and the lower in-place rent being charged.
Make-Ready
Make-Ready is the cleaning, repair, paint, testing, and preparation work required to return a vacant unit or space to the approved leasing standard.
Market Rent
Market Rent is the rent a comparable unit or space is expected to command under current market conditions.
Market Rent Survey
A Market Rent Survey is the structured comparison of competing properties, available units or spaces, achieved or asking rents, concessions, condition,...
Occupancy Rate
Occupancy Rate is the percentage of rentable units or square feet currently occupied.
Physical Occupancy
Physical Occupancy is the percentage of units or rentable area that is actually occupied, regardless of whether all billed rent is collected.
Renewal Pipeline
A Renewal Pipeline is the staged list of upcoming lease expirations, offers, responses, negotiations, approvals, and completed renewals.
Renewal Rate
Renewal Rate is the percentage of expiring leases that renew during a defined period.
Rent Escalation
Rent Escalation is a scheduled increase in rent defined by the lease, such as a fixed annual amount, percentage increase, or index-based adjustment.
Rent Growth
Rent Growth is the increase in achieved rent over time from renewals, new leases, escalations, upgrades, or market movement.
Rent Roll
A Rent Roll is the current unit- or space-level schedule of tenants, occupancy, rent, lease dates, deposits, balances, and other key lease information.
Rent-Ready Standard
A Rent-Ready Standard is the written definition of the condition a unit or space must meet before it is marketed or delivered.
Resident Experience
Resident Experience is the cumulative perception a multifamily resident forms from leasing, move-in, communication, maintenance, common areas, payment...
Screening Criteria
Screening Criteria are the written standards used to evaluate applicants consistently, including required documentation, minimum qualifications,...
Security Deposit
A Security Deposit is money held under the lease and applicable law to cover permitted unpaid obligations or damage beyond ordinary wear.
Stabilized Occupancy
Stabilized Occupancy is the sustained occupancy level at which a property is considered to be operating normally for its market and business plan.
Tenant Relations
Tenant Relations is the ongoing management of communication, expectations, service, conflict, lease obligations, and trust with residential or commercial...
Featured
Tenant Retention
Tenant Retention is the ability to keep desirable residential or commercial tenants through responsive service, fair and clear lease practices, reliable...
Tenant Satisfaction Survey
A Tenant Satisfaction Survey is a structured feedback tool used to measure perceptions of maintenance, communication, safety, common areas, amenities,...
Tenant Turnover
Tenant Turnover is the change from one occupant to another and includes the notice period, move-out, vacancy, physical preparation, marketing, leasing,...
Unit Turn
A Unit Turn is the complete process of moving a multifamily unit from resident move-out to a documented rent-ready condition and then to the next move-in.
Vacancy Loss
Vacancy Loss is the rental income not earned because units or space are unoccupied or unavailable for rent.
Vacancy Rate
Vacancy Rate is the percentage of rentable units or square feet that is unoccupied at a given time.