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Vocab: Real Estate Management
|Americans with Disabilities Act (ADA)
|A federal law protecting the rights of individuals with physical or mental impairments.
|To mix the money or property of others by an agent with the agent's personal or business funds or other property.
|Unauthorized appropriation of ownership rights over goods/ property belonging to another; also altering 1 form of prop. to another (changing leasehold apart. build. to freehold condo. ownership). Act that interferes w/ owner's right of possession to prop
|A long-range program prepared by a property manager for the management of a property.
|A program for operating a property submitted to the owner by a property manager.
|A yearly budget of income and expense for a particular property prepared by a property manager.
|Comprehensive, orderly, continuing program analyzing all investment aspects of a property and coordinating the leasing and maintenance of the property to ensure a financially successful project.
|Property Management Agreement
|Employment contract setting up agency relationship between prop. owner & real estate agent that gives agent job of managing the prop., including negotiating, leasing, repairing & maintaining the property, collecting rents, & accounting for funds.
|Property Management Report
|A periodic financial report prepared by a property manager for the owner.
|One who manages properties for an owner(s) as the owner's agent.
|A forecast of income and expense as may be reasonably projected over a short term of years, typically five years.
|A person employed to manage a building who lives on the premises.
|An account maintained by a real estate broker in an insured bank for the deposit of other people's money. Also called escrow account.
|Property producing rental income or used in business.
|A report of receipts and disbursements in evidence of net income of rental property.
|A method of tax avoidance such as protecting income from taxation by allowable depreciation.
|A projected rate of the percentage of rental unit vacancies that will occur in a given year.