Mr. Fischoeder, Mrs. Hudson, and Mr. Treeger are beloved fictional landlords who entertain us with their eavesdropping, wacky, yet kind-hearted personalities. Even though pop culture doesn’t always get it right, it’s done a decent job of introducing key real estate terms ubiquitous in the industry.
In multifamily real estate, landlords or property managers (PMs) ensure their apartment communities generate adequate cash flow through resident satisfaction, collecting rent, marketing the property, managing property income and expenses, understanding landlord/resident laws and regulations, overseeing evictions, and scheduling/conducting inspections. [1]
Not all landlords are property managers, and vice versa. Although the titles are sometimes used interchangeably, it’s essential to know that a landlord owns a property while the property manager handles its day-to-day operations. It’s not unusual to see someone in both roles, but as the business grows, these positions are typically held by two different people.
This article will briefly cover and define key terms associated with property management, including eviction, occupancy rate, and other related concepts. [1]
CO-SIGNER
This individual agrees to provide payment on a loan or lease if the primary borrower/leasee cannot.
DELINQUENCY
Delinquency refers to the state a renter is in when their rent is past due.
EVICTION
Eviction is the legal process by which a landlord removes a tenant or resident from a rental property. It is generally initiated when a tenant or resident violates the lease terms or fails to pay rent.
FIXED-TERM LEASE
Also known as a 12-month lease, this is the most traditional lease with a clear start and end date, rent control (avoids rent increases for the duration of the lease), and penalties for breaking the lease.
JOINT LEASE
This type of lease is most common for those living with roommates. In this type of lease, each party is responsible for contributing toward rent and adhering to the lease terms.
LEASE RENEWAL RATE
Also called “resident retention rate,” this metric determines the percentage of residents who renew their leases at the end of their original lease term/agreement. To measure a property’s lease renewal rate, simply divide the total number of residents who renewed their lease by the number of leases expiring, then multiply that figure by 100. For example, if 50/75 residents renewed their leases during a given period, the lease renewal rate would be (50/75) x 100 = 66.667%.
LEASE STRUCTURE
These are the cited terms and conditions of a rental agreement.
LEASING CONSULTANT
A leasing consultant is a real estate professional who liaises between property management leadership and residents. They typically handle resident-related aspects of a rental property.
OCCUPANCY RATE
The occupancy rate is the percentage of occupied units in a property relative to the total number of units available.
PROPERTY MANAGER
A property manager is a professional who oversees and manages a property’s daily operations. They ensure that the property is well-maintained and operates smoothly. This includes coordinating repairs and regular maintenance, managing budgets, and ensuring compliance with local laws and regulations.
RENT
Rent is a resident or tenant’s regular payment to a landlord for using their property or land.
RENT ROLL
This is a detailed report outlining the income from each unit/resident at a property. This report can include lease terms, current occupancy, base rent, ancillary income, and concessions.
RESIDENT RETENTION
Resident retention measures a property’s ability to keep its current residents/tenants.
RESIDENT SCREENING
Property management teams use a resident screening process to evaluate potential residents’ rental history, creditworthiness, and criminal record.
TURNOVER
In multifamily real estate, this is the rate at which residents/tenants leave a property and are replaced.
VACANCY
This is when a unit or space in a rental property is unoccupied. [1]
WORK WITH BAM CAPITAL FOR MULTIFAMILY REAL ESTATE INVESTING
BAM Capital partners with accredited investors who want to enjoy passive income and all the other benefits of multifamily private placement. As the private equity arm of The BAM Companies, BAM Capital has been focusing on buying the most profitable assets and staying disciplined in its investment thesis. BAM Capital’s investment strategy aims to create forced appreciation while mitigating investor risk. To date, the brand has successfully managed over $1.7 billion in assets across ~9,000 apartment units.
Remember that no investment is risk-free. Before making financial decisions, consult your investment advisor and schedule a call with a BAM Capital investment team member.
Disclaimer: All investments carry risk, including potential loss of capital. This content is for informational purposes only and is not financial, legal, or investment advice, nor an offer or solicitation to buy or sell any security. Consult an independent advisor for personalized guidance and contact BAM Capital for details on current offerings. BAM Capital and its representatives are not fiduciaries or investment advisors. The information provided is general and may not reflect individual financial goals. Any financial terms, projections, or forward-looking statements contained herein are hypothetical in nature and should not be interpreted as guarantees of future performance or safety. Such statements reflect BAM Capital’s opinion and are subject to market fluctuations, economic conditions, and investment risks. Past performance does not predict future results. BAM Capital and its affiliates do not guarantee the accuracy or completeness of this information. BAM Capital offers investment opportunities under Rule 506(c) of Regulation D exclusively for accredited investors as defined by the SEC. Verification of accredited investor status is required prior to participating in any investment.
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SOURCES:
[1] Pathways to Passive Wealth. (2025). “Glossary.” https://learn.bamcapital.com/glossary-terms/
