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A2L refrigerants are an ASHRAE safety class of HVAC refrigerants with low toxicity and lower flammability. They are being phased into newer air-conditioning and heat-pump equipment as lower-global-warming-potential replacements for older refrigerants such as R-410A. Because they are mildly flammable, they require compatible equipment and updated handling procedures.
Learn moreAbsorption is the change in occupied multifamily units over a set period, often used to show how quickly available units are being leased. In new multifamily supply, a unit is considered absorbed once it has been initially rented or sold and is no longer available. Positive absorption indicates occupied units are increasing; negative absorption indicates occupied units are declining.
Learn moreAbsorption rate is the pace at which available or newly completed apartment units are leased over a set period, such as a month or quarter. It is often expressed as a percentage of available units leased or as units leased per month. In multifamily operations, it helps teams understand whether renter demand is keeping up with available supply.
Learn moreAccess control is the set of rules, workflows, and technology that determines who can enter specific spaces, when they can enter, and how access is granted or removed. In multifamily properties, it can cover buildings, units, amenities, package rooms, garages, gates, elevators, staff areas, and vendor access. It often uses electronic locks, codes, fobs, cards, mobile credentials, visitor passes,…
Learn moreAccessory Dwelling Units (ADUs) are secondary homes on the same parcel as a primary residence or multifamily property. They have their own living, sleeping, eating, cooking, and sanitation facilities, and may be detached, attached, or created by converting existing space. Local rules often determine where ADUs are allowed and what limits apply, such as parking, setbacks, unit size, and review…
Learn moreAccounts Payable (AP) is the money a property management company owes to vendors, suppliers, and contractors for goods and services already received. In multifamily operations, AP also refers to the process or team that receives invoices, codes expenses, routes approvals, pays vendors, and records those payments. Common AP expenses include maintenance work, utilities, landscaping, insurance,…
Learn moreAccounts receivable (AR) is money owed to a property that has been earned or charged but not yet collected, such as unpaid rent, fees, reimbursements, or move-out balances. In multifamily operations, AR is tracked as an asset, but it is not usable cash until payment is received. Teams manage AR by reviewing ledgers, verifying payments and credits, resolving disputes, and following consistent…
Learn moreAn acquisition is the process of purchasing a property or property-related business. In multifamily, it can also refer to the team responsible for finding, evaluating, and closing those purchases. After closing, operations teams often support the transition by setting up systems, validating data, staffing the property, and moving the asset into steady-state operations.
Learn moreAn active resident is a current resident associated with a property, typically after an approved applicant has moved into the resident stage. In plain terms, it is someone who occupies a rental unit under an agreement with the owner or landlord and is treated as current for day-to-day operations such as communications, maintenance, and move-out planning.
Learn moreAn additional insured is a person or organization added to another party’s insurance policy so they may receive liability coverage for certain claims. In multifamily operations, this is often used when a property owner, property manager, or related entity needs to be protected under a vendor’s or owner’s policy for work tied to a specific property or job. The exact protection depends on the…
Learn moreAn Additional Insured COI is a certificate of insurance from a vendor or contractor that shows active insurance coverage and indicates that the property owner, manager, or another required entity is included for certain coverage purposes. The COI summarizes key policy details, but additional insured protection generally depends on the required policy endorsement, not just being named as a…
Learn moreAdditional insured entities are people or organizations that a vendor, contractor, or other third party must add to its liability insurance for certain claims tied to that party’s work. In multifamily operations, these entities often include the property owner, landlord entity, or property management company, and the requirement can vary by property, contract, RFQ, or scope of work. Teams…
Learn moreAn adjustment is a documented change made after an amount, setting, allowance, or process has already been set. In multifamily operations, adjustments can affect rent calculations, utility allowances, concessions, income reporting, or workflow settings. The key is that the change should be traceable, approved when required, and reflected consistently in reporting.
Learn moreAdmin in multifamily operations usually refers to the back-office work that keeps a property running after leasing, such as payments, accounting, deposits, move-ins, move-outs, collections, and renewals. It can also refer to system-level responsibilities, such as managing users, roles, property access, and integrations.
Learn moreAdvance notice is the lead time required before a property team takes an action, schedules an appointment, or makes a change that affects a resident or prospect. In multifamily operations, it can apply to occupied-unit tours, unit entry, rent increases, move-in reminders, or legal notices. The required amount of notice may be set by company policy, scheduling rules, lease terms, or local law.
Learn moreAn adverse action notice is a required communication sent when a rental decision is unfavorable to an applicant because of information in a consumer report, such as a credit, criminal, eviction, or background screening report. In multifamily operations, this can apply to a denial, a conditional approval, a higher deposit, a co-signer requirement, or another less favorable term. The notice…
Learn moreThe Affordable Connectivity Program (ACP) was an FCC benefit program that provided monthly discounts on internet service and devices for eligible households. For multifamily operators, it was most relevant in affordable and lower-income communities, where broadband subsidies can help close gaps in adoption and affordability. Property-wide internet arrangements, such as bulk billing or managed…
Learn moreAffordable housing is rental housing with rules that limit rents and/or restrict eligibility based on resident income. It is often tied to government programs, subsidies, vouchers, or tax credits, and many programs use Area Median Income (AMI) thresholds or affordability standards such as housing costs not exceeding 30% of gross income.
Learn moreAn affordable housing qualification workflow is the repeatable process used to determine whether an applicant household meets program rules before move-in. It typically includes application intake, document collection, income and eligibility verification, program-specific calculations, compliance review, decision recording, and lease handoff. The workflow may include automation for reminders,…
Learn moreAn affordable prospect is a prospective renter in the leasing pipeline who is being evaluated or managed for an affordable housing opportunity. Unlike a standard market-rate lead, this prospect may require eligibility review, such as income or age checks, before moving forward. Teams may track these prospects by status, including qualified, unqualified, in progress, or not started.
Learn moreAfter-hours leads are prospective renter inquiries that arrive when a community’s leasing office is closed. They may come through channels such as phone, email, SMS, chat, or a property website, and they are still part of the leasing funnel even if no on-site team member is available to respond immediately. In reporting, after-hours activity is typically measured against the community’s…
Learn moreAfter-hours maintenance is the process for receiving, triaging, and routing resident maintenance issues outside normal office hours, including evenings, nights, weekends, and holidays. It separates true emergencies—such as threats to safety, property integrity, or habitability—from requests that can wait until the next business day. The process often relies on on-call coverage, escalation rules,…
Learn moreAge ineligible means a prospect or household does not meet the age-related occupancy rules for a specific housing program or property type. In affordable or elderly-designated multifamily housing, this can include cases where the required tenant or co-tenant is not old enough, or does not meet an allowed disability-based exception. When this happens, the prospect may be marked as unqualified for…
Learn moreAn agent-level calendar is a scheduling setup where tours are booked with specific leasing agents instead of only against a property or building calendar. It uses each agent’s shifts, assigned communities, availability, and scheduling priority to decide who can take an appointment. This helps teams manage coverage across one or more communities while reducing double-booking.
Learn moreAgentic AI is an AI system that can take initiative, make decisions, and complete tasks toward a defined goal without step-by-step human instructions. In property operations, it goes beyond answering questions by planning next steps, coordinating handoffs, updating systems, and escalating exceptions when needed. It should operate within clear permissions, approvals, audit trails, and human review…
Learn moreAI adoption is the process of putting artificial intelligence into real operating workflows, not just testing it in isolated pilots. In multifamily, this can include using AI for leasing, resident communication, maintenance intake, delinquency outreach, reporting, or other recurring tasks. Strong adoption also involves change management, data readiness, clear ownership, and guardrails so teams…
Learn moreAn AI agent is software that can understand a goal, decide the next steps, and take approved actions across connected systems—not just answer a question. In multifamily operations, an AI agent can support defined workflows such as leasing communication, tour scheduling, resident requests, reminders, and escalation to onsite teams. It works best when the workflow has clear rules, accurate data,…
Learn moreAn AI answering service is software that uses conversational AI to answer inbound calls and, in some cases, texts or emails from residents and prospects. In multifamily operations, it can handle routine questions, capture maintenance requests, support leasing inquiries, and route issues to a human team member when judgment or follow-up is needed. It is often used to extend coverage after hours,…
Learn moreAI escalations are the rules and handoffs an AI assistant uses when a resident or prospect issue needs a different channel, a staff member, or an urgent response. In multifamily operations, they help route leasing, maintenance, payment, emergency, and lockout situations based on predefined policies instead of ad hoc judgment. A good escalation process keeps the AI informed while giving teams…
Learn moreAn AI hallucination happens when an AI system gives a false, fabricated, or unsupported answer as if it were true. In multifamily operations, this can happen when an AI tool lacks access to accurate property data or predicts a plausible response instead of verifying the facts.
Learn moreAn AI handoff is the point when an automated leasing, resident, maintenance, or renewals conversation is routed to a live team member. It usually happens because the issue is too complex for automation, the resident or prospect needs human help, or company settings require escalation. A good handoff includes enough conversation context for the team member to respond without making the person…
Learn moreAn AI leasing assistant is software that helps handle prospective renter communication across channels such as phone, text, email, chat, and listing-site leads. It can answer common leasing questions, capture lead details, qualify prospects, schedule tours, send follow-ups, and route complex or policy-sensitive conversations to a human team member. In multifamily operations, it is best treated as…
Learn moreAI-guided tours are self-guided apartment tours supported by an automated virtual host. They typically combine online scheduling, identity verification, self check-in, digital access, in-tour guidance, and post-tour follow-up so prospects can tour with less onsite staff involvement.
Learn moreAn amenity is a property feature, facility, or service that adds comfort, convenience, or value beyond basic housing. In multifamily communities, amenities can be shared spaces like pools, fitness centers, clubhouses, and pocket parks, or unit-level features assigned to specific floor plans or apartments.
Learn moreAn amenity asset is a shared property feature or piece of equipment that residents use beyond the apartment itself, such as a pool, fitness center, grill, fire pit, clubhouse, parking system, or lobby feature. In operations, treating an amenity as an asset means it is tracked, maintained, inspected, and scheduled for service over its lifecycle rather than handled only when something breaks.
Learn moreAmenity booking is the process residents use to reserve shared community spaces, such as clubhouses, fitness rooms, pool areas, or event rooms. In multifamily operations, it usually includes checking availability, submitting or confirming a reservation, applying community rules, and managing cancellations, fees, deposits, or staff approvals. Digital amenity booking moves this work out of…
Learn moreAmenity reservations are the process residents use to view availability and book shared community spaces, such as pools, fitness rooms, clubhouses, or event areas. In multifamily operations, this is often handled through an online or mobile workflow that can show availability, manage requests, and reduce manual scheduling by onsite teams. A well-run reservation process helps residents understand…
Learn moreThe Americans with Disabilities Act (ADA) is a federal civil rights law that protects people with disabilities, including people with physical or mental impairments that substantially limit major life activities. For multifamily communities, ADA Title III generally does not cover strictly residential areas, but it can apply to public-facing spaces within a property, such as a rental office or an…
Learn moreAnalytics is the practice of collecting, organizing, and examining data so teams can understand performance and make better decisions. In multifamily operations, analytics can include dashboards, conversion metrics, cost metrics, forecasting, anomaly detection, and recommendations based on historical patterns. It helps turn day-to-day property, leasing, maintenance, marketing, and financial…
Learn moreAncillary income is revenue a multifamily property or management operation earns in addition to base rent. It is often tracked as other revenue and can include amenity fees, pet fees, late fees, parking, vending, and laundry income. Operators should keep it separate from rent collections so performance reporting shows where non-rent revenue is coming from.
Learn moreAncillary revenue is income a multifamily property earns beyond base rent. It can include parking, storage, pet charges, amenity fees, late fees, vending, laundry, and other non-rent sources. Operators typically track it separately from rent so they can understand which services, fees, or programs are contributing to property income.
Learn moreAnnual Income is the yearly household income recorded for a resident or unit in multifamily reporting. It is often reviewed alongside rent, market rent, net rent, and rent-to-income ratios to understand affordability and leasing risk. If income data is not entered, reports may omit the value rather than display it as zero.
Learn moreAP stands for accounts payable: the work of receiving, reviewing, approving, and paying bills owed to vendors and service providers. In multifamily operations, AP is part of financial oversight and property management, alongside responsibilities like rent collection, budgeting, maintenance, and compliance. AP automation refers to using connected workflows to reduce paper-based invoice processing…
Learn moreAn AP automation system is software that digitizes and streamlines accounts payable work, from invoice receipt and coding through approvals and payment. In multifamily operations, it helps teams manage high invoice volume across properties by replacing paper-based or manual workflows with a centralized process. Many systems also support invoice review, vendor details, cost allocation, reporting,…
Learn moreAn AP inbox is a centralized digital mailbox or intake queue for accounts payable documents, especially vendor invoices. It helps teams receive invoices in one place, separate invoices from statements or questions, and move each item into review, coding, approval, and payment workflows. In multifamily operations, it is often used to standardize invoice intake across properties and vendors.
Learn moreAn AP system is the process and software used to manage accounts payable: the money a company owes vendors, suppliers, and creditors for goods and services received. In multifamily operations, it typically supports invoice intake, coding, approvals, payments, and recordkeeping across properties. AP systems may include automation to reduce manual tasks, improve data accuracy, and help accounting…
Learn moreAn apartment community is a multifamily rental property or development that includes apartment homes, shared areas, surrounding grounds, residents, and property staff. In operations, it usually refers to the property-level site where leasing, maintenance, resident relations, vendor coordination, and make-ready work are managed. The term is broader than a single building because it includes the…
Learn moreThe apartment industry is the part of rental housing focused on apartment communities, commonly meaning buildings with five or more housing units. It includes the firms and teams involved in owning, developing, financing, managing, leasing, and maintaining those communities. For operations leaders, the term covers both corporate functions and the on-site and off-site teams that keep apartment…
Learn moreAn apartment locator is a licensed rental-housing intermediary who helps prospective renters find apartment communities that match their needs, budget, location preferences, and move-in timing. Unlike an onsite leasing agent who represents one community, a locator may search across multiple properties and help coordinate next steps in the leasing process.
Learn moreAn applicant is a prospect who has started or submitted a rental application for an apartment home. In multifamily operations, the applicant stage typically includes collecting required information, applying published screening criteria, verifying qualifications, and moving the person toward approval, denial, or lease execution.
Learn moreAn applicant portal is a secure online place where a prospective renter can complete and submit a rental application at their own pace. It typically collects applicant details, documents, fees, and information such as vehicles, pets, guarantors, income, identification, employment, and references. In more automated workflows, it can connect application intake with verification, screening, status…
Learn moreApplicant screening is the process of reviewing a complete rental application against documented approval criteria. In multifamily operations, it commonly includes credit, criminal, eviction, rental history, identity, and income checks, followed by an approval, conditional approval, or denial decision. The process should also capture reason codes and trigger required notices when applicable.
Learn moreAn application is the formal rental request a prospective resident submits when they want to lease an apartment. In multifamily operations, it typically sits between the prospect stage and the lease stage, and teams may manage applicant details, request additional information, review screening inputs, and move approved applicants toward lease signing.
Learn moreApplication approved is the leasing status used when the organization has approved a prospect’s rental application. It marks the point after application review when the team can move the prospect into approval communication, lease steps, and move-in coordination. The approval should reflect the organization’s policy and any legal or compliance requirements tied to applicant review.
Learn moreAn application fee is a one-time charge a prospective resident pays when submitting a rental application. It is typically used to cover costs tied to processing the application, such as credit checks, background checks, identity or fraud review, and administrative work. Policies and legal requirements vary by jurisdiction, so teams should apply the fee consistently and disclose it clearly.
Learn moreApplication fraud is the use of false, misleading, fabricated, or stolen information during the rental application process to gain housing approval. In multifamily operations, it can include fake IDs, altered pay stubs or bank statements, inflated income, identity manipulation, or synthetic identities.
Learn moreApplication management is the process of receiving, tracking, reviewing, and moving rental applications from first inquiry through approval, denial, or lease signing. In multifamily operations, it typically connects prospect information, screening steps, resident communications, move-in workflows, and reporting in one coordinated process.
Learn moreAn Application Programming Interface (API) is a set of rules that lets different software systems communicate and share data. In multifamily operations, APIs commonly help connect systems for leasing, accounting, maintenance, payments, screening, reporting, and resident services so teams do not have to re-enter the same information in multiple places.
Learn moreAn application status is the label that shows where a renter’s application is in the leasing process. Common statuses indicate whether the applicant has started, submitted, been approved, been declined, withdrawn, or moved on to lease steps. In multifamily operations, these statuses help teams know what action is needed next and who owns the follow-up.
Learn moreAppointment hours are the specific days and time ranges when a community, team member, or service provider is available for scheduled visits or work. In multifamily operations, they turn general availability into bookable slots for tours, showings, move-in meetings, or vendor appointments. They work best when paired with current calendars, office hours, and blackout times for periods when staff…
Learn moreAn appraisal is an estimate of a multifamily property's market value prepared by a qualified appraiser. It typically considers the property's income, expenses, market conditions, and comparable properties. For affordable housing, the appraisal may also evaluate restrictions, competing affordable supply, occupancy trends, transit access, and similar affordable-property comparables.
Learn moreAn approved applicant is a rental applicant whose complete file has been reviewed against the property’s documented screening criteria and received an approval decision. This status typically comes after identity, income, rental-history, and other required checks are completed. Once approved, the applicant moves into next steps such as paying required deposits, completing lease documents, and…
Learn moreArtificial Intelligence (AI) is technology that uses computers, data, rules, and algorithms to perform tasks that would usually require human input. AI systems can detect patterns, answer questions, generate recommendations, make predictions, or automate actions. Common AI approaches include machine learning, deep learning, large language models, generative AI, and agentic AI.
Learn moreAsking rent is the rent amount a property advertises or quotes for an available apartment before any concessions, discounts, or negotiated changes. In multifamily operations, it is similar to street rent: the current market-facing rent for a unit, rather than the rent an existing resident is already paying. Asking rent is not always the same as effective rent, because effective rent reflects the…
Learn moreIn multifamily operations, an asset is a property or a significant property item the organization is responsible for operating, maintaining, and protecting. At the property level, asset oversight includes the administrative, financial, and physical condition of multifamily properties. At the site level, a fixed asset may be a big-ticket item with a warranty, maintenance history, or recurring…
Learn moreAsset management is the strategic oversight of multifamily real estate investments to improve financial performance and long-term property value. It looks beyond daily site operations to track whether each property is meeting its business plan, including revenue, expenses, capital projects, approvals, and reporting needs. In multifamily, asset management connects ownership goals with…
Learn moreAn asset manager is the person responsible for protecting and improving the financial value of a real estate investment. In multifamily, they focus on property performance, investment returns, capital improvements, and strategic decisions across the hold period. They typically work with property managers and regional teams, who handle more of the day-to-day operations.
Learn moreAn asset owner is the individual or organization that holds an ownership interest in a real estate property. In multifamily, an asset owner may manage the property directly or hire a third-party property management company to handle daily operations. The owner’s goals influence operating strategy, reporting needs, vendor requirements, and long-term value decisions.
Learn moreAsset performance is a way to measure how well a multifamily property is meeting its financial and operational goals. It looks at indicators such as net operating income (NOI), occupancy, leasing activity, collections, and the property’s physical condition. Strong asset performance tracking connects day-to-day operating signals with financial results so leaders can see where attention is needed.
Learn moreAsset tagging is the practice of giving a physical property item a unique label, such as a QR code or RFID tag, and connecting that label to a digital asset record. In multifamily operations, tagged assets can include equipment, furnishings, fixtures, and other high-value property items. The digital record typically helps teams find key details like location, warranty information, maintenance…
Learn moreAn assistance animal is an animal that helps a person with a disability by doing work, performing tasks, providing assistance, or offering emotional support that lessens disability-related effects. It is not considered a pet in housing decisions. Residents may request an assistance animal as a reasonable accommodation to a property’s pet rules, including no-pet policies or pet fees.
Learn moreAn assistance/service animal policy is a community’s written process for handling animal-related accommodation requests from residents or applicants with disabilities. It explains how teams distinguish assistance or service animals from ordinary pets, what verification steps may apply, and how pet rules, fees, vaccines, registration, or licensing requirements are handled. The goal is to apply…
Learn moreAn audit trail is a chronological record that shows who took an action, what changed, and when it happened. In multifamily operations, audit trails can apply to access events, maintenance records, accounting entries, staffing changes, or system configuration updates. A strong audit trail helps teams reconstruct the history of an event without relying on memory or informal notes.
Learn moreAuto-assignment is the use of predefined rules or AI to route maintenance work to the right technician or vendor without a coordinator manually choosing every assignee. In multifamily operations, assignments can consider factors such as technician skills, workload, proximity, priority, shift status, and building-specific coverage. Supervisors can still review, adjust, or override assignments when…
Learn moreAutomated applicant screening is the use of software to help evaluate rental applicants against a property’s screening criteria. It can verify information such as identity, income, credit, background, eviction history, or rental history and return results, flags, or recommendations faster than a fully manual review. Operators still need consistent criteria, documentation, and appropriate human…
Learn moreAutomation rate is the percentage of a defined workload—such as messages, work orders, or workflow steps—completed automatically instead of by a team member. In leasing, a common version is message automation rate: the share of text-based conversations fully handled without agent intervention. Because the metric depends on scope, teams should define exactly what is counted before comparing…
Learn moreAutopay is a preauthorized payment setup that automatically pays recurring rent or lease charges from a resident’s selected payment method. In multifamily operations, it may be configured to pay the full monthly balance or a fixed amount each month. Because balances can change with parking, deposits, late fees, or other variable charges, teams should make clear how autopay amounts are calculated…
Learn moreAn award project step is the point in a procurement workflow when an operations team selects the vendor or contractor that will receive the work. It usually happens after reviewing quotes, ratings, and compliance status, and it may require confirmation before the selected vendor is notified. If the selected vendor is not yet compliant, the team may need to acknowledge that issue and ensure…
Learn moreAn awarded vendor is the vendor selected to receive the work, contract, or agreement after a quote, RFQ, or bidding process. In multifamily operations, this status marks the shift from evaluating options to preparing the selected vendor to perform the work. If the vendor is missing required compliance items, teams may need to confirm the decision and collect required documents before work can be…
Learn moreAwarding a quote is the step where a property team selects a service provider from the quotes received for a request and confirms that selection. In multifamily operations, this usually happens after reviewing price, scope, ratings or qualifications, and any compliance status. Once awarded, the selected provider is notified and may need to complete compliance requirements before work begins.
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