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Early takeover rate is the percentage of conversations where a leasing agent steps in before the automated assistant has reached a normal handoff point, tour booking, application, or lease-signing milestone. It is measured within a selected reporting period and excludes certain takeovers tied to tour attendance timing. A lower rate generally means teams are letting automation handle routine…
Learn moreEconomic occupancy is the share of a property’s potential rental income that is actually collected. It is usually calculated as actual rent collected divided by potential gross rent, and it reflects losses from vacancy, concessions, delinquency, and bad debt. Unlike physical occupancy, it shows whether occupied units are producing the revenue the property expected.
Learn moreEffective Gross Income (EGI) is the income a multifamily property is expected to collect from rent and other recurring revenue after accounting for real-world revenue losses such as vacancy, concessions, and collection losses. It helps translate gross potential rent—the maximum income at full occupancy with no losses—into a more practical revenue figure. EGI is commonly used as the income base…
Learn moreEffective rent is the average rent for a lease after concessions are spread across the lease term. It differs from the stated monthly rent because it accounts for incentives such as free rent. In multifamily operations, it helps teams compare lease value more accurately than face rent alone.
Learn moreElectronic lease documentation is the use of digital tools to prepare, review, sign, store, and retrieve lease agreements and related addenda. In multifamily operations, it lets applicants or residents review and sign lease documents on their own time, while staff verify completeness, countersign, archive the executed package, and update the system of record.
Learn moreAn electronic lease signature is a digital way for an applicant, resident, owner, or authorized property representative to review and sign a lease without printing or signing paper documents. In multifamily operations, it supports a digitally managed leasing process by letting residents sign at their own pace while staff track completion, countersign, and store the executed lease package. Teams…
Learn moreEmergency maintenance is a repair request that needs immediate attention because it may affect resident safety, property integrity, or basic habitability. In multifamily operations, this can include major leaks, power outages, gas concerns, broken exterior locks, or loss of required heating or cooling. These requests are prioritized ahead of routine work and may require after-hours, on-call,…
Learn moreAn emergency work order is a maintenance request that requires immediate response because it involves a threat to resident safety, habitability, security, or significant property damage. Common examples include active flooding, major leaks, power or heat outages affecting safety, suspected gas leaks, exposed wiring, failed locks after a break-in, or a critical building system failure. It should…
Learn moreAn Emotional Support Animal (ESA) is an assistance animal that provides therapeutic emotional support to a person with a disability. In housing, a qualifying ESA is not treated as an ordinary pet for lease-rule purposes, even though emotional support alone does not make an animal a service animal under ADA rules. Housing providers may need to evaluate ESA requests as reasonable accommodation…
Learn moreEPA 608 is the federal technician certification tied to Section 608 of the Clean Air Act. It is required for technicians who maintain, service, repair, or dispose of equipment that could release regulated refrigerants. In apartment operations, it commonly applies to HVAC work such as refrigerant charging, recovery, and service on air-conditioning systems.
Learn moreEquity multiple is a real estate return metric that shows total cash returned to investors compared with the equity they put in. It is calculated as total cash distributions ÷ total equity invested, including operating distributions and sale proceeds over the investment period. A 2.0x equity multiple means investors received twice their original equity back, but it does not show how quickly those…
Learn moreAn ERP system is integrated software that helps an organization manage core business processes in one connected system. In multifamily operations, it can connect financial workflows, property operations, procurement, reporting, maintenance, lease administration, and compliance data. The goal is to reduce reliance on separate tools that must be manually kept in sync.
Learn moreEscalation is the process of moving an issue to the next responsible person, team, or leadership level when it cannot be handled in the normal workflow. In multifamily operations, this often applies to urgent maintenance, delayed work orders, repeat resident complaints, or situations that need manager, vendor, or owner involvement. A good escalation process defines the trigger, who takes…
Learn moreAn escalation workflow is a defined set of rules for when an issue should move from automated or front-line handling to a staff member, supervisor, vendor, or other responsible party. It typically includes triggers such as urgency, missed response windows, repeated problems, resident hardship, or the need for approval. In multifamily operations, escalation workflows help route maintenance,…
Learn moreAn Estimated Award Date is the anticipated date when a property manager expects to choose a winning quote, bid, or vendor for a project. It is a planning date, not a guaranteed decision date, because approvals, budget questions, or scope changes can delay the award. The date can be updated when project timelines change.
Learn moreEviction is the legal process a housing provider uses to recover possession of a rental unit from a resident who will not leave voluntarily. It commonly follows issues such as nonpayment of rent, unresolved lease violations, or a holdover after the lease term, but the allowed reasons and notice rules vary by jurisdiction. In multifamily operations, eviction work usually includes notices, legal…
Learn moreEviction escalation is the step when a resident account moves from delinquency follow-up into formal eviction review or legal action. It typically happens after a required demand or eviction notice period expires and the resident has not resolved the balance or issue. At that point, teams confirm the account status, pause routine outreach, prepare documentation, and route the file for legal…
Learn moreEviction file preparation is the process of assembling, reviewing, and organizing the documents needed to support a legal eviction filing. It typically begins after eviction status is confirmed and the required notice period has expired. The file may include the lease, resident ledger, notice proof, communications, and any updates needed for attorney review or court.
Learn moreEviction handling is the set of operational steps a multifamily team follows when a resident may be removed from a rental home through a legal eviction process. It typically includes confirming that required notices have expired, checking whether the balance or lease issue has been resolved, deciding whether to proceed, controlling resident communications, and preparing accurate documentation for…
Learn moreEviction notice generation is the process of creating the required written notice for a resident who meets delinquency or lease-violation criteria. In multifamily operations, it typically includes checking the resident ledger, applying the correct notice timing and language, preparing the notice for approval or signature, and tracking whether it has been served. These notices are often the step…
Learn moreAn exemption request is a formal ask to be excused from a specific compliance requirement, such as a required document, or from a broader set of organizational requirements. The request is usually reviewed and either approved or declined by an authorized decision-maker. If the requester later decides to meet the requirement, the exemption can be canceled so the item returns to a submission-ready…
Learn moreAn expense type is a category used to classify a cost, invoice, or transaction for accounting and operational reporting. In multifamily operations, expense types commonly map to areas such as utilities, taxes, salaries and personnel, repairs and maintenance, insurance, marketing, and management fees. If an invoice is submitted without an expense type, some accounting workflows may place it into a…
Learn moreExposure is a forward-looking multifamily metric that shows how many units are vacant or likely to become vacant within a defined period. It is often expressed as a unit count or percentage, commonly using vacant units plus notice units, minus pre-leased units, divided by total units. Higher exposure signals more upcoming vacancy risk.
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