Search
14 terms
Header total is the invoice-level total shown in the invoice header or summary area, separate from individual line-item amounts. In AP review, the header total should match the gross invoice amount: the net line-item total plus tax. It is commonly used as a control check before an invoice is approved, exported, or posted.
Learn moreA high-rise is a multifamily apartment building that is generally eight to ten or more stories tall. High-rises typically rely on elevators, interior corridors, and shared or centralized building systems to serve residents across many floors. The exact story-count threshold can vary by industry source or data standard.
Learn moreA hold period is the expected length of time an owner plans to own a multifamily property before selling it. It runs from acquisition to disposition and is often tied to the investment business plan, renovation timeline, operating strategy, and market conditions. In value-add multifamily, the planned hold period is commonly several years, but the actual timing can change based on performance and…
Learn moreA holding deposit is money a prospective renter pays to reserve an apartment before the lease is signed, usually while application, documentation, and move-in steps are being completed. It is different from a security deposit: a holding deposit reserves the home before tenancy begins, while a security deposit is generally tied to damages or unpaid amounts after a lease is in place. Operators…
Learn moreHome automation in multifamily means using connected apartment devices—such as smart locks, thermostats, lights, and other in-unit technology—that residents or staff can control through apps or automated rules. In operations, it becomes more valuable when those devices connect with property systems and workflows for access, maintenance, turns, and resident communication. The goal is to reduce…
Learn moreHomeownership rates measure the share of occupied housing units that are owner-occupied. For multifamily teams, the rate is a demand signal: when fewer households buy homes, more households may remain renters. The rate can shift with affordability, mortgage rates, age, family formation, demographics, and public policy.
Learn moreHousehold income is the income counted for the people who live, or will live, in a rental unit. In housing programs and income reviews, it commonly includes anticipated annual income from applicable household members and may follow specific rules for what to include or exclude. In market-rate operations, the same concept is often used to compare rent to a resident household’s ability to pay.
Learn moreHousing affordability describes how manageable housing costs are relative to household income. In rental operations, it is often discussed through rent burden, such as renters paying 30% or more of gross income toward rent, rather than whether a property is part of a subsidized affordable housing program. Affordability varies by market because both rents and incomes differ, and it can be affected…
Learn moreA Housing Choice Voucher (HCV) is federal rental assistance that helps eligible households afford decent, safe, and sanitary housing. HUD funds the program, local public housing agencies administer it, and the household generally chooses an eligible rental unit rather than being assigned to a specific property. It is often referred to as the Section 8 voucher program.
Learn moreA housing deficit is a gap between the number of homes a market needs and the number of homes available or being produced. It can show up when new supply does not keep pace with household growth, when normal replacement of lost units is not met, or when vacancy is too low for rents and prices to stabilize. The deficit is often local and price-specific, meaning one market may have enough high-end…
Learn moreHousing vouchers are government rental assistance that help eligible households pay for housing, commonly through the Housing Choice Voucher program. In a typical voucher arrangement, the household pays a portion of rent and a public housing agency pays an approved subsidy to the housing provider. Vouchers may be tenant-based, where the household chooses an eligible unit, or project-based, where…
Learn moreHuman handoff is the process of moving a resident, prospect, or operational task from automation to a person when the issue needs judgment, empathy, or authority. In multifamily operations, it can also mean transferring a call or workflow from one team member to another with the right context. A strong handoff makes clear when escalation should happen, who receives it, and what information…
Learn moreHuman-in-the-loop is an AI design approach where a person reviews, approves, or intervenes before certain automated actions are completed. In multifamily operations, it is commonly used when a decision affects residents, applicants, safety, payments, or compliance. The goal is to let automation handle routine work while keeping human judgment and accountability in higher-risk or ambiguous…
Learn moreHVAC stands for heating, ventilation, and air conditioning. In an apartment community, it refers to the equipment and airflow systems that heat, cool, ventilate, and help control indoor comfort in units and common areas. Common HVAC components include air handlers, blowers, ductwork, vents, refrigerant lines, evaporator coils, and outdoor condensing units.
Learn more