Search
15 terms
Natural Language Processing (NLP) is a branch of AI that helps computers understand, interpret, and generate human language. In multifamily operations, it is commonly used to interpret prospect or resident messages, identify intent, and produce an appropriate response. NLP can work with written text and, when paired with speech technology, spoken conversations.
Learn moreNet amount is the amount before tax is added, commonly used when reviewing invoice line items. The gross amount is the net amount plus tax, so invoice line items should add up to the net amount and the invoice header should match the gross total. Because “net” can mean different things in financial reporting, operations teams should confirm the context before approving or analyzing the number.
Learn moreNet Cash Flow is the money left after property income is reduced by the cash outflows required to operate and finance the asset. In multifamily reporting, it is commonly calculated from NOI and then subtracts items such as debt service, capital expenditures, and replacement reserves. Because conventions can vary, teams should confirm what is included before comparing properties or periods.
Learn moreNet in migration is the number of people or households moving into a geographic area minus the number moving out during a set period. A positive number means the area gained residents through moves; a negative number means more residents left than arrived. For multifamily teams, it is a demand signal that should be reviewed alongside jobs, affordability, household growth, vacancy, and rent trends.
Learn moreA net lease is a lease where the tenant pays base rent plus some or all property expenses, such as property taxes, insurance, utilities, maintenance, or common-area maintenance. Net leases are often described as single net, double net, or triple net depending on which expenses the tenant must pay. In multifamily operations, they are less common for standard apartment homes but may apply to…
Learn moreNet Operating Income (NOI) is a property’s income after subtracting normal operating expenses. It excludes mortgage debt service, capital expenditures, depreciation, and amortization. In multifamily, NOI is a core measure of property performance and is commonly used in valuation.
Learn moreNet operating income (NOI) is a property’s income after subtracting normal operating expenses. In multifamily, it is commonly calculated as effective gross income minus total operating expenses, before debt service and capital expenditures are deducted. NOI is a core measure of how well a property’s day-to-day operations are producing income.
Learn moreNet Promoter Score (NPS) is a customer loyalty metric based on asking residents how likely they are to recommend a community or property manager on a 0–10 scale. Residents who answer 9 or 10 are treated as promoters, 7 or 8 as passive, and 6 or below as detractors. The score is reported on a -100 to +100 scale and is best used as a broad relationship signal, not a full explanation of resident…
Learn moreNet rent is the rent amount after agreed deductions from a gross rent figure. In market-study terminology, it can mean gross rent minus tenant-paid utilities; in property financial reporting, related net rental income often means rent revenue after concessions, vacancy or collection loss, bad debt, and non-revenue units. Because usage varies, teams should document exactly which deductions are…
Learn moreNet Rent to Income Ratio compares a household’s rent burden using net rent, meaning rent plus charges, against the household’s income. To calculate it, divide net rent by income for the same time period, such as monthly net rent divided by gross monthly income, and express the result as a percentage. It is a unit-level affordability and risk indicator, but it depends on having income data entered…
Learn moreNon-renewals are lease outcomes where a resident or property owner does not continue the lease for another term. In multifamily operations, a non-renewal typically triggers a Notice to Vacate process, ends renewal follow-up, and moves the resident into the move-out and unit-turn workflow. Notice timing and rules can vary by state, market, and tenancy length.
Learn moreNormal wear and tear is the expected deterioration that happens when a rental home is used respectfully and for its intended purpose. In multifamily operations, it commonly includes items like faded paint, small nail holes, worn carpet from walking, loose grout, or fixtures that have aged through ordinary use. It is different from resident-caused damage, which usually involves abuse, negligence,…
Learn moreA Notice to Pay or Quit is a formal notice sent to a resident after rent is past due, requiring them to either pay the overdue amount within a legally specified period or move out. It is commonly the first step in a nonpayment eviction process if the resident does not cure the balance or vacate. The required timeline, wording, delivery method, and escalation rules vary by jurisdiction, so teams…
Learn moreA Notice to Vacate (NTV) is a formal written notice used to end a tenancy by a specified date. In multifamily operations, it most often means a resident has indicated they will not renew and intends to move out. The notice may capture details such as the move-out date, reason for leaving, forwarding address, and required signatures.
Learn moreNSF means non-sufficient funds. In multifamily operations, it usually refers to a rent or fee payment—such as a check or ACH payment—that is returned or rejected because the resident’s bank account does not have enough money available. An NSF event may also trigger a returned-payment fee, depending on the lease, policy, and applicable law.
Learn more