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13 terms
The U.S. Department of Housing and Urban Development (HUD) is the federal agency that oversees housing programs and regulations. In multifamily operations, HUD is especially relevant for affordable or subsidized communities, fair housing compliance, management reviews, and program documentation. HUD also works with the Department of Justice on Fair Housing Act enforcement.
Learn moreUnderwriting is the process of evaluating risk before approving a rental applicant, loan, or property investment. In multifamily operations, it can mean reviewing applicant qualifications such as income, credit, rental history, and identity, or analyzing a property’s financials, rent roll, expenses, debt, and market assumptions to determine value and risk.
Learn moreA unit is an individual residential space within a multifamily property, such as an apartment, efficiency unit, or similar dwelling used as a resident’s primary home. Operations teams usually track each unit separately for occupancy, rent, market rent, net rent, inspections, and renovation activity. Depending on the reporting method, non-revenue units such as model, employee, maintenance, or…
Learn moreUnit attributes are structured details assigned to a rental unit, such as floorplan, bedroom and bathroom count, square footage, floor level, view, occupancy, availability, or media details. They help teams organize inventory, filter units, and match available homes to prospect needs. Because the same attributes may be used across properties, they should be named consistently and kept current.
Learn moreUnit availability is the up-to-date record of which apartment units are vacant now or expected to become vacant soon. It typically includes units with move-out notices, unit identifiers, pricing, future availability dates, and whether each unit is ready to show or lease. Teams update it as leases are signed, notices are received, and make-ready work is completed.
Learn moreA unit inspection is a documented walkthrough of an apartment home to check its condition, safety, and needed repairs. Teams use unit inspections for events such as move-in, move-out, annual checks, due diligence, or final turn approval. The inspection records findings by area or item, notes required corrections, and may trigger follow-up work orders.
Learn moreUnit mix is the breakdown of apartment types in a multifamily property, such as studios, one-bedrooms, two-bedrooms, and three-bedrooms. It describes both the number and percentage of each unit type within the total property. Operations teams use unit mix to understand demand, pricing, occupancy risk, and how the property serves different resident needs.
Learn moreA unit renovation is a planned upgrade to an apartment home, such as replacing finishes, fixtures, appliances, flooring, or systems, while generally keeping the same layout and structure. In multifamily operations, it is usually managed as a defined scope of work with labor, materials, scheduling, and quality checks. It can happen during a vacant unit turn or, with more coordination, while a…
Learn moreUnit turnover is the process of moving an apartment from one resident to the next after a move-out. It usually includes inspection, cleaning, repairs, painting or touch-ups, and final checks before the next resident moves in. In many teams, the physical preparation work is also called a make-ready or turn.
Learn moreUnits covered is a leasing metric that counts how many apartment units are covered by an active lease or a future lease. It is closely related to leased units or leased percentage, calculated as leased units divided by total units. Operations teams use it alongside physical occupancy because a unit can be vacant today but already covered by an approved future lease.
Learn moreAn unlawful detainer is a court action used to regain possession of a rental unit when a resident or other occupant is alleged to be staying without a legal right. It is commonly tied to nonpayment of rent, an uncorrected lease violation, an expired or terminated tenancy, or failure to comply with a notice to vacate. The owner or operator generally must complete required notices and win the case…
Learn moreAn unqualified reason is the documented explanation for why a prospect or applicant does not meet a property’s stated qualification standards. It can apply during prequalification, tour scheduling, or application review, and should tie back to clear criteria such as income, move-in timing, rental history, or willingness to complete required steps. The reason should be specific enough for teams to…
Learn moreAn unresponsive resident is a resident who has not replied after expected reminders or outreach about an operational issue, such as delinquency, maintenance access, or required confirmation. In multifamily operations, the term usually signals that routine messages have not resolved the need and a documented human follow-up may be required. Teams should also check communication restrictions, such…
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