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Property Management and Rental Terms Glossary

Moderate Housing: This type of housing is one that is overseen by a government or state agency with the ultimate goal of subsidizing and controlling rent for people who meet a certain criteria.

Luxuries: Non-surprising and unexpected elements in or on the property that improve the attractiveness or estimation of the property.

Housing: A multi-family dwelling intended to accommodate different people or groups of families within the same building.

Consolidation: A skilled field that buys and offers property for others with a specific end goal of earning a commission. This professional must be licensed and qualified to practice in the state in which he resides.

Apartment complex/Condominium: A multi-unit construction that includes single units claimed by its occupants. The normal components of this type of building are by all the owners inside the town house.

Routine housing: This type of accommodation matches or adapts to the proportion of the business sector, or the satisfactory criteria of the location of the area.

Co-Signer: An additional endorsement on a rental or home loan that is used as part of the application to verify the identity of the owner of the guide or to provide a certain level of security to the borrower or landlord.

Duplex (House): A house that was intended to accommodate two different people or families within the same house. For example, a house with upstairs for one family and downstairs for another family is considered a duplex.

Housing Opportunity Area: The door is open to all subjects in America who have the capacity to live in separate housing groups without regard to race, sexual orientation, age, nationality, family status or disability.

Ethics/Professionalism: Adherence to good standards and rules may be the most important factor when managing talent.

Eviction: A process by legal means with the ultimate goal of evicting a man from his home for alleged breach, whether for non-payment of rent/contract or on the off chance that they have violated some other form of understanding. for example, a combination of negative effects.

Fair Housing Act: This law is a government statute and was enacted to stop discrimination in housing based on race, age, color, disability, sex, religion, national origin, and family status.

Housing Assistance Payment Agreements (HAP) (PDF): The HAP Agreement is used to ensure that those under the voucher program can receive zone 8.

Housing: A living arrangement in which people live.

Housing and Urban Development (HUD): HUD’s mission is to build affordable housing without segregation; promoting group improvement; and expand home ownership rates.

Payment Levels: These are cut-off points set by management that are used to set credit limits and flexible accommodation types.

Toxic Paint Notice: Requirements that went into effect in 1996 to ensure that families and individuals are alerted to homes containing toxic paint.

Lease: An oral or written agreement made between a landowner and his occupant that provides the occupant with the privilege of discretionary ownership of the property for a specific period of time. Generally, for leases that are longer than one year, the claim must be in collection.

Lease Option: A statement that allows the tenant the option to purchase the property they are renting until the end of the lease term, or sometime during the lease term.

Lease Renewal: Renewal of the lease after the lease term has expired.

Lease Term: The length of time between the landlord and the tenant during which the tenant will own the property.

Lessee: The person who has agreed to a lease term.

Lessee: The owner who has agreed to the lease term.

Low Income Tax Credit (LITC) Properties (PDF): These types of properties provide owners with a special measure of cost credits against renting to qualified occupants as determined by the Office of Justice, HUD and the IRS.

Support: Ownership and consideration of property.

The Individuals with Disabilities Act: A demonstration that insurance opens doors for the mentally retarded.

Pre-Qualification – This is the main stage in the presentation procedure where the most intensive development for the candidate is addressed.

Features: A small amount of land and permanent equipment, for example, buildings that can be combined.

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