Glossary of Multifamily Marketing Technology

WORD OF THE DAY

Metropolitan Statistical Area (MSA)

A geographical region with high population density.  As a metric, it is used to identify the real estate market associated with a statistical urban area, and is calculated by the Office of Management and Budget and utilized by Federal agencies including the U.S. Census Bureau.

Source: Danter
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> Metropolitan Statistical Area (MSA)

WORD OF THE DAY

Multifamily Tours

Real estate marketing tool that incorporates high-quality video tours of multifamily properties, used to present a property to prospective buyers and/or secure investment funds.  Multifamily tours are used with apartments, condos, timeshares, luxury residences, senior living, and low-income housing projects.

Source: National Real Estate Investor
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> Multifamily Tours

WORD OF THE DAY

Net Absorption

Measure of the total amount of occupied space (in square-footage) less the total vacated space in a rental property (not including sublets, pre-leases or lease renewals) during the applicable rental period.

Source: Danter
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> Net Absorption

WORD OF THE DAY

Occupancy Rate

The calculation used by real estate investors to determine cashflow and the viability of the property based on the number of tenants. High occupancy rates reveals a stable base of tenants and can prompt a rise in rent by the landlord.  Low occupancy rates can be improved through rebranding, strong marketing and advertising.

Source: Investopedia
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> Occupancy Rate

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Townhouse

Type of attached multifamily unit defined as a two- or three-story dwelling that shares a common wall and/or adjacent walls with the other units.

Source: Danter
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> Townhouse

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Unit Type

The classification for residential dwellings.  Includes single-family and multifamily housing, further classified by size (1,2, or 3+ bedrooms) and unit structure type (e.g., apartment, condominium, duplex, townhouse, etc.), and is used to calculate rent.

Source: Danter
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> Unit Type

WORD OF THE DAY

Vacancy Rate

The calculation used by real estate investors to determine the value of a rental property.  High vacancy rates indicate a property is undervalued or undesireable.  Low vacancy rates equate to more prosperous real estate properties with owners enjoying lower tenant-turnover rates and increased leverage in raising rental prices.

Source: Investopedia
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> Vacancy Rate