Glossary of M terms

Expand your property management knowledge starting with the letter M.

An image of the letter M, representing this glossary category

M

Mitigation of Damages

Learn about the importance of mitigation of damages in rental property management, including strategies for minimizing financial loss and ensuring fair treatment in tenant disputes.

Multi-family Property

Multi-family property is relevant in property management, particularly when dealing with residential buildings that house multiple tenants under one roof.

A move-in/ move-out inspection is Important for documenting the condition of a rental property at the beginning and end of a tenancy, which helps in assessing any damages or changes that may affect security deposits.

Market Rent

Market rent is crucial for setting competitive rental rates, it reflects the current rent levels that could be expected in the open market for similar properties.

Management Fee

A management fee directly relates to the operational costs of property management, covering the compensation for managing the day-to-day tasks of a property.

Maintenance

Maintenance is fundamental to property management, encompassing the necessary actions to keep a property in good condition or to restore it to a functioning state.

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