Learn · DealProp
Plain-language definitions of the vocabulary every rental operator needs. Built for landlords running 5 doors or 500 — the words mean the same thing at any scale.
The IRS form a landlord files reporting payments of $600 or more to a vendor over the course of a calendar year. Required by law. Painful if you skip it.
The tax distinction between money spent improving a property (capitalized and depreciated over years) and money spent maintaining it (deducted in the year of the expense). Get this wrong and your CPA gets unhappy.
The actual money your rental properties produce after all operating costs, before debt service and depreciation.
The written rules governing when and how a landlord charges a fee for rent paid past its due date. A clear policy is a kindness; an inconsistent one is a lawsuit risk.
The documented condition assessment at the start and end of a tenancy. The single most effective tool for preventing security-deposit disputes — when it is done well.
Annual rental income minus operating expenses. The standard metric for evaluating a rental property's earning power before financing.
A formal written notice that a tenancy is ending — issued by tenant or landlord, with timing rules that vary by jurisdiction. Missing the deadline is costly.
Money the property owner takes out of the rental business for personal use. Distinct from a salary, distinct from a distribution, and treated differently for tax purposes.
A snapshot of every active lease in a portfolio — tenant, unit, rent amount, lease term, and status.
Money a tenant pays at the start of a lease to secure performance. Held separately from operating funds in many states.
A per-tenant running record of every charge billed and every payment received. The source of truth for whether a tenant is current, late, or owed money.
The percentage of rentable units that are not generating rent in a given period. The single number that tells you whether your portfolio is leaking money.