Property Management Glossary
Plain-English definitions of the accounting, finance, and compliance terms that matter when you run rentals at scale.
General Ledger
A general ledger (GL) is the master accounting record that holds every financial transaction for a business, o…
Trust Accounting
Trust accounting is the practice of holding and tracking money that belongs to someone else — security deposit…
Net Operating Income (NOI)
Net Operating Income (NOI) is a property's annual income from operations minus its operating expenses, before …
Capitalization Rate (Cap Rate)
The capitalization rate (cap rate) is a property's annual Net Operating Income divided by its market value or …
Delinquency Rate
Delinquency rate is the share of rent that is past due, usually measured as past-due balance ÷ total rent bill…
Gross Rent Multiplier (GRM)
Gross Rent Multiplier (GRM) is a property's price divided by its annual gross rental income. GRM = Price ÷ Ann…
FCRA (Fair Credit Reporting Act)
The Fair Credit Reporting Act (FCRA) is the U.S. federal law governing how consumer-report information — inclu…
California AB 2747 (Rent Reporting)
California Assembly Bill 2747 is a state law that, effective April 1, 2025, requires landlords of larger resid…