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Glossary

Common Real Estate Terms

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There are currently 7 names in this directory beginning with the letter R.
Ration Utility Billing System (RUBS)
RUBS, short for Ratio Utility Billing System, is a cost-effective and equitable alternative to submetering utility usage. This popular utility management solution distributes the total utility bill among residents based on specific criteria, such as square footage or number of occupants. The type of RUBS formula employed may vary depending on the different types of utilities used at the property.
Refinance (Refi)
Refinance, often abbreviated as Refi, refers to the process of amending and replacing an existing loan agreement with a new one. Businesses opt for refinancing to negotiate more favorable terms, such as lower interest rates, revised payment schedules, or improved contractual conditions. Upon approval, the new contract supplants the original agreement.
Refinancing Fee
During refinancing, businesses incur various fees associated with repaying an existing loan and obtaining a new one, including attorney fees, application fees, and other loan-related expenses.
Rehab
Rehab, short for rehabilitation, pertains to the comprehensive renovation of a building or project aimed at enhancing its overall appearance, functionality, and market value.
Rent Comparable Analysis
The Rent Comparable Analysis forms an integral part of the due diligence process, comparing similar apartment communities within the same sub-market to evaluate how the market rents align with the subject apartment community.
Rent Roll
A Rent Roll serves as a comprehensive record listing the residents by unit along with the corresponding rent paid by each tenant in a multi-tenant property. This document is essential for property managers to track rental income and monitor occupancy trends.
Rental Concession
Rental Concessions are incentives that landlords may offer to tenants in order to secure tenancy. These concessions may include move-in bonuses, temporary rent reductions, or other perks provided to attract and retain tenants.
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