CAM Glossary

The table below defines the terms used in the Certified Apartment Manager (CAM) SM Participant Workbooks.

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Terms Definition
Abandon To abandon is to intentionally and permanently give up, surrender, leave and desert or relinquish all interest or ownership in property, a home or other premises, or a right of way. The word is often used in situations to determine whether a resident has left their apartment and the property inside and does not intend to come back.
Absolute A chemical substance that is absolute is pure; it is a single dose of or exposure to a substance.
Acceptance Acceptance is voluntarily receiving something that is offered. This is a required component of a legal contract.
Accessible Accessible describes the public and common use areas of an apartment community, which can be used by individuals with disabilities. A requirement for apartments constructed for first occupancy after March 13, 1991.
Accessible route An accessible route is a continuous and unobstructed path through corridors, floors, ramps, elevators, parking access aisles, curb ramps, walks, etc. which can be used be a person using a wheelchair and that is also safe for use by persons with other disabilities. A requirement for apartments constructed after March 13, 1991.
Accommodation Accommodation refers to changes in rules, services, practices or policies that allow persons with disabilities equal enjoyment of housing but do not change the nature of the program.
Accrual basis accounting Accrual basis accounting refers to the accounting method that records income and expenses in the fiscal period they are earned or incurred regardless of when they are actually received or paid.
Action Action, in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity and any other proceedings in which rights are determined.
Administrative complaint An administrative complaint is a complaint that is usually referred to as a “fair housing complaint”. It is a written statement filed with HUD, DOJ or a state enforcement agency alleging that a fair housing violation has occurred.
Administrative law judge An administrative law judge is a federal judge who hears evidence in an administrative hearing and determines if discrimination occurred, and, if so, decides what penalties, fines or damages must be awarded to the person against whom the discrimination occurred.
Administrator An administrator exercises independent judgment and discretion and manages and oversees management policies and general business operations.
Advertising Advertising is the non-personal promotion of the product, service or company in mass media that is openly paid for and/or sponsored by you.
Advertising strategies Advertising strategies begin with describing and identifying the target audience. The next step is to set up specific objectives and decide on the advertising budget.
Adware Adware is a form of spyware that collects information about the user in order to display advertisements in the Web browser based on the information it collects from the user's browsing patterns.
Affirmative Action Affirmative action is a plan or program created to increase opportunities for minorities, women, individuals with disabilities, veterans and other protected classes.
Agent An agent is a person who is authorized to act for another (the agent's principal) through employment, by contract or apparent authority. The importance is that the agent can bind the principal by contract or create liability while in the scope of the agency.
Aggrieved party An aggrieved party is a party entitled to resort to a remedy.
Aggrieved person Aggrieved person is any person who claims to have been injured by a discriminatory housing practice or believes he/she will be injured by a discriminatory housing practice that is about to occur.
Agreement Agreement is the bargain of the parties in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course performance.
Amenities Amenities are specific items offered at the community in addition to the space; i.e.: pool, tennis courts, recreation room etc.
Amortization Amortization is the process of retiring a debt or recovering capital investment, typically through scheduled, systematic repayment of the principal.
Analysis Analysis is the process of researching and evaluating a situation prior to making recommendations.
Arbitration Arbitration is a non-judicial process in which disputing parties agree to bind themselves to whatever decision the arbitrator determines as a fair solution.
Asbestos Asbestos is a mineral fiber than can pollute air or water and cause cancer or asbestosis when inhaled. The U.S. Environmental Protection Agency (EPA) has banned or severely restricted its use in manufacturing and construction.
Assignment Assignment is a written transfer of the rights of use and occupancy of a property held by another legal entity, or to be used for the benefit of creditors, e.g., assignments of mortgages, sales contracts and/or leases.
Assisted Housing Assisted housing is housing for which the government provides assistance to facilitate occupancy, construction, or financing.
Back support belt Back support belt is a flexible support belt designed to minimize muscle strain for lifting and other upper body movement tasks.
Balance Sheet A balance sheet is an itemized listing of the total assets, total liabilities and net worth of an entity.
Balloon Mortgage A balloon mortgage is a mortgage that is not fully amortized at maturity and requires a lump sum payment of the outstanding balance.
Banners Banners are large colorful vinyl graphics and/or words strategically placed throughout the community to promote and advertise particulars.
Benefits There are two (2) different types of benefits:
  • Benefits are an advantage of a feature, as perceived by the customer.
  • Benefits are the additional incentives that are offered by employers to attract and retain employees. Benefits may include paid vacation, paid sick leave, and medical insurance.
Bidding process The bidding process allows vendors a fair opportunity to bid on services or purchases exceeding a predetermined dollar amount. Method of securing vendors of a product or service by establishing and distributing bidder responsibilities and qualification.
Biweekly If something is biweekly, it occurs once every two weeks. Most commonly refers to a payroll cycle. There are 26 paydays in a biweekly payroll year.
Blockbusting Blockbusting is an attempt to persuade a person into selling or renting a dwelling in a neighborhood containing people of a particular race, color, nationality, disability, familial status, sex or religion.
Brainstorming A brainstorm is a meeting for the purpose of developing creative and inspiring ideas.
Breach of contract Breach of contract is the failure to perform any term of a contract, written or oral, without a legitimate legal excuse. This may include not completing a job, not paying in full or on time, failure to deliver all the goods, substituting inferior or significantly different goods, not providing a bond when required, being late without excuse, or any act which shows the party will not complete the work ("anticipatory breach"). Breach of contract is one of the most common causes of lawsuits for damages and/or court-ordered "specific performance" of the contract.
Browse Browsing refers to navigating through web sites on the Internet.
Browser "Browser" is short for web browser, a software application used to navigate through web sites on the Internet. Two of the most popular browsers are Google Chrome and Microsoft Internet Explorer.
Building entrance on an accessible route A building entrance on an accessible route is an accessible entrance to a building that is connected by an accessible route to public transportation stops, accessible parking and passenger loading zones, or to public streets or sidewalks.
Capitalization rate (Cap rate) Capitalization Rate (Cap Rate) is a rate used to convert income into value by dividing the property’s net operating income by its purchase price.
Carbon monoxide Carbon monoxide is a colorless, odorless, poisonous gas formed when carbon in fuels is not burned completely.
Cash basis accounting Cash basis accounting is an accounting method that records income and expenses when they are actually received or paid.
Cash flow Cash Flow refers to the amount remaining after all the sources of income are collected and all property operating expenses, including capital expenditures, and if applicable, replacement reserves and debt service are paid. The formula is NOI less Capital expenditures and Debt Service.
Cash-on-cash return Cash-on-cash return is an investment performance measurement that compares the cash received in each period against the original cash invested. It can be further separated into before-tax and after-tax returns.
Ceiling Ceiling is the maximum allowable human exposure limit for an airborne substance: not to be exceeded even momentarily.
Certification Certification is the documentation of specific qualifications. It is generally used to certify specialized training and expertise.
Civil Action A civil action is a lawsuit filed in federal or state court. It can be either a private civil action filed by the complaining party or an advocacy group, or it can be an agency civil action prosecuted by the HUD, DOJ, or a state enforcement agency. Attorneys and judges call this a complaint, but it is different from the administrative complaint filed with HUD or a state enforcement agency.
Civil Rights Act of 1991 The Civil Rights Act of 1991 is the federal law that provides for monetary damages in cases of intentional employment discrimination.
Combustable Combustible is a term used to classify certain liquids that will burn on the basis of flash points
Common use areas Common use areas are rooms or areas that are made available for the residents of a building and their guests including hallways, lounges, lobbies, laundry rooms, refuse rooms, mailrooms, recreational areas, walks and breezeways.
Community Community refers to any apartment community or real estate development and its surroundings
Compensatory damages Compensatory damages are the financial penalties intended to offset losses.
Competent Competency, in general, refers to someone’s ability to act in the circumstances, including the ability to perform a job or occupation, or to reason or make decisions. In wills, trusts and contracts, sufficiently mentally able to understand and execute a document.
Competition Competition is any community the customer might lease from within a reasonable geographical location and price range
Complaint A complaint is used by attorneys to refer to a civil action filed in federal or state court. Starts the federal or state investigative process.
Conciliation Conciliation is a method used by HUD to resolve fair housing complaints. Conciliation agreements are usually between the person who filed the fair housing complaint and he person accused of housing discrimination.
Condominium A condominium is a multiunit structure or property where people hold fee simple title to individual units and an undivided interest in common areas.
Consideration Consideration refers to the payment of money. Consideration must be of value (at least to the parties), and is exchanged for the performance or promise of performance by the other party (such performance itself is consideration).
Constructive Criticism Constructive criticism is critical or analytical comments that are made to encourage positive results.
Constructive eviction Constructive eviction is when the landlord allows the premises to become uninhabitable thus justifying the resident in abandoning the lease.
A consumer report A consumer report is a report detailing the payment history of purchasers of goods and services.
Contract A contract is an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since the law of contracts is at the heart of most business dealings, it is one of the three or four most significant areas of legal concern and can involve variations on circumstances and complexities. The existence of a contract requires finding the following factual elements: a) an offer; b) an acceptance of that offer which results in a meeting of the minds; c) a promise to perform; d) a valuable consideration (which can be a promise or payment in some form); e) a time or event when performance must be made (meet commitments). Contracts can be either written or oral, but oral contracts are more difficult to prove and in most jurisdictions the time to sue on the contract is shorter.
Contractor A contractor is an individual or company providing materials and/or service. Also a separate business entity that provides specialized skills and or products that agrees to furnish materials or perform services at a specified price.
Corporate Marketing Corporate marketing is marketing to a corporation for employee referrals.
Corrective criticism Corrective criticism is critical or analytical comments that are communicated to encourage remedial behavior or actions.
Counseling Counseling is a meeting intended to give advice or recommendations regarding problems, job performance, or behavior.
Curb Appeal Curb appeal is what the customer sees outside the building. i.e. flowers, signage, amenities, etc. Also includes electronic curb appeal
Debt Service Debt service is the periodic payment that covers the interest on and retirement of the outstanding principal on a mortgage loan.
Deductible A deductible is an amount which a policyholder agrees to pay, per claim or per accident, toward the total amount of an insured loss.
Default Default is the failure to make a payment when due or otherwise failing to perform an obligation under the lease.
Defendant A defendant is a person or institution against whom an action is brought in a court of law; the person being sued or accused. A defendant is any party, against whom action is brought in a court of law and is required to answer the complaint of a plaintiff in a civil lawsuit, or any party, who has been formally charged or accused of violating a criminal statute.
Delinquent Delinquent refers to a status of not paid in full amount or on time.
Depreciation Depreciation is an allowance made against the loss in value of an asset for defined purpose and computed using a specified method.
Disability Disability is a physical or mental impairment that substantially limits one or more major life activities of an individual. A person is disabled when there is existing record of impairment, a history of impairment or the person is otherwise regarded as having impairment.
Disciplinary action Disciplinary action is an action or set of steps taken to correct deficiencies in job performance or behavior.
Discrimination Discrimination refers to the unequal treatment of persons, as a class, for a reason, which has nothing to do with legal rights or ability. Federal and state laws prohibit discrimination in employment, availability of housing, rates of pay, right to promotion, educational opportunity, civil rights, and use of facilities based on race, nationality, creed, color, age or sexual orientation.
Disparate impact discrimination Disparate impact discrimination is a practice that may seem neutral but results in unequal treatment for members of a protected class.

Example: If job applicants are recruited primarily through word-of-mouth and the workforce consists entirely of white males, there may be disparate impact discrimination as it is unlikely that few people other than white males will hear about job openings.

Disparate treatment Disparate treatment is overtly treating someone differently because of race, color, sex, religion, national origin, familial status or disability.
Domain name Domain name is a name that identifies a particular web site or computer. For example, is the domain name for the National Apartment Association’s Internet web site.
E-marketing E-marketing is marketing by using tools on the Internet such as bulletin boards, Web sites, social media, Internet Listing Services and e-mail.
Effective gross income (EGI) Effective gross income is the anticipated total revenue from all operations after vacancy, concession, non-revenue units and collection losses and including other income.
Embezzlement Embezzlement is the act of fraudulently appropriating money to one’s own use.
Employment eligibility Employment eligibility is the documentation that identifies individuals as authorized to work within the U.S.
Employment-at-will Employment-at-will is employment that is not for a specified term and may be terminated at any time, with or without cause, either by the employee or the company.
Equal Pay Act of 1963 (EPA) Equal Pay Act of 1963 (EPA) is the federal law that protects men and women who perform substantially equal work in the same establishment from sexbased wage discrimination.
Errors and omissions insurance Errors and omissions insurance is professional liability insurance policy that provides protection against loss incurred because of some negligent act, error, or omission by the insured.
Eviction Eviction is a generic word for the act of expelling (kicking out) someone from real property either by legal action (suit for unlawful detainer), a claim of superior (actual) title to the property, or actions that prevent the resident from continuing in possession (constructive eviction).

Most frequently eviction consists of ousting a resident who has breached the terms of a lease or rental agreement by not paying rent or a resident who has stayed (held over) after the term of the lease has expired or only had a monthto-month tenancy.

Executive An executive has the primary duty of managing the business or part of it, regularly directs the work of at least two employees; has the authority to hire, fire, and promote; and exercises discretion.
Exempt employees Exempt employees are certain, mostly salaried employment positions, such as executives, administrators, professionals, or outside salespeople, that are exempt from overtime requirements.
Exit interviews Exit interview is an interview conducted after employment separation to derive information about the work experience of the departing employee.
Exposure Exposure refers to contact with a chemical by swallowing, by breathing or by direct contact (such as through the skin or eyes). Exposure may be either short term (acute) or long term (chronic). Exposure also often refers to the leased exposure at a community (percentage of units available to lease)
Extrapolation Extrapolation is the process of estimating future information using a continuation of known data.
Fair Housing logo Fair housing logo is a symbol or picture of a house with an “equal sign” (=) in the middle and the words “Equal Housing Opportunity” written under it.
Fair Housing poster Fair housing poster is an approved HUD poster that must be displayed in all corporate, leasing or management offices. The poster states, “We do Business in Accordance with the Fair Housing Act” and “It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin”.
Fair Labor Standards Act (FLSA) Fair Labor Standards Act (FLSA) is the federal law that establishes minimum wage, overtime pay, record keeping, and child labor standards.
Familial Status Familial status refers to one or more individuals under the age of 18 who live with a parent, legal custodian or any adult who has the written permission of the parent or legal custodian to care for their child. Also includes pregnant women or individuals securing the custody of children under 18.
Fault Fault is a wrongful act, omission or breach.
Features Features are physical descriptions or the attributes of a product or service.
Firm limit contract A firm limit contract is a one-time contract for a fixed quantity of goods or services with prescribed delivery schedules.
Fixed expenses Fixed expenses are operating expenses that do not vary with occupancy. Taxes and insurance are examples.
Flags Flags are placed in various locations to attract the attention of customers driving by or to promote an image created through other means.
Flammable liquid Flammable liquid is defined by NFPA and DOT as a liquid with a flash point below 100° F (37.8° C)
Flash point Flash point is the temperature at which a liquid well give off enough flammable vapor to ignite. There are several test methods to determine the flash point and flash points for the same material may vary depending on the method in which the material is used, so a test method should always be listed with the flash point.
Flexible leave time Flexible leave time is a type of leave permitted under the Family Medical Leave Act that allows for reduced work hours or days on a flexible schedule.
Flyers Flyers are creative, eye-catching promotional items used in direct mail to generate interest to call or visit a particular apartment community.
Forcible eviction Forcible eviction is when the landlord does not go through a legal eviction of a resident but takes steps, which keep the resident from continuing to live in the premises. This could include changing the locks, turning off the drinking water, blocking the driveway, or nailing the door shut. The landlord’s actions violate the resident’s rights.
Fraud Fraud is the intentional use of deceit, a trick or some dishonest means to deprive another of his/her/its money, property or a legal right.
General liability insurance General liability insurance is coverage that pertains, for the most part, to claims arising out of the insured's liability for injuries or damage caused by ownership of property, manufacturing operations, contracting operations, sale or distribution of products, and the operation of machinery, as well as professional services.
Good faith Good faith is honesty in conduct or transaction.
Ground Fault Circuit Interrupter (GFCI) A Ground Fault Circuit Interrupter (GFCI) is a fast-acting circuit breaker that monitors the current going in and out of an electrical device. By sensing small imbalances in the circuit caused by current leakage to the ground, it shuts off electricity in a fraction of a second. Most circuits around sources of water –kitchens, bathrooms, near swimming pools – use GFCIs.
Guarantor A guarantor is a person or entity that agrees to be responsible for another's debt or performance under a contract if the other fails to pay or perform.
Habitable A residence is habitable if it is safe and can be occupied in reasonable comfort; it is fit for human habitation.
Handicap As defined by the Fair Housing Act, a handicap is:
  • a physical or mental impairment which substantially limits one or more of a person’s major life activities
  • a record of having such impairment, or
  • being regarded as having such an impairment
Harrassment Harassment includes unwelcome actions, written or spoken words, jokes, or comments based on an individual’s sex, race, ethnicity age, religion, or any other legally protected characteristic/category.
Hazard communication plan A hazard communication plan is the company’s written policy for working with and handling hazardous materials. It is required by OSHA.
Hazard communication standard The Hazard Communication Standard is an OSHA regulation that requires chemical manufacturers, suppliers, and importers to assess the hazards of the chemicals that they make, supply or import, and to inform employers, customers, and workers of these hazards through SDS sheets.
Hazard evaluation Hazard evaluation is a component of risk evaluation that involves gathering and evaluating data on the types of health injury or disease that may be produced by a chemical and on the conditions of exposure under which such health effects are produced.
Hazard identification Hazard identification is the process of determining if a chemical can cause adverse health effects in humans and what those effects might be.
Home page A home page is the main page of a web site.
Honor Honor refers to pay or accept to pay.
HUD Acronym for the U. S. Department of Housing and Urban Development, a cabinet-level federal agency responsible for fair housing compliance and government assisted housing programs including Section 8.
Incompatible Materials that cause dangerous reactions from direct contact with one another are described as incompatible.
Insolvent Insolvent refers to when a person has either ceased to pay his debts in the ordinary course of business or cannot pay his debts as they become due or is insolvent within the meaning of federal bankruptcy law.
Insubordination Insubordination refers to not submitting to authority.
Internal rate of return Internal rate of return is return on capital that is generated or is capable of being generated within an investment over time. IRR is primarily used when trying to decide which investment to make among several choices.
Irritant An irritant is a substance which, by contact in sufficient concentration for a sufficient period of time, will cause an inflammatory response or reaction of the eye, skin or respiratory system.
Keating memorandum The Keating memorandum is an HUD internal memo used as a guide in conducting an investigation of cases involving discrimination against families with children. HUD is required by Congress to use the memo when reviewing an occupancy restriction and states that an apartment community may have an occupancy standard of two persons per bedroom.
Landlord Landlord is a person who owns real property and rents or leases it to another, called a "resident."
Landlord and tenant Landlord and tenant refers to the area of law concerning renting and leasing property and the rights of both the owner and the renter or lessee.
Lead Lead is a very toxic element, causing a variety of effects at low dose levels. It may be present in soil, water, solvents and paint.
Lease A lease is a written agreement in which the owner of property (either real estate or some object like an automobile) allows use of the property for a specified period of time (term) for specific periodic payments (rent), and other terms and conditions. Leases of real property describe the premises (often by address); penalties for late payments, termination upon default of payment or breach of any significant conditions; increases in rent based on cost of living or some other standard; inclusion or exclusion of property taxes and insurance in rent; limitations on use (for a residence for the family only, no pets); charges for staying on beyond the term (holding over); any right to renew the lease for another period; and/or a requirement for payment of attorneys' fees and costs in case of the need to enforce the lease (including eviction). A lease is distinguished from a mere renting of the premises on a month-to-month basis and cannot exceed a year unless agreed to in writing.
Leave Leave is an approved prolonged absence from work or duty that may be with or without pay.
Legal duty Legal duty is the responsibility to others to act according to the law. Proving the duty (such as not to be negligent, to keep premises safe) and then showing that the duty was breached are required elements of any lawsuit for damages due to negligence or intentional injuries.
Lessee Lessee is the person renting property having the right to use or occupy the property under the written lease from the owner (lessor). He/she is the resident, or tenant, and the lessor is the landlord.
Lessor Lessor is the owner of real property who rents it to a lessee pursuant to a written lease. Thus, he/she is the landlord and the lessee is the resident.
Liability Liability is any legally enforceable debt or obligation, including probable future financial obligations; legal responsibility
Lien waiver Lien waiver is a signed and notarized document that waives or surrenders all claims against the engaging company or apartment community from the contractor, its employees, its subcontractors and its material suppliers.
Liquidity Liquidity is the ease with which an asset can be converted to cash
Lockout/Tagout Lockout/Tagout is an OSHA standard that describes a state of zero energy, when the source of energy or power has been locked and tagged, so that there is no possibility of injury due to an unexpected release of energy.
Loss control Loss control is any conscious action (or decision not to act) intended to reduce the frequency, severity, or unpredictability of accidental losses.
Loss prevention Loss prevention is any measure that reduces the probability or frequency of a particular loss but does not eliminate completely all possibility of that loss.
Major life activities Major life activities include, but are not limited to, caring for one’s self, performing manual tasks, walking, seeing, hearing, speaking, breathing, learning and working.
Market rent Market rent is rental income that a property would most probably command in existing market conditions. Often used interchangeably with street rent and scheduled rent. The basis for apartments is unit type and size.
Market research Market research is a cost effective way to find out what people believe, want, think and need. It is often information that you would not be able to receive from any other source.
Marketing Marketing refers to integrated and coordinated activities of research, product, price, promotion, distribution, and resident relations, among others, which are focused both inside and outside the community. The purpose is to encourage recipients of marketing efforts to purchase the product or service.
Marketing budget Marketing budgets refers to budget determination; creative strategy and advertising and are closely interrelated. They all will determine the amount of money that can be used in the marketing process.
Marketing plan Marketing plan is a detailed, written account and timetable of the objectives and methods to be used to achieve the company marketing goals. Marketing plans are developed, implemented, evaluated and adjusted regularly to keep the strategy on target.
Safety Data Sheet (SDS) Safety Data Sheet (SDS) is an information sheet required by OSHA and prepared by the manufacturer of a chemical or product to describe its hazard information, physical and chemical characteristics and special precautions that may need to be taken with its use.
Mediation Mediation is the act of mediating between two parties in an attempt to reach resolution.
Melting point Melting point is the temperature at which a solid substance changes to a liquid state. For mixtures, the melting range may be given.
Merit systems Merit system is a system that recognizes and rewards employees according to job performance.
Models Models are furnished and decorated apartment homes.
Month-to-month Month-to month refers to a tenancy in which the resident pays monthly rent and the tenancy can be terminated by either party at any time on thirty days notice. A month-to-month tenancy may or may not have a written lease.
NAA National Apartment Association
NAAEI National Apartment Association Education Institute
National origin National origin is someone’s ethnic or ancestral background.
Net operating income Net operating income is the actual or anticipated total revenue that remains after all operating expenses, but before mortgage debt service and capital expenditures (or replacement reserve payments) are deducted.
Net worth Net worth is the difference between total assets and total liabilities. In real estate, this represents the owner’s equity
Network A network is a group of two or more computers linked together. There are many types of computer networks, including:
  • Local-area networks (LANs): The computers are physically connected to each other by cables and are therefore usually located within the same building.
  • Wide-area networks (WANs): The computers are connected by telephone lines or radio waves and are usually at a distant location from each other.
Non-exempt Non-exempt refers to the payroll status of hourly workers who are paid an hourly wage for hours worked, plus overtime.
Notice to quit Notice to quit is the notice given by a landlord (owner) to a resident to leave the premises (quit) either by a certain date or to pay overdue rent or correct some other default (having pets, having caused damage, too many roommates, using the property for illegal purposes, etc.) within a short time (usually three days). A notice to quit must contain certain information, such as: names of the persons to leave, whether their tenancy is by written or oral agreement, an amount of any financial delinquency and the period it covers, and to whom they should surrender the premises. If the resident is month-to-month, a notice to quit without reference to default usually requires no reason. Although state laws vary, generally the notice must be served personally on the resident or posted in a prominent place like the front door with a copy sent by certified mail. Such notice and failure of the resident to quit (leave) is a requirement to bring a lawsuit for unlawful detainer (often referred to as "eviction").
Occupancy standards Occupancy standards are restrictions limiting how many people may live in an apartment. Guidelines state the number of people that may occupy each bedroom; usually two persons per bedroom; or per square feet.
Occupational Safety and Health Act (OSHA) The Occupational Safety and Health Act (OSHA) is the 1970 law that addresses health and job safety in the workplace. It created the Occupational Safety and Health Administration (also OSHA) at the same time that the EPA was created. The OSHA law requires the new agency to promulgate standards such that "no employee will suffer material impairment of health or functional capacity even if ... [exposed] ... for the period of his working life." The OSHA law covers all industrial operations, including apartment operations.
Occupational Safety and Health Administration (OSHA) The Occupational Safety and Health Administration (OSHA) is the federal agency (with the state authority OSHA) that oversees worker health and job safety, including hazardous materials in the workplace. This agency is not associated with hazardous waste except as it affects worker health and safety.
Operating expenses Operating expenses are all expenditures made in the course of operating an apartment community with the exception of debt service and capital expenditures (or replacement reserve payments). Fixed expenses include real estate taxes and insurance. Variable expenses, often associated with occupancy, include utilities, contract services, administrative expense, management fee, payroll, and maintenance and repairs.
Overturn Overtime is the time worked in excess of 40 hours in a workweek or, in some states, overtime is time worked over 8 hours in a workday. Overtime is paid at 1 ½ times the regular hourly wage.
Owner's equity Owner’s equity is the owner’s claim against the assets of a business.
Pathogens Pathogens are disease-producing organisms carried in the blood (blood-borne).
Perception Perception is the impression most commonly held by the target market about the property, service or company. Perceptions may not necessarily reflect reality.
Personal protective equipment (PPE) Personal protective equipment refers to all equipment such as back support belts, hard-hats, protective goggles, etc., that might be made available (and sometimes required) for employee use when performing certain tasks.
Policy A policy is a guideline that ensures that the company operates by written management practices and legal structure.
Policyholder The policyholder is the person who pays a premium to an insurance company in exchange for the insurance protection provided by a policy of insurance.
Principal Principal can be defined in two (2) ways:
  • A capital sum that is invested; a payment that represents partial or full repayment of the capital loaned or invested, as distinguished from the payment of interest.
  • An individual or entity that designates another as agent.
Procedure Procedure is the accepted methods of administering policies.
Programmed inspections Programmed inspections are inspections that are targeted at high hazard industries, occupations, health substances or other industries identified by OSHA’s current inspection procedures.
Promotion Promotion is the part of the marketing mix, which relates to creating awareness, effecting perception and consummating the sale of the product or service; includes personal and non-personal.
Property Property refers to anything that is owned by a person or entity. Property is divided into two types: "real property," which is any interest in land, real estate, or the improvements on it, and "personal property" (sometimes called "personalty") which is everything else.
Property value Property damage is an injury to real or personal property through another's negligence, willful destruction or by some act of nature. The amount of recovery for property damage may be established by evidence of replacement value, cost of repairs, loss of use until repaired or replaced or, in the case of heirlooms or very personal items, by subjective testimony as to sentimental value.
Property damage Property damage is an injury to real or personal property through another's negligence, willful destruction or by some act of nature. The amount of recovery for property damage may be established by evidence of replacement value, cost of repairs, loss of use until repaired or replaced or, in the case of heirlooms or very personal items, by subjective testimony as to sentimental value.
Protected classes Protected classes refer to individuals protected against discrimination on the basis of race, color, religion, sexual orientation, handicap, familial status, or national origin.
Public relations Public relations is the non-personal promotion of the product, service or company in mass media that is not openly paid for and/or sponsored by you.
Punitive damages Punitive damages are financial penalties intended to inflict punishment.
Radon Radon is a radioactive gas that is a natural byproduct of the decay of uranium which is found ion nearly all types of soil and water. It becomes dangerous when in concentration.
Reactivity Reactivity is a describes the tendency of a substance to undergo chemical reaction with the release of energy. Undesirable effects – such as pressure build up, temperature increase, formation of noxious, toxic or corrosive byproduct – may occur because of the reactivity of a substance to heating, burning, direct contact with another material or other conditions in use or storage.
Real Estate Investment Trust (REIT) Real Estate Investment Trust (REIT) is a corporation or trust that combines the capital of many investors to own and manage or provide financing for all forms of real estate.
Reasonable accommodation A reasonable accommodation is a request from a disabled visitor, applicant or resident to change a management rule or policy in order to use or enjoy the apartment community.
Reasonable modification Reasonable modification is a request from a disabled visitor, applicant or resident to make a physical change to the apartment home or to the community that will allow them to use the premises fully.
Remedy A remedy is any remedial right to which an aggrieved party is entitled with or without resort to tribunal.
Renewal Renewal is keeping an existing arrangement in force for an additional period of time, such as a lease or any other contract. Renewal usually requires writing or some action, which evidences the new term.
Rent Rent is the amount paid by the renter and received by the owner. Rent may be specified in a written lease, but also may be based on an oral agreement for either a short period or on a month-to-month basis when it may be terminated on a month's notice.
Rental value Rental value is the amount, which would be paid for rental of similar property in the same condition in the same area. Evidence of rental value becomes important in lawsuits in which loss of use of real property or equipment is an issue, and the rental value is the "measure of damages."
Replacement reserves Replacement reserves are an allowance that provides for the periodic replacement of building components or equipment that wear out. Some loan agreements require monthly payments to fund such a reserve. This is particularly true for Federally assisted housing.
Representative A representative could be an agent, an officer of a corporation or association, a trustee, executor or administrator of an estate, or any other person empowered to act for another.
Resident A resident is a person who occupies real property owned by another based upon an agreement between the person and the landlord/owner, almost always for rental payments.
Retainage fee Retainage fee is a specified dollar amount (usually 10%) that is held by the engaging company for a specified time period (usually 30 days) after the job is completed to guarantee completion of the work and defect-free workmanship.
Retaliation Retaliation is to return punishment in kind or like for like. In employment it is unlawful to fire, discipline, or refuse to promote an employee who has opposed or complained about discrimination or unlawful acts.
Risk Risk is the possibility of injury, loss, disease or death.
Risk Control Risk control is any conscious action (or decision not to act) intended to reduce the frequency, severity, or unpredictability of accidental losses.
Risk management Risk management is the process of deciding how to reduce or eliminate the adverse effects of a financial loss by identifying potential loss sources, measuring possible loss impact, and implementing necessary controls to minimize losses when they happen.
Salary Salary is payment made to an employee not on the basis of hours worked, but instead by the pay period. Salaried employees are usually (but not always) considered to be exempt from overtime.
Sales promotion Sales promotion are sales activities designed to consummate a sale or increase the size of the sale, i.e., coupons, contests etc.
Security deposit Security deposit is a payment required by a landlord from a resident to cover the expenses of any repairs of damages to the premises greater than normal "wear and tear.” The security deposit must be returned within a short time (varying by state) after the resident vacates, less the cost of repairing any unusual damage. Unfortunately for resident’s, these damages are usually subject to the judgment of the landlord, who may desire to paint and refinish on the resident's money, which results in many small claims suits. In a few states the security deposit must be kept in a separate bank account, and some states require payment of interest on the amount held as a deposit. A security deposit is sometimes confused with a deposit of the "last month's rent," which may be credited to the resident for the final month's rent. A security deposit cannot be used legally as a rent credit.
Security interest Security interest is an interest in personal property or fixtures which secures payment or performance of an obligation.
Seniority system A seniority system is a system that recognizes and rewards employment status achieved by length of service on the job.
Separation Separation is the point at which employment status ends, either voluntarily or involuntarily.
Small Claims Court Small Claims Court is a division of most municipal, city or other lowest local courts, which hear cases involving relatively small amounts of money and without a request for court orders like eviction. The highest (jurisdictional) amount that can be considered in small claims court varies by state. In small claims court, attorneys may not represent clients, the filing fee is low, there is no jury, the procedure is fairly informal, each side has a short time to present his/her case and the right to appeal only permits a new trial at the next court level. Small claims court is a quick, inexpensive way to settle lesser legal disputes, although the controversies are often important to the participants.
Stability Stability is the expression of the ability of a material to remain unchanged. For SDS purposes, a material is stable if it remains in the same form under expected and reasonable conditions of storage or use.
Statute of frauds The statute of frauds is the law in every state that requires that certain documents be in writing, such as real property titles and transfers (conveyances), leases for more than a year, wills and some types of contracts. The original statute was enacted in England in 1677 to prevent fraudulent title claims.
Steering Steering refers to words or conduct that discourage a prospect, applicant or resident from applying for or obtaining housing or which direct or assign that person to a particular section of the apartment community or even another community.
Sublease Sublease is the lease to another of all or a portion of premises by a resident who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. In any event, the original resident (lessee) is still responsible for paying the rent to the owner (landlord/ lessor) through the term of the original lease and sublease.
Target market Target market refers to the characteristics (some may include economic, location and amenity requirements) of the consumer to whom a community wants to focus their marketing and advertising efforts. Determining the correct targeted prospective residents is the greatest marketing challenging aspect to developing a marketing plan.
Tenancy Tenancy is the right to occupy real property permanently, for a time, which may terminate upon a certain event, for a specific term, for a series of periods until cancelled (such as month-to-month), or at will (which may be terminated at any time). Some tenancy is for occupancy only as in a landlord-resident situation, or a tenancy may also be based on ownership of title to the property.
Termination Termination is the conclusion of employment, which may be either voluntary or involuntary.
Title VII Title VII prohibits employment discrimination based on race, color, religion, sex and national origin.
Toxic materials, substances Toxic materials, substances are poisonous materials or substances present in the work environment that are a risk to health and safety.
Undue hardship Undue hardship is an act that creates excessive financial, physical or psychological difficulty.
Unlawful detainer Unlawful detainer can be described in one of two ways:
  1. Keeping possession of real property without a right, such as after a lease has expired, after being served with a notice to quit (vacate, leave) for non-payment of rent or other breach of lease, or being a "squatter" on the property. Such possession entitles the owner to file a lawsuit for "unlawful detainer," asking for possession by court order, unpaid rent and damages.
  2. A legal action to evict a resident or other occupier of real property in possession, without a legal right, to declare a breach of lease, and/or a judgment for repossession, as well as unpaid rent and other damages.
Vacancy, concession, and collection loss Vacancy, concession, and collection loss is an allowance for reductions in potential income attributable to vacancies, concessions, and nonpayment of rent.
Wages Wages are money paid for work done, which usually refers to an hourly wage.
Whistle-blower Whistle-blower is an employee who reports or reveals unlawful or unethical business practices conducted by their employer.
Workers' compensation Workers’ compensation is a system established under state law that provides payments, without regard to fault, to employees injured in the course and scope of their employment. Insurance against liability imposed on certain employers to pay benefits and furnish care to employees injured, and to pay benefits to dependents of employees killed in the course of or arising out of their employment
Yield Yield refers to the current dividend on an investment; current yield is the percentage of annual cash income to the investment cost.