Residential Real estate
What type of property is designed for one family to live in?
Single-family home?
Is an apartment building considered residential or commercial/ real estate?
Commercial
When a property’s value increases over time, what is it called?
Appreciation
What do you call someone who rents a property?
Tenant
What professional commonly helps people buy and sell properties?
Real estate agent/ Broker
What is the money paid upfront when buying a home called?
Down Payment
What type of commercial property is primarily used for selling products directly to customers? Ex. Clothing store
Retail property
What is the income a property owner receives from tenants called?
Rental income
What do you call someone who owns a property and rents it to others?
Landlord
What professional examines a home’s condition for problems?
Home inspector
What is a loan used to purchase a home called?
Mortgage
What do you call the money a tenant pays a property owner to use a commercial space?
Rent
Buying a property, improving it, and quickly selling it for a profit is called what?
Flipping
What is the contract between a landlord and tenant called?
Lease
What professional estimates the value of a property?
Appraiser
What is the final step where ownership of a property officially transfers to the buyer?
Closing
What type of commercial property is used by companies to make or manufacture products?
Industrial property
What do you call the profit made when you sell a property for more than you paid for it?
Capital gain
What is the money a tenant may pay upfront to cover possible property damage called?
Security deposit
What professional helps borrowers obtain financing to purchase property?
Mortgage loan officer / lender
What professional examination checks a home for problems before a buyer purchases it?
Home inspection
What commercial real estate asset class does a hotel belong to?
Hospitality
What three-word term means a property’s income after operating expenses, but before mortgage payments and taxes?
NOI (Net Operating Income
What is the legal process a landlord uses to remove a tenant who violates the lease or fails to pay rent called?
Eviction
What real estate professional is responsible for overseeing the day-to-day operations of a rental property?
Property manager