ACQUISITIONS

Transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities

ADDITIONAL RENT

Landlord’s expenses for the property; includes property taxes, operating expenses such as HVAC, roof, janitorial, etc.

AMENITIES

Features that add to a property’s desirability, such as modern appliances and fixtures

AMORTIZATION

The repayment of loan principal through equal payments over a designated period of time consisting of both principal and interest. Typically, in property management we amortize the cost of large capital projects based on the lifespan of the item being repaired or bettered.

ANCHOR TENANT

The primary and usually the largest tenant in a shopping center. Larger shopping centers may have more than one anchor tenant. Rent for anchor tenants is often significantly lower than rent for other tenants in a shopping center because they draw consumers to the center. Source: The NAIOP Research Foundation, 2017

ANNUITY

Regular fixed payments or receipts over a designated period of time.

APPRAISAL

An opinion or estimate of the value of the property. Also, the act or process of estimating value.

APPRAISER

someone who determines the fair market value of property.

ARCHITECTURE

represent a building of space as it was actually constructed.

AS-BUILT DRAWINGS

The repayment of loan principal through equal payments over a designated period of time consisting of both principal and interest. Typically, in property management we amortize the cost of large capital projects based on the lifespan of the item being repaired or bettered.

ASBESTOS

insulation material frequently used in older buildings as pipe wrap, boiler insulation, floor tile, and ceiling coating. Asbestos may become brittle with age. In that condition, it may crumble and release particles which, like dust, become airborne. Breathing asbestos particles may cause several serious lung illnesses. Removal or encapsulation of asbestos in buildings is expensive but necessary to prevent illness. The discovery of asbestos in a building is likely to cause a significant value loss.

ASSET

Something of value

ASSET MANAGEMENT ANALYST

Provides financial analysis data for decision-making on acquisitions, dispositions, property development, appraisals and other asset management activities.

ASSET MANAGER

Develops property-level strategies to maximize asset value and cash flow and meet owner’s objectives for its properties.

ASSISTANT PROPERTY MANAGER

Assists the property manager in developing budgets and monthly reports, and also oversees tenant services and property administration

AUDIT

inspection of the books, records and procedures used by a business or individual, conducted by a person qualified to do so.