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Real Estate Glossary

Average Daily Rate

The average daily rate or ADR is a key performance indicator (KPI) metric used by the hospitality or lodging industry to determine the average revenue made for an occupied room on a given day. ADR is calculated by dividing the...

Real Estate Glossary

ADR

The average daily rate (ADR) is a key performance indicator (KPI) metric utilized by the hospitality or lodging industry to determine the average revenue made for an occupied room on a given day. ADR is calculated by dividing the...

Real Estate Glossary

Abstracter

An abstracter or abstractor is a person who usually prepares and certifies the abstract of title or the summary of ownership of a property. Their main functions are to dig through your records, act as a go-between, maintain and...

Real Estate Glossary

1031 Exchange – Boot

Boot refers to non-like-kind property or items acquired through an exchange. It can be created in various ways, such as receiving debt relief, cash, or incorporating personal property in your tax-deferred exchange. Any individual...

Real Estate Glossary

Agent

This refers to either an individual or an entity that will represent, transact, or manage the business of another individual or entity--mainly the principal. An agent can enter into a binding agreement on behalf of the principal...

Real Estate Glossary

Adaptive Reuse

A type of redevelopment project, adaptive reuse is when a building is transformed in a way that will meet the current demand. An example of this is when a factory is converted for retail use or when an office building is turned...