Details Title: LoopNet Description: Property Financial Definitions Total Flash Cards: 21 Created: 04/07/2008 19:31:11		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Real Estate & Planning Flashcards
Cards in this set: Term Actual/Proforma Definition The first term is the real income from operation of business during a single year. The second term is an estimation of the financial condition of the property. Term Vacancy Definition The total sq. ft of unrented space, expressed as a dollar amount in LoopNet. (typically expressed as a %) Term Reimbursement Definition Amount expended for, or on account of, a project that are to be refunded to the owner in accordance with the terms. Term Income Item Definition Item that brings forth money or other benefits that are assumed to be received periodically. Term Other Income Definition Earnings that are generated other than from the direct operation of the primary business. Term Effective Gross Definition Anticipated income from all operations of the real property after an allowance is made for vacancy and collection loses. Term Operating Expense Definition Total sum necessary to maintain an income producing property (i.e., management, utilities, day to day expenses) Term Maintenance Definition Total sum necessary to ensure that the property is safe and efficient Term Taxes Definition  Total sum imposed and paid to the State Term Insurance Definition Total sum devoted to coverage of the property/ amenities Term Other Expenses Definition Major expenditures that do not occur regularly (expenditures that do not occur on an annual basis) Term Total Expenses Definition The sum of all fixed and variable operating expenditures. Term Net Operating Income (NOI) Definition The actual or anticipated net income that remains after all operating expenses are deducted from effective gross income. Term Debt Service Definition The outstanding principal (debt) of the mortgage loan. Term Other Capital Costs Definition Amount needed in addition to the periodic expenditures necessary to maintain the property and continue production of the effective gross income. Term Pre Tax Cash Flow Definition The portion of net operating income that remains after total mortgage debt service is paid but before ordinary income tax on operations is deducted. Term Interest Rate Definition The sum, expressed as a percentage, charged for a loan. Term Amortized Over Definition Loan Information: Periodic installments of principal and interest over the entire term of the loan agreement. (Paying off a loan over time. A certain portion of the loan payment goes to interest with the remainder going to principal. As the prinicpal decreases more and more of the payment goes to pay the principal and less to the interest. The loan is in the process of being paid off. Once all payments have been made the loan is fully __________.) Term Due Definition Loan Information: Amount owed Term Annual Debt Service Definition Loan Information: The periodic payment that covers the interest on, and retirement of, the outstanding principal of the mortgage loan. Term Loan Description Definition Loan Information: Description box- Max. 200 characters