Property vocabulary: how proficient are you?
March 1, 2011
Neighborhood odors. This refers to smoke, gas, fumes from motor vehicles, industrial, commercial operations, odors from sewers, septic tanks, aerial spraying, or bad smells a resident finds bothersome in the neighborhood.
Parking lots. Parking lots refer to a cleared level area intended for parking vehicles. There are public and private for pay parking lots.
Bedrooms. The number of bedrooms in a housing unit includes those rooms that are used mainly for sleeping or designed to be a bedroom, even if used for other purposes. A room reserved only for sleeping, such as a guest room, even if used infrequently, is considered a bedroom. A room built as a bedroom, although not used for that purpose, such as a room meant to be a bedroom but used as a sewing room, is counted as a bedroom. On the other hand, a room designed and used mainly for other purposes, such as a den with a sleep sofa used mainly for watching television, is not considered a bedroom. A housing unit consisting of only one room, such as a one-room efficiency apartment, is classified by definition as having no bedroom.
Complete bathrooms. A housing unit is classified as having a complete bathroom if it has a room or adjoining areas with a flush toilet, bathtub or shower, sink, and hot and cold piped water. A half bathroom has hot and cold piped water and either a flush toilet or a bathtub or shower, but does not have all the facilities for a complete bathroom.
Source: US Census Bureau
About the Author: Bob Cain
Some 30 years ago Bob Cain went to a no-money-down seminar and got the notion that owning rental property would be just the best idea there is for making money. He bought some. Trouble was, what he learned at the seminar didn’t tell him how to make money on his rental property. He went looking for help in the form of a magazine or newsletter about the business. He couldn't find any.
Always ready to jump at a great idea, he decided he could put his speaking and writing skills to work and perform a valuable service for other investors who needed more information about property management. So Bob ferreted out the secrets, tricks and techniques of property management wherever he found them; then he passed them along to other landlords.
For over 25 years now, Bob has been publishing information, giving speeches, putting on seminars and workshops, and consulting for landlords on how to buy, rent and manage property more effectively.
