Cost estimating in construction involves predicting the total costs of labor, materials, capital, and professional fees required to construct a proposed project.
Escrow analysis reviews and itemizes expenditures and contributions to an escrow account, primarily conducted at the end of a calendar year, to project the following year's required monthly payments.
Fixed expenses in real estate management refer to costs that remain constant regardless of occupancy levels, which contrast with variable expenses that fluctuate based on usage or occupancy.
The term 'House Poor' refers to a situation where a homeowner spends a large portion of their income on owning a home, leaving very little for discretionary or other essential expenditures.
Variable expenses are property operating costs that change in relation to the level of occupancy or usage of a rental property. These expenses are crucial in property management for adapting to fluctuating income levels.
