Income in real estate refers to the monetary benefits or other state advantages derived from the use of property, skills, or business. This includes rents, fees, royalties, and revenues from various activities related to the property.
Miscellaneous income in real estate refers to revenue generated from operating a property, excluding rental income. This additional income can come from various ancillary services and fees associated with the property.
The National Council of Real Estate Investment Fiduciaries (NCREIF) is an organization that collects historical data on various institutional-grade property types, sorted by geographic areas. It publishes data on income and value changes, and its index, often cited as the benchmark for institutional real estate performance, is known as the Russell-NCREIF Real Estate Performance Report.
Passive income refers to earnings derived from a rental property, limited partnership, or other investment in which a person is not actively involved. Passive income often gives the benefit of regular earnings without actively working.
Potential Gross Income (PGI) represents the total rental income a property could generate if it were fully occupied at market rental rates and without any deduction for vacancies, rental concessions, or collection losses.
