The following definitions have been adopted for purposes of this Best Practices document. They do not necessarily represent legal terminology or definitions and should not be construed as such.
Client – The term “client” is used here to refer to the owner of the property or owner’s designated agent to whom management services are provided.
Client directive – The term “client directive” is a written instruction from the client, or confirmed in writing with the client, or contained within a contract or management agreement.
Landlord – The term “landlord” is used here to refer to the owner or owner’s designated agent of real estate that is rented or leased to an individual or business.
Management company – The term “management company” is used here to refer to an organization operating as a managing agent that provides real estate management services for a fee. This includes property management companies and property management departments within full-service real estate companies.
Owner – The term “owner” is used here to refer to the individual or entity with legal right of title to a property.
Tenant/Resident – The term “tenant/resident” is used here to refer to a person or entity that pays and/or exchanges something of value to occupy or gain possession of real estate. “Resident” reflects terminology used in residential real estate management, while “tenant” is used for other property types.