Glossary

Comments or updates from the development team on feedback submissions. Admins may ask questions, provide updates, or explain decisions. You'll receive notifications when admins respond to your feedback.

An automated notification about important upcoming events or overdue items. Alerts include lease expirations, property tax due dates, insurance renewals, LLC annual reports, and overdue tasks.

A yearly filing required by most states for LLCs to maintain good standing. Annual reports typically include basic company information and require a filing fee. The system tracks annual report due dates and sends reminders.

A submission reporting something that isn't working correctly in the platform. Bug reports help us identify and fix issues quickly. Include steps to reproduce and screenshots when possible.

A major upgrade that adds value to the property, extends its useful life, or adapts it to new uses. Examples: new roof, HVAC system, kitchen remodel. Capital improvements must be depreciated over 27.5 years rather than deducted immediately.

A chronological record of all updates, new features, improvements, and bug fixes released to the platform. View the changelog at "What's New" in the sidebar. Subscribe via RSS for automatic notifications.

Property used for business purposes rather than residential living. Examples include office buildings, retail spaces, and warehouses. Commercial properties have different tax rules than residential rentals.

Meeting legal and regulatory requirements for property ownership and rental operations. This includes filing annual reports, paying property taxes on time, maintaining proper insurance, and following landlord-tenant laws.

A type of property ownership where you own an individual unit within a larger building or complex. Condos typically have HOA fees and shared common areas.

A file format for exporting data that can be opened in Excel, Google Sheets, or accounting software. CSV files contain your data in a spreadsheet-compatible format.

The main overview page showing key metrics, recent activity, and important alerts. The dashboard provides a quick snapshot of your portfolio performance.

A tax deduction that allows you to recover the cost of income-producing property over its useful life (27.5 years for residential rental property). Depreciation is calculated by your accountant based on property value and improvements.

The ability to test and use new features before they're released to all users. Founding Members automatically get early access. Other users can join feature waitlists for specific features.

Money you spend on property-related costs such as repairs, maintenance, utilities, insurance, property tax, and loan payments. Expenses are tracked for tax reporting and financial analysis.

A classification for expenses that matches IRS Schedule E line items. Categories include Repairs, Maintenance, Utilities, Insurance, Property Tax, Loan Interest, and more. Proper categorization is essential for accurate tax reporting.

The ability to download your data in formats like CSV or PDF. You can export tax reports, financial summaries, and other data for use with accounting software or record-keeping.

A submission asking for new functionality to be added to the platform. Feature requests are reviewed by the team, and popular ones are added to the roadmap. Submit via the Feedback Portal.

A list you can join to receive email notifications when a specific feature launches. Join waitlists from the Roadmap page for features you're interested in. Manage your waitlist subscriptions in your profile.

A public community space where users can submit feature requests, bug reports, and improvements. All feedback is visible to the community and can be voted on. Access via the floating button or sidebar.

The current state of a feedback submission: Under Review (being evaluated), Planned (accepted for development), In Progress (actively being built), Completed (released), or Declined (not planned).

The ability to upvote or downvote community feedback submissions. Your votes help prioritize features and show community support. Votes are weighted based on your subscription plan.

An exclusive early adopter program offering 1 month free, followed by 50% off for 2 years on all paid plans. Founding Members also receive early access to features and the opportunity to influence the product roadmap. Offer ends October 30, 2026.

Total rent collected from all units before any expenses are deducted. This is your total rental income for a property or portfolio.

An organization that governs a community of properties and collects fees for maintenance of common areas. HOA fees are tax-deductible rental property expenses.

A legal agreement between you (landlord) and a tenant that grants the tenant the right to occupy a unit for a specified period in exchange for rent payments. Leases include start dates, end dates, monthly rent, and security deposits.

An automatic reminder that appears 30, 60, and 90 days before a lease ends. These alerts help you plan for lease renewals or find new tenants.

A business structure (like an LLC) that has legal rights and responsibilities separate from its owners. Using legal entities for property ownership provides liability protection and tax benefits.

A legal business entity that owns your properties. An LLC provides liability protection by separating your personal assets from your business assets. In this system, every property must be linked to an LLC.

The portion of your mortgage payment that goes toward interest charges. Loan interest is tax-deductible on Schedule E. The system can automatically split loan payments into interest and principal based on your configured percentage.

Monthly mortgage payment on a property. Loan payments consist of principal (not tax-deductible) and interest (tax-deductible). You can configure the interest percentage for accurate tax reporting.

Ongoing work to keep properties in good condition. Maintenance tasks can be routine (HVAC filter changes) or reactive (fixing broken items). Maintenance costs are tracked separately from expenses for planning purposes.

A significant software update that includes major new features or breaking changes. Major releases increment the first version number (e.g., v1.0.0 to v2.0.0) and are highlighted in the changelog.

A residential property with multiple separate housing units, such as duplexes, triplexes, or apartment buildings. Each unit can be rented to different tenants.

Gross rent minus operating expenses (excluding loan payments and depreciation). NOI shows the profitability of your property before financing costs.

An expense that cannot be deducted from your taxes. Examples include mortgage principal payments and capital improvements (which must be depreciated over time instead).

A financial report showing income (rent) and expenses for a property over a period of time. The P&L helps you understand profitability and cash flow. The system provides monthly P&L grids for year-at-a-glance analysis.

Moving from a higher-tier plan to a lower-tier plan. Downgrades take effect at the end of your current billing period. Your data is never deleted, but you may lose access to premium features.

Moving from a lower-tier plan to a higher-tier plan (e.g., Free to Investor, or Investor to Pro). Upgrades take effect immediately and unlock additional features and property limits.

The portion of your mortgage payment that reduces the loan balance. Principal payments are NOT tax-deductible but build equity in your property.

A real estate asset (building or land) owned by an LLC. Properties can be single-family homes, multi-family buildings, condos, townhomes, or commercial spaces. Each property can contain multiple units.

Insurance coverage that protects your property against damage, liability, and loss. Common types include landlord insurance, hazard insurance, and liability insurance. Premiums are tax-deductible.

The maximum number of properties you can add based on your subscription plan. Free plan allows 1 property, while all paid plans (Investor, Pro, Enterprise) include unlimited properties.

An annual tax levied by local government based on the assessed value of your property. Property taxes are typically due once or twice per year and are tax-deductible expenses.

Your unique code that you can share with friends. When someone signs up using your code and adds their first property, you both receive 1 month (30 days) of free service. Find your code on the Subscription page.

Free service time earned through successful referrals. Each successful referral gives you 30 days of credit. You can accumulate up to 5 referrals for a maximum of 150 days (5 months) of free service.

A numbered identifier for each software release using semantic versioning (Major.Minor.Patch). For example, v1.2.3 means major version 1, minor version 2, patch 3. Each version is documented in the changelog.

Monthly payment from a tenant for occupying a unit. Rent payments can have statuses: Paid (full amount received), Partial (some amount received), Late (overdue), or Pending (not yet due).

Work that keeps your property in good operating condition without adding significant value. Repairs are immediately tax-deductible. Examples: fixing a leak, replacing a broken window, patching drywall.

A planned feature or improvement listed on the public product roadmap. Roadmap items show status (Planned, In Progress, Completed), estimated timeline, and vote counts. Vote on items to influence priorities.

A web feed format that allows you to subscribe to changelog updates in your RSS reader. Click "Subscribe to RSS" on the What's New page to get automatic notifications of new releases.

IRS tax form used to report rental property income and expenses. Schedule E has specific line items for different expense categories. The system generates Schedule E summaries from your expense log.

Money paid by the tenant at the start of a lease, held by the landlord to cover potential damages or unpaid rent. Security deposits are typically returned at the end of the lease if the unit is in good condition.

A versioning system using Major.Minor.Patch format (e.g., 1.2.3). Major changes (1.0.0) include breaking changes, minor changes (1.1.0) add features, and patches (1.0.1) fix bugs.

A standalone residential property designed for one family. Single-family homes typically have one unit and are rented to one tenant or family.

The tier of service you subscribe to: Free (1 property, basic features), Investor ($12/month annual, unlimited properties), Pro ($25/month annual, advanced analytics), or Enterprise (custom pricing). Your plan determines property limits, features, and vote weight.

The current state of your subscription: Active (paid and current), Trial (in 30-day trial), Expired (payment failed), Cancelled (will end at period end), or Pending Transition (changing plans).

A work item that needs to be completed, such as maintenance, inspections, or administrative work. Tasks have types, priorities, due dates, and can track estimated vs actual costs.

An expense that can be subtracted from your rental income to reduce taxable income. Most property expenses are deductible, including repairs, maintenance, utilities, insurance, property tax, and loan interest.

A summary of your rental income and expenses formatted for tax filing. The system generates Schedule E-style reports that you can give to your accountant or use for tax preparation.

A person or entity that rents a unit from you. Tenants have contact information stored in the system and are linked to lease agreements.

A multi-story home that shares walls with adjacent properties. Townhomes may have HOA fees and are often part of a planned community.

A 30-day free trial of the Investor plan provided to all new users. During the trial, you have full access to Investor features. After the trial ends, you're moved to the Free plan unless you upgrade.

The process of a tenant moving out and a new tenant moving in. Turnover typically involves cleaning, repairs, and a vacancy period. Turnover costs can include advertising, screening, and make-ready expenses.

An individual rentable space within a property. For example, Apartment 1A, Apartment 1B, or Unit 101. Each unit has its own rent amount, tenant, and lease agreement.

A period when a unit is unoccupied and not generating rent. Vacancy is a normal part of rental property ownership and should be factored into financial projections.

The multiplier applied to your votes on roadmap items and feedback. Free users get 1x weight, paid users (Investor/Pro) get 2x weight, and Founding Members get 3x weight. This ensures committed users have a stronger voice.

Another term for a maintenance task. Work orders document what needs to be done, who will do it, estimated costs, and completion status.