A useful rule of thumb to estimate market value of income producing residential property. The multiplier is derived by using comparable sales divided by the actual or estimated monthly rentals and arriving at an acceptable average.
A lease agreement, usually residential, in which the tenant (lessee) pays a fixed periodic rent, and the landlord (lessor) pays all other expenses related to ownership of the property including taxes, insurance, maintenance, utilities, and assessments.
A common forestry and land survey term that is equivalent to 66 linear feet. Often referred to as simply "chain", this term is more formally known as the Gunter's or surveyor's chain. A chain is broken into 100 equal parts, or links. One (1) mile is equal to 80 chains. A one (1) mile square piece of land (one section or 640 acres) is 80 chains on each side. Although an engineer's or Ramsden's chain is also used to measure length in surveys, the generic term "chain" when used in reference to land measurements refers to the unit of length (66 feet) represented by the Gunter's or surveyor's chain. For more chain conversions, equivalents, and examples, see Chain equivalents and conversions or the various Converting chains to... examples.