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Glossary
Plain-English definitions of the terms used across Olympus. Where a term is a third-party system, the Integrations Index has more detail.
Core concepts
| Term | Meaning |
|---|---|
| Booking platform | The shared public app that every operator's marketing sites hand off to for viewings and reservations. One platform serves all operators and brands. |
| Custom field | An extra data field a building can add to a tracker without any code change. |
| Deal sheet | The detailed record of a customer and their tenancy, rent, term, occupiers, deposit and more. The central record the trackers and the rest of the lettings process work against. |
| Development / Building / Property | Used interchangeably for a site an operator runs. How they're grouped is the operator's choice, Way of Life, for example, splits its into a Multifamily and a Students portfolio. |
| Everest reference | A unit's identifier from Everest, used as the join key between the marketing sites, the booking forms and Portal. |
| Olympus | The platform itself, the connected applications that run a residential lettings business for the operators on it. |
| Operator | A property business that uses Olympus (for example, Way of Life). In the platform's multi-tenancy, an operator is a "tenant" whose data is isolated from every other operator's. |
| Reservation | A hold placed on a unit for an applicant before the deal sheet is set up. |
| Resident / Customer | A person renting a unit, a "tenant" in the everyday lettings sense. "Customer" is the record in the system; "resident" is the person. |
| Site team | The on-site staff at a building who work the trackers and readiness checklists. |
| Tenant | Used two ways. On the platform, a tenant is an operator whose data is isolated on Olympus. In lettings, a tenant is a resident living in a building. These docs say "operator" or "resident" where it could be unclear. |
| Tracker | A stage-based worklist site teams use to progress tenancies, Move-In, Renewals and Move-Out. |
| Unit | An individual apartment within a building. |
| White-label site | A development's own standalone brand website (for example The Eades or The Draper), separate from the main wayoflife.com portfolio site. |
Way of Life's developments (example)
Way of Life operates the following developments across its Multifamily and Students portfolios. These are specific to Way of Life, not part of the platform, another operator would bring their own, and the list changes as developments are added:
Balfron Tower · Riverstone Heights · The Draper · The Eades · The Gessner · The Kell · The Lansdowne · The Sessile · The Wullcomb · Vida House
Lettings & tenancy terms
| Term | Meaning |
|---|---|
| Affordability (HIAR) | The income check a prospect must pass to reserve. HIAR (Household Income Affordability Requirement) is the income needed, met by the standard route (2.5x annual rent), a key-worker route, or a guarantor (3x rent). |
| Anniversary date | The tenancy end/renewal date. Renewals work begins a set number of days before it (100 by default). |
| Dilapidations | Damage or wear beyond fair use, assessed at move-out and potentially deducted from the deposit. |
| EOT | End of Tenancy. |
| ERV | Estimated Rental Value, the target market rent for a unit. |
| Guarantor | Someone (or a professional guarantor provider) who covers the rent if the resident can't. Used as an affordability route at reservation. |
| Holding fee | A fee (one week's rent) a prospect pays to hold a home when reserving, offset against move-in costs. |
| R2R (Right to Rent) | The legal check that a resident is entitled to rent in the UK. |
| Relet | Whether a vacated unit has been let to a new resident. |
| Section 13 (Form 4A) | The statutory notice a landlord serves to propose a rent increase at renewal. Olympus can generate and send the official Form 4A. |
| TDS deposit | A traditional tenancy deposit protected in a scheme, as opposed to a Reposit. Chosen by the prospect at reservation. |
| Viewing | A prospect's appointment to see a home (in person, video call, or group), booked through the public forms and Calendly. |
| Void | A period where a unit sits empty and earns no rent, the gap between one tenancy ending and the next beginning. Keeping voids low is a core operator goal. |
External systems (see Integrations Index)
| Term | What it is |
|---|---|
| Calendly | Scheduling tool used to book and confirm viewings from the public forms. |
| Curator | Social-media wall (an Instagram feed) embedded on the marketing sites. |
| Fixflo | Repairs and maintenance reporting. |
| Firebase | Google's service used to deliver push notifications to residents' phones. |
| Google Maps | Location and neighbourhood maps on the marketing sites. |
| HubSpot | The CRM used to track leads and deals. |
| Inventory Hive | Inventory and inspection software used for check-in/check-out reports. |
| Meilisearch | The search engine powering fast unit/property search inside the apps. |
| Qube | A property-management and accounting system. Olympus syncs tenancies, charges and payments to it (Way of Life's finance system). |
| Rent Profile | A tenancy/referencing record system Olympus links out to. |
| Reposit | A deposit-replacement product, residents pay a smaller fee instead of a full cash deposit. |
| Rightmove / Zoopla / On The Market | The property portals adverts are published to. |
| Storyblok | The content management system behind an operator's public website. |
| Tableau | The business-intelligence tool used for reporting dashboards. |