Which term describes the amount of rental income that is typically expected to be received from a property?

The amount of rental income that is typically expected to be received from a property is best described as effective gross income. This term represents the total income a property is projected to generate, accounting for factors such as vacancy rates and collection losses. It reflects a more realistic picture of the rental income that the property owner can expect to receive, as it includes adjustments for occupancy levels.

While net operating income pertains to the income after operating expenses are deducted, it does not specifically highlight expected rental income without considering those expenses. The market rental rate refers to the price that similar properties are commanding in the current market, but it does not encompass actual operational income calculations. Contract rental value is the income specified in a lease agreement, which may not accurately reflect market conditions or the property's full income potential. Therefore, effective gross income captures the expected scenario for rental income more comprehensively.