The Editing Mode is a useful feature you can use to help you to modify or translate labels. These changes when made from the Property Manager pages are only specific to the currently active property unless the Global Editing mode is enabled.
When Editing Mode is enabled, some labels on the page can be seen to have dotted underlines. When these underlines are clicked then that label can be edited for this property.
For example I can change "Resource/property types" to a more guest friendly "Room tyoes"
Note that you can do this in multiple languages, so if there's a string that you've entered in one language, and you want it shown differently in another language you can simply switch to the new language, change the string and your change will be relevant in this new language.