diff --git a/netbox/dcim/models/devices.py b/netbox/dcim/models/devices.py
index 9852f76e1..e48f8f57a 100644
--- a/netbox/dcim/models/devices.py
+++ b/netbox/dcim/models/devices.py
@@ -646,7 +646,7 @@ class Device(PrimaryModel, ConfigContextModel):
         to='extras.ImageAttachment'
     )
     ipaddressfunctions = GenericRelation(
-        to='ipam.IPAddressFunction'
+        to='ipam.IPAddressFunctionAssignments'
     )
 
     objects = ConfigContextModelQuerySet.as_manager()
@@ -1236,7 +1236,7 @@ class VirtualDeviceContext(PrimaryModel):
 
     # Generic relation
     ipaddressfunctions = GenericRelation(
-        to='ipam.IPAddressFunction'
+        to='ipam.IPAddressFunctionAssignments'
     )
 
     class Meta:
diff --git a/netbox/ipam/migrations/0068_rename_ipaddressfunction_ipaddressfunctionassignments_and_more.py b/netbox/ipam/migrations/0068_rename_ipaddressfunction_ipaddressfunctionassignments_and_more.py
new file mode 100644
index 000000000..ed3529af6
--- /dev/null
+++ b/netbox/ipam/migrations/0068_rename_ipaddressfunction_ipaddressfunctionassignments_and_more.py
@@ -0,0 +1,23 @@
+# Generated by Django 4.1.9 on 2023-07-06 20:51
+
+from django.db import migrations
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('extras', '0092_delete_jobresult'),
+        ('contenttypes', '0002_remove_content_type_name'),
+        ('ipam', '0067_ipaddressfunction_and_more'),
+    ]
+
+    operations = [
+        migrations.RenameModel(
+            old_name='IPAddressFunction',
+            new_name='IPAddressFunctionAssignments',
+        ),
+        migrations.AlterModelOptions(
+            name='ipaddressfunctionassignments',
+            options={'ordering': ('function',), 'verbose_name': 'IP Address Function Assignments'},
+        ),
+    ]
diff --git a/netbox/ipam/models/__init__.py b/netbox/ipam/models/__init__.py
index a00919ee0..2f969f1fd 100644
--- a/netbox/ipam/models/__init__.py
+++ b/netbox/ipam/models/__init__.py
@@ -12,6 +12,7 @@ __all__ = (
     'ASNRange',
     'Aggregate',
     'IPAddress',
+    'IPAddressFunctionAssignments',
     'IPRange',
     'FHRPGroup',
     'FHRPGroupAssignment',
diff --git a/netbox/ipam/models/ip.py b/netbox/ipam/models/ip.py
index 4fedf714c..d1eace08a 100644
--- a/netbox/ipam/models/ip.py
+++ b/netbox/ipam/models/ip.py
@@ -20,7 +20,7 @@ from netbox.models import OrganizationalModel, PrimaryModel, NetBoxModel
 __all__ = (
     'Aggregate',
     'IPAddress',
-    'IPAddressFunction',
+    'IPAddressFunctionAssignments',
     'IPRange',
     'Prefix',
     'RIR',
@@ -668,7 +668,7 @@ class IPRange(PrimaryModel):
         return int(float(child_count) / self.size * 100)
 
 
-class IPAddressFunction(NetBoxModel):
+class IPAddressFunctionAssignments(NetBoxModel):
     assigned_object_type = models.ForeignKey(
         to=ContentType,
         limit_choices_to=IPADDRESS_FUNCTION_ASSIGNMENT_MODELS,
@@ -694,7 +694,7 @@ class IPAddressFunction(NetBoxModel):
 
     class Meta:
         ordering = ('function',)
-        verbose_name = 'IP Address Function'
+        verbose_name = 'IP Address Function Assignments'
         constraints = (
             models.UniqueConstraint(
                 fields=('assigned_object_type', 'assigned_object_id', 'function'),
diff --git a/netbox/virtualization/models/virtualmachines.py b/netbox/virtualization/models/virtualmachines.py
index 5d6a4ea29..06fb6277c 100644
--- a/netbox/virtualization/models/virtualmachines.py
+++ b/netbox/virtualization/models/virtualmachines.py
@@ -125,7 +125,7 @@ class VirtualMachine(PrimaryModel, ConfigContextModel):
         to='tenancy.ContactAssignment'
     )
     ipaddressfunctions = GenericRelation(
-        to='ipam.IPAddressFunction'
+        to='ipam.IPAddressFunctionAssignments'
     )
 
     objects = ConfigContextModelQuerySet.as_manager()