Rental Concession
Definition of "Rental concession"
Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of the owner to derive bank financing, induce a large retailer to relocate, or stimulate a longer term lease with the tenant. A concession may also be in the form of one extra month of rental free for every two years. The property's value is worth less because the rental income base is lower.
Popular Real Estate Terms
The word ““doc”” is an abbreviation for a document. Typically, a doc defines any recorded materials, including letters, photographs, inscriptions, text, reproducible ...
A capitalization method which divides a properties first year net operating income by an estimated general capitalization rate to develop a total property estimate. ...
Use of other people's money (OPM) in an attempt to maximize the return but at high risk. The use of leverage in real estate investing is a way to maximize yield on a small down payment. ...
A clause inserted in a mortgage agreement requiring a future buyer of the subject property to obtain the consent of the lending institution prior to assuming the mortgage. In this ...
Water/plaster mix used as a surface for walls and ceilings. ...
The definition of restraint on alienation is a limitation on the right to convey or transfer owned real estate to another party. This restriction on conveying property has an effect that ...
person designating an agent to act for him. Primary individual having full financial liability. Amount being risked in a real estate investment. Owner of a real estate business. ...
Considering future occurrences that may possibly arise. ...
The definition of a testator in real estate is an individual who makes or leaves a valid will detailing how their possessions are to be divided or distributed among their heirs. The ...
Have a question or comment?
We're here to help.