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Glossary of Real Estate Terms
This Glossary has
been provided as a courtesy to assist you in
gathering information relative to real estate.
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A
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B
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C
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D
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E
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F
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G
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H
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I
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J
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K
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L
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M
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N
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O
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P
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Q
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R
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S
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T
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U
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V
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W
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X
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Y
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Z
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V |
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Vacancy Factor:
The amount of gross revenue that pro forma
income statements anticipate will be lost
because of vacancies, often expressed as a
percentage of the total rentable square footage
available in a building or project. |
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Vacancy Rate:
The total amount of available space compared to
the total inventory of space and expressed as a
percentage. This is calculated by multiplying
the vacant space times 100 and then dividing it
by the total inventory. |
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Vacant Space:
Refers to existing tenant space currently being
marketed for lease. This excludes space
available for sublease. |
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Variance:
Refers to permission that allows a property
owner to depart from the literal requirements of
a
zoning ordinance
that, because of special circumstances, cause a
unique hardship. Included would be such things
as the particular physical surroundings, shape
or topographical condition of the property and
when compliance would result in a practical
difficulty and would deprive the owner of the
reasonable use of the property. |
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