Real Estate Glossary

Real Estate Glossary

There are 4 entries in this glossary.
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Glossaries

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Term Definition
Open Space

The total area of land and/or water not improved by a building, structure, street, road or parking area, or containing only, such improvements as are complementary, necessary or appropriate to the use and enjoyment of the open area.

Operating Cost Escalation

Refers to the clause in a lease agreement used to adjust rents over the term of a lease.

Operating Expenses

The actual cost of operating income-producing property, including utilities and similar day-to-day expensed, taxes, insurance and reserves for the replacement of items that wear out.

Ownership

Rights to the use, enjoyment and alienation of property to the exclusion of others.

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