Real Estate Glossary

Real Estate Glossary

There are 6 entries in this glossary.
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Glossaries

Term Main definition
Vacancy Factor

The amount of gross revenue lost because of vacant space; an allowance item on pro-forma income statements, usually calculated as a percentage of gross revenue.

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Vacancy Rate

A measurement expressed as a percentage of the total amount of available space compared to the total inventory of space. Computed by multiplying vacant space times 100 and divided by total inventory.

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Vacant Space

Existing space which is currently being marketed for sale or lease, excluding sublet space.

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Variance

A permit that grants a property owner relief from certain provisions of a zoning ordinance when, because of the particular physical surroundings, shape or topographical condition of the property, compliance would result in a particular hardship or practical difficulty which would deprive the owner of the reasonable use of the land or building involved.

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Vendee

Purchaser or "buyer," generally used in real property context.

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Vendor

The person who transfers property by sale. Another word for "seller." Commonly used in land contract sales.

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