Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
are typically broken down into five major subcategories: commercial, industrial, hotel/motel, recreational, and institutional.
|
non residential properties
|
|
|
includes both office buildings and retial space
|
commericial real estate
|
|
|
refers to the price that must be paid by a potential tenant to use a particular type of space under then current market conditions.
|
market rent
|
|
|
the initial rent that must be paid under the lease contract is usually a specified dollar amount, which we refer to as the
|
minimum rent or base rent
|
|
|
in some retail leases, rents also may be fully or partially determined by an inidicator of retail sales performances.
|
percentage rent
|
|
|
the dollar amount by which the total rent exceeds the base rent is referred to as
|
overage rent
|
|
|
billing tenants for a pro rata share of those expenses designated in the lease as recoverable
|
recoveries
|
|
|
move in allowances or rent reductions for a specified time.
|
concessions
|
|
|
tenants may have the right to rent contigous space and/or any space in the building when it becomes available
|
right of first reusual
|
|
|
purpose is to grant one or more tenants the right to display a name in side or outside the building.
|
signage clause
|
|
|
rentable area per floor/usable area per floor =
|
load factor per floor
|
|
|
specifies that the tenant mus achieve a certain level of sales per square foot within a specific period of time, otherwise either the property owner or the tenant may terminate the lease
|
kick out clase
|
|
|
a demand commonly made by tenants who require the continued presences of a certain anchor or othher tenats as a condition of making a lease with the property owner.
|
co tenancy clause
|
|
|
tenants agree not to lease any additonal space int he same market/trade area specifically defined
|
radius clasue
|
