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Break Option

A provision that is contained in a specific type of leases whereby the tenant can terminate the lease on non-fault...

Take-Back

Rental income that is lost due to expiry/ expiration of a lease contract, exercise of a break option, an agreed...

Take-Up

The gross rental turnover that an owner of a property generates from letting it (to others) or occupying it. In...

Current Gross Rent

The current rental that a lessee/ tenant pays to the landlord as specified by the terms of the lease. It...

Passing Rent

The current rental that a lessee/ tenant pays to the landlord as specified by the terms of the lease. It...

Open Market Value

The opinion of valuation experts/ valuers as to the best price/ consideration at which the sale of an interest in...

ERV

It stands for estimated rental value; the opinion of valuation experts/ valuers as to the open market rent, which on...

Estimated Rental Value

The opinion of valuation experts/ valuers as to the open market rent, which on the date of valuation (of a...

Deficiency Judgment

The amount for which a mortgagor/ borrower facing foreclosure is held personally liable if the sale proceeds of the foreclosed...

Carrying Costs

The overall costs that are incidental to real estate property ownership. These costs include maintenance expenses, insurance costs, taxes and...