Rental Concession
Definition of "Rental concession"
Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of the owner to derive bank financing, induce a large retailer to relocate, or stimulate a longer term lease with the tenant. A concession may also be in the form of one extra month of rental free for every two years. The property's value is worth less because the rental income base is lower.
Popular Real Estate Terms
Individual who will receive an inheritance upon the death of another. The proceeds of an insurance policy may be in a lump sum annuity. Real estate also passes to the beneficiary. ...
The seller disclosure is a statement made in good faith regarding the condition of the home he/she is trying to sell. There is a seller disclosure form – called “Form 17” ...
Insurance or maintenance policy taken out by a buyer of real or personal property. ...
A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...
Expenditures incurred building a structure, including material and labor. ...
Index of the costs to construct residential properties. ...
Generation X, also known as Gen X , is the generational extract of Americans that are sandwiched between the Baby Boomer Generation and the Millennial generation (also called ...
Income derived from a collection of asset investments. Real property investments produce rental and lease payment income. Investments in mortgages and other long term debt instruments ...
Legal dictate that must exist for property to be owned as joint tenants. ...
Have a question or comment?
We're here to help.