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
Person or entity that has title or a right to something which is typically being held. Examples are real property, corporation, and personal property. Ownership of property may be held by ...
Incontrovertible reality forcing a judge in a trial to find evidence to the contrary unsupportable. ...
Past action of a property owner or tenant. ...
Suppose you are a house hunter, buyer, seller, realtor, or investor. In that case, you've probably come across the term "Gross Rent Multiplier" or GRM. But what exactly is it? Let's shed ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Received immediately when an investment is made or contract signed. For example, a real estate limited partnership may require that an investor pay a 3% sale fee at the time of initial ...
The meaning of undue influence revolves around a control one individual can exert upon another to persuade them to do something that won’t be beneficial for the influenced party. ...
A corporation that owns housing units and whose tenants purchase shares in the corporation equivalent to the value of their housing unit. Also called co-ops. ...
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
Have a question or comment?
We're here to help.