Compensation
Money and nonmonetary consideration given to employees for work performed. The reward will typically be increased the better the job is done. Salary and fringe benefits are a major cost of a business so the amount paid must be within the financial abilities of the entity. Compensation depends on union contract and must not violate any laws.
Popular Real Estate Terms
Justifiable and fair amount for a real estate transaction based on the conditions and limitations involved in the exchange. ...
The consolidation of items that have been considered a part of property but are not actually annexed, secured, or joined to it. ...
If you’re a renter and you own a pet, you might be familiar with the term pet rent. There has been a lot of discussion about the meaning of pet rent and controversy as it isn’t ...
Ownership rights to real or other types of tangible or intangible property. Property rights include exclusive occupancy, possession, use, and the right of disposition. Individuals groups, ...
The net operating income definition is the total profit generated by a business or real estate development after the necessary operating expenses are taken out. In order to determine the ...
Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of ...
Mortgage clause causing the mortgagor to pledge additional properties, mortgaged or not, as collateral to the present mortgage. Failure to pay any of the other mortgages causes a ...
An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a depreciable asset under the IRS tax code. ...
An accessory building is an outdoor structure used by the occupants of the main building or house. They have different functions and can be detached or attached to the main building on the ...
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