This is an agreement where the guarantor provides collateral to ensure the satisfaction of the debt of another or perform the responsibilities of another in the event that the debtor fails to do so. In this agreement, there is a...
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Debt service
Debt service is the total amount of mortgage, auto, credit card, and other debt you must pay during a given period.
Experiential Retail
This is the notion that although people buy goods online, they would still go after experiences at brick-and-mortar locations. Such experiences are eating out at restaurants, visiting flagship stores, doing yoga, and going to the...
Cost Of Occupancy
This is the cost needed to assume and maintain the occupancy of a certain space. It includes rent or mortgage payments and recurring costs like repairs, real estate taxes, operating expenses, and other costs that are a direct...
Inflation
This is the annual rate at which consumer prices rise over a specific period of time.
Floor Plate
This refers to an entire floor of a building. Floor plate is typically used when discussing square footage or variations in the shape and size of floors within a building.
Curtailment
This is a kind of prepayment that decreases an outstanding principle balance on a mortgage loan by repaying a lump sum amount or increasing an individual's monthly payment. This will, in turn, decrease the loan maturity period.
house closing
Also known as closing, house closing is the final transfer of the purchase of a house from the seller to the buyer. This happens after both have met all the terms and conditions stipulated in their contract and the deed has been...
Industrial
This refers to commercial properties utilized for the purposes of distribution, manufacturing, and production.
Escalation clause
Found in leases, this is a section allowing for rent to be increased in order to reflect changes in expenses that the landlord pays. Those include operating costs and real estate taxes.
