Mill rate is utilized by local taxing authorities to show the rate of local property tax assessment in mills (which is one tenth of one cent) per dollar of accessed value. The mill rate may be perceived as dollars of tax per one thousand dollars of assessed valuation.
Lessor is the person who rents property to another under a lease agreement. The lessor is also known as landlord.
Investment manager is an organization or entity which has discretion for obtaining, managing and selling individual real estate investments or commingled fund assets.
The imputed interest is actually the implied interest. In a mortgage that states an insufficient interest rate, the income tax or some regulation body will impute that the rate is higher, and the principal is less.
Head lease is an arrangement made by the head tenant who leases the entire property from the owner and then releases the property to other interested tenants.
A guaranteed return is a leasing arrangement where the landlord's income is under guarantee by virtue of the existence of a net lease. It can also refer to a situation where a vendor or third party provides a guarantee of a minimum cash flow from a property.
Grace period is the period during which one party may fail to perform without being considered in default.
A full service lease is a lease under which the landlord provides all services to the tenant, including janitorial services within the tenant's suite.
Escrow is defined as property and related documents to be exchanged between transacting parties held by a third party, pending the satisfaction of the stipulated conditions.
Encroachment refers to a building, a part of a building or any other construction that obstructs or physically intrudes upon or trespasses upon the property of another person.