REAL ESTATE FLUCTUATIONS Short-term variations in real estate prices or rents (usually lasting anywhere from one day to a few months) caused by natural hazards (such as tornadoes, hurricanes, floods, earthquakes, and wildfires) or boosts or shocks to the local…Read more →

REAL ESTATE BROKER A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and…Read more →

RAW SPACE Unimproved shell space in a building.Read more →

RANGE The maximum distance consumers are willing to travel to purchase a good or service from a given establishment or location. Hence, the boundary or outer limits of the market area circumscribed about a location at which a good or…Read more →

QUALIFIED PLAN Any employee benefit plan that is qualified by the IRS as a tax-exempt plan. Among other requirements, the plan’s assets must be placed in trust for the sole benefit of the employees covered by the plan.Read more →

PAYMENT CAP A legal limit on the amount a monthly payment can increase on an adjustable-rate mortgage.Read more →

PARTIAL TAKING The taking of part of an owner’s property under the laws of eminent domain.Read more →

PARTIAL INTEREST A shared ownership in a piece of property. May be divided among two or more parties.Read more →

OCCUPANCY RATE The percentage of properties in a given area that are occupied.Read more →

OCCUPANCY COST The actual dollars paid out by the tenant to occupy the space. It can be expressed in either pre-tax or after-tax dollars.Read more →