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Property

Bare shell

A bare shell refers to the state of a property after construction has been completed, and basic building services have been installed. This includes flooring options such as tiles, mosaics, cement, or granite, as well as plastered walls. Additionally, a bare shell may also include functional pantry and toilet facilities.

Rack-rent

is known as a rack rent. A term commonly used in the real estate industry, rack rent refers to the maximum rent that can be charged for a property based on its current marke...

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HVAC

When discussing the infrastructure of a building, one term that often arises is HVAC, which stands for heating, ventilation, and air conditioning. This system is responsible...

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Open market value

In the realm of finance, we often come across the term 'best price'. This refers to the highest amount that can be obtained for a property when it is sold under fair and unb...

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Yield up

When a tenant vacates a property at the end of their lease, they are relinquishing possession. This means they are giving up their right to occupy the space and are returnin...

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