A
Real estate dictionary - Letter A
Recall:
Dismissal refers to the revocation of an appointment, for example of administrators in a community of owners.
Demolition value:
Demolition value is the value of the remaining property after the demolition of a building.
Fiscal Code (AO):
The Fiscal Code regulates the general principles of tax collection and tax administration.
Marking:
Marking describes the identification of property boundaries, usually by means of boundary stones or other markers.
Settlement clause:
A settlement clause is a contractual provision for the final settlement of certain rights or claims.
Acceptance:
Acceptance is the formal handover of the finished building from the construction company to the client.
Depreciation and amortization (AfA):
The depreciation (AfA) refers to the tax deduction of the loss in value of a property over a certain period of time.
Old building:
An old building is a building that was constructed before a specified date, often before 1950.
Pension scheme:
The retirement provision refers to the use of real estate as a building block of retirement provisione.g. by renting or selling.
Amortization:
Amortization describes the period in which the investment costs of a property are covered by income.
Escrow account:
An escrow account is a trust account that is usually held by notaries for the settlement of real estate transactions.
Right of purchase:
The purchase right is a contractual right to acquire a property at a specified time.
Annuity:
An annuity is a constant annual installment for the repayment of a loan, consisting of interest and repayment components.
Acquisition costs:
Acquisition costs comprise the total costs incurred when purchasing a property, including ancillary costs.
Acquisition-related production costs:
Acquisition-related production costs are expenses that are incurred within three years of the purchase of a property for maintenance or modernization measures and exceed 15% of the acquisition costs. They are not immediately tax-deductible as income-related expenses, but must be spread over the depreciation of the building. This includes, for example, renovations, conversions or refurbishments that significantly improve the standard of the property. This regulation is intended to prevent extensive modernizations from being claimed as immediately deductible costs after purchase.
Connection fees:
Connection charges are costs for connecting a property to public utilities.
Apartment (App.):
An apartment is a small residential unit with one or two rooms.
Notice of conveyance:
The priority notice of conveyance is an entry in the land register that secures the future transfer of ownership to the buyer.
Equipment (Ausst.):
Equipment refers to the structural and technical features of a building or apartment.
Payment requirements:
Disbursement requirements are conditions that must be met before a bank disburses a loan.
Aval (surety):
A guarantee is a contractual assumption of a financial obligation by a bank or a third party.
B
Real estate dictionary - Letter B
Balcony:
A balcony is an outdoor seating area on an apartment or house that is open to the outside.
Building application:
A building application is an application for approval of a building project to the responsible building authority.
Building completion insurance:
Construction completion insurance protects builders against financial losses if the contractor becomes insolvent during construction or does not complete the building. It covers the additional costs for the completion of the construction project by another provider and thus protects the client against risks.
Building permit:
The building permit is an official permission from the building authorities to carry out a building project.
Building owner:
The client is the person or institution that commissions and finances a construction project.
Building child benefit:
The Baukindergeld is a state subsidy for families who are buying their first home.
Construction costs:
Construction costs are the total costs incurred in the construction of a building, including planning and execution.
Building cost index:
The construction cost index reflects the price development of construction services and materials.
Building performance insurance:
Construction work insurance covers damage during the construction phase.
Building load:
A building charge is an obligation under public law on the part of the property owner to do or refrain from doing something.
Urban land-use planning:
Urban land-use planning is a planning procedure that controls urban development through development plans.
Construction defects:
Construction defects are faults or defects in the building that occur during or after the construction phase.
Building regulations law:
The building code regulates the requirements for buildings to protect public safety.
Building society savings (building society savings contract):
Building society savings (building society savings contract) is a combination of savings and construction funding that enables you to accumulate long-term equity for the purchase, construction or renovation of a property. The saver makes regular payments into a building society savings contract and receives a low-interest loan at the end of the savings phase, which can be used for residential purposes. Building society savings offer the advantages of fixed interest rates and state subsidies such as the housing construction premium or the employee savings allowance. It is a popular method for long-term financing of real estate projects.
Building site:
A building site is a plot of land that is intended and approved for development.
Property developer:
A property developer is a company that plans, develops and sells real estate projects. It handles the entire process, from the search for a plot of land to the planning and completion of the property. The developer then sells the finished property to buyers, who generally do not have to carry out any construction work themselves. Buyers acquire the complete package of land and construction work directly from the developer.
Preliminary building application:
A preliminary building application is a provisional request to the building authority to clarify the eligibility for approval of a building project.
Building contract:
A construction contract is a contract between the client and the contractor for the construction of a building.
Development plan:
The development plan regulates the permitted structural uses of a property.
Fixed-term tenancy:
A fixed-term tenancy is a tenancy that has been concluded for a fixed period of time.
Lending limit:
The lending limit indicates the proportion of the property value up to which a bank will grant a mortgage.
Lending value:
The mortgage lending value is the value that the bank uses as the basis for granting a loan.
Power of attorney to debit:
A power of attorney to encumber is a power of attorney to register rights, e.g. mortgages, in the land register.
Standard land value:
The standard land value indicates the average price per square meter of a plot of land in a specific location. It is determined by expert committees based on actual purchase prices and is used to determine the value of land.
C
Real estate dictionary - Letter C
Brokerage fee:
The brokerage fee is the commission that a broker receives for his brokerage activities.
Crowdinvesting:
Crowdinvesting is a form of financing in which many small investors invest in a real estate project.
Cash flow:
Cash flow is the difference between the income and expenses of a real estate project.
Cap rate (capitalization rate):
The cap rate is the ratio of the net income of a property to the purchase price and serves as a yield indicator.
Cluster apartments:
Cluster apartments are a residential concept in which several residential units share a common area.
Co-investment:
A co-investment in real estate purchases refers to the joint investment of several parties in a property. The investors share the financial resources, risks and potential profits. This form of participation is often used in larger real estate projects or investment funds to reduce the equity of each investor and achieve greater purchasing power. Co-investments offer the opportunity to participate in lucrative real estate projects that could not be financed alone and allow risk to be spread.
Corporate Real Estate:
Corporate real estate refers to real estate used by companies for operational purposes.
Construction Management:
Construction management encompasses the planning, coordination and control of a construction project from conception to completion.
Change-of-Use:
Change of use refers to the conversion of a building, e.g. from office to living space.
Clear Height:
The clear height is the usable internal height of a building, particularly in warehouse and industrial properties.
Crowd investment:
Crowd investment in the real estate sector enables many small investors to jointly invest in real estate projects. Investors can contribute smaller amounts via online platforms in order to collectively build up a larger amount of capital that flows into real estate projects. Investors benefit from returns through rental income or increases in the value of the property. This form of investment is particularly attractive because it provides access to real estate markets with low entry sums. In return, investors also bear the risk of a possible loss if the project does not perform as expected.
Cluster analysis:
A cluster analysis is a method for segmenting real estate markets and target groups.
Cash-on-cash return:
The cash-on-cash return is the calculation of the return in relation to the equity capital employed.
Co-Living:
Co-living is a living concept in which residents share communal areas but live in separate residential units.
D
Real estate dictionary - Letter D
Attic apartment:
An attic apartment is an apartment on the top floor of a building, often with sloping ceilings.
Loans:
A loan is a loan that is taken out to finance a property.
Contribution margin:
The contribution margin is the amount that contributes to covering fixed costs after deducting variable costs.
Monument protection:
Monument protection Refers to the legal protection of historically valuable buildings.
Easement:
An easement is the right to use another person's property, e.g. a right of way.
Right in rem:
A right in rem is a right that concerns a direct relationship between a person and a property.
Semi-detached house:
A semi-detached house is a house that is connected to another half of the house by a common wall.
Duty to tolerate:
The duty to tolerate is the tenant's obligation to tolerate certain measures by the landlord.
Average rent:
The average rent is the average rent paid in a particular region or for a particular type of property.
Tolerance notice:
A toleration notice is a notice that prescribes the toleration of a construction measure or use.
Dynamic financing:
Dynamic financing is a financing model in which the repayment installments increase over time.
Double burden:
A double burden arises from parallel payments of rent and mortgage.
Discount:
A discount is a deduction from the nominal amount of a loan that is withheld when the loan is paid out.
Loft conversion:
A loft conversion describes the conversion of an unused loft space for residential purposes.
Permanent right of use:
The right of permanent use gives a person the right to use a property permanently without being the owner.
differential taxation:
Differential taxation is a taxation procedure that is often applied to commercial real estate sales.
Average yield:
The average yield is the average yield of a property per year.
Third-party usability:
Third-party usability describes the possibility of using a property for purposes other than the originally planned use.
Print model (3D) of a property:
A 3D printed model is a true-to-scale, physical replica of a property that is created using a 3D printer. It is used for the realistic visualization of architectural projects and helps to illustrate construction projects clearly, ideal for presentations and planning.
Roof lien:
The roof lien is a lien to secure a claim that is limited to the roof of a building.
Permanent right of residence:
The permanent right of residence gives you the right to live in a property for life without being the owner.
E
Real estate dictionary - Letter E
Corner plot:
A corner plot is a plot that borders on two streets and is often subject to special building regulations.
Spouse swing:
The spousal swing is a tax strategy in which real estate or other assets are transferred between spouses in order to make the most of tax allowances. This is often used when gifting or inheriting property to save on gift or inheritance tax. Repeated reciprocal transfers allow the tax-free allowances to be utilized several times, allowing assets to be transferred tax-free in stages. The spousal swing requires careful planning in order to take full advantage of the tax benefits.
Community of owners:
The community of owners is the community of owners in a residential complex who jointly manage the common property.
Condominium:
A condominium is owned separately by one owner and can be sold freely.
Equity:
Equity Refers to the financial resources that a buyer contributes from their own resources when purchasing a property without borrowing from banks or other lenders. It includes savings, securities or other assets. Equity reduces the financing risk and has a positive influence on the conditions of a loan, as a higher equity ratio usually leads to more favorable interest rates. As a rule, banks recommend contributing at least 20% of the purchase price as equity.
Own use:
The personal use is the right of the landlord to give notice to a tenant if he wishes to use the apartment himself.
Property:
Ownership refers to the legal right to dispose of an object or asset. It gives the owner complete control over the property, including the right to use, sell, rent or bequeath it. When purchasing real estate, the buyer acquires ownership of the property, thereby assuming all rights and obligations associated with the property. Ownership is protected by law and can only be restricted or withdrawn under certain conditions.
Unit value:
The assessed value is a taxable value of a property that is used to calculate the property tax.
Natural hazard insurance:
The natural hazard insurance is a supplementary insurance to homeowners' or household contents insurance that covers damage caused by natural events such as floods, earthquakes, landslides, avalanches or heavy rain. It offers financial protection if such extreme weather conditions or natural disasters damage property. As such damage is often very costly, natural hazard insurance offers important protection for homeowners in areas at risk.
Energy certificate:
The energy performance certificate is a document that shows the energy status of a building.
Heritable building plot:
A leasehold property is transferred for use as part of a heritable building right without the user becoming the owner.
Leasehold:
The heritable building right is the right to erect and use a building on someone else's land.
Inheritance tax:
The inheritance tax is a tax that is levied when assets or real estate are transferred to another person through inheritance. The amount of tax depends on the value of the inherited assets and the degree of kinship to the deceased. Close family members such as spouses or children have higher tax-free allowances and often pay less tax. Inheritance tax is intended to ensure that a portion of the inherited assets is transferred to the state.
Maintenance obligation:
The maintenance obligation is the owner's duty to keep the property in a proper condition.
Incidental acquisition costs:
Incidental acquisition costs are ancillary costs incurred when purchasing a property, e.g. notary and estate agent fees.
Yield value:
The income value of a property is calculated from the expected income.
Development costs:
Development costs are costs incurred in the development of a property, e.g. for supply lines.
Granny apartment:
A granny apartment is a separately usable apartment within a detached house.
De-leasing:
Tenant eviction refers to measures taken by the landlord to persuade tenants to move out, e.g. through building work.
Final financing:
Final financing is the last phase of real estate financing after interim financing.
First floor apartment:
A first floor apartment is located on the first floor and often has its own access or garden area.
Effective interest rate:
The effective interest rate is the actual interest payable on a real estate loan, including all ancillary costs.
Energy Saving Ordinance (EnEV):
The Energy Saving Ordinance regulates the energy requirements of buildings.
Expropriation:
Expropriation is a legal act in which a property is expropriated in favor of the public authorities.
F
Real estate dictionary - Letter F
Half-timbered house:
A half-timbered house is a building with a load-bearing timber frame and is often of historical value.
Fixed-rate loan:
A fixed-rate loan is a loan where only interest is paid during the term; repayment is made at the end.
Fireplace notice:
The fireplace certificate is issued by the chimney sweep and confirms the proper functioning of heating systems.
Parcel:
A parcel is the smallest unit of land recorded in the real estate register.
Parcel map:
A parcel map is an official map showing the location of land and buildings.
Subsidies:
Subsidies are public funds to support construction projects or energy-efficient renovations.
Borrowed capital:
Borrowed capital is the financing portion that is covered by loans or credits.
Third-party management:
Third-party management is the management of a property by an external property management company.
Land use plan:
The land use plan defines the planned use of land within a municipality.
Prefabricated cellar:
A prefabricated cellar is a prefabricated cellar that is assembled on site.
Maturity notice:
A due date notice is information about the due date of payments in connection with real estate transactions.
Prefabricated house:
A prefabricated house consists of prefabricated components that are assembled on the building site.
Moisture measurement:
Moisture measurement is a method for determining the moisture content in walls or floors.
Fixed-rate mortgage:
A fixed-rate mortgage is a mortgage with a fixed interest rate over the entire term.
Corridor distance:
The corridor distance is the distance that must be maintained between neighboring properties.
Foundation:
The foundation is the load-bearing structure on which a building rests.
Surface heating:
A panel heating system is a heating system that is integrated over a large area in floors or walls.
District heating:
District heating refers to the supply of energy via a central network that delivers heat to buildings.
Facade insulation:
Façade insulation is a measure to insulate the exterior walls of a building to improve energy efficiency.
Parcel number:
The parcel number is a unique number of a property in the real estate register.
G
Real estate dictionary - Letter G
Land register:
The land register is a public register that documents the ownership and encumbrances of real estate.
Land charge:
A land charge is an encumbrance in rem on a property to secure a loan.
Real estate transfer tax:
Real estate transfer tax is payable on the purchase of real estate.
Real estate lien:
A mortgage is a right that is entered in the land register as security for a loan, such as a mortgage.
Expert opinion:
An appraisal is a professional assessment of the value or condition of a property by an expert.
Common property:
Common property comprises the parts of a residential complex that are used jointly by all apartment owners.
Building insurance:
Buildings insurance covers damage to the building caused by fire, storm or mains water.
Commercial property:
A commercial property is used for commercial purposes, such as office buildings or warehouses.
Division of land:
The division of land is the division of a plot of land into several parcels.
Easement:
An easement is the encumbrance of a property in favor of another, e.g. through a right of way.
Garage Ordinance:
The Garage Ordinance is a legal regulation for the construction and use of garages.
Donation of land:
A gift of land is the transfer of land to another person free of charge.
Floor area ratio (GRZ):
The floor area ratio indicates the ratio of the buildable area of a property to the size of the property.
Property tax:
Property tax is paid annually by owners of land or real estate to the municipality.
Boundary development:
Boundary development refers to development along the property boundary, often with special building law requirements.
Building class:
The building class is the classification of buildings according to height and use, e.g. for fire protection.
Commercial rent:
Commercial rent is the rent for commercially used premises and is subject to different regulations than residential rent.
Trade tax:
Trade tax is levied on the income of a company and also indirectly affects real estate.
Building Energy Act (GEG):
The Building Energy Act regulates the energy requirements for buildings.
Property taxes:
Property taxes are levies that property owners must pay to the municipality, such as property tax or street cleaning fees.
H
Real estate dictionary - Letter H
The liability insurance protects the insured person against the financial consequences of unintentionally causing damage to third parties - be it personal injury, property damage or financial loss. It covers the costs of repairs, claims for damages or medical treatment caused by the insured person. It also defends against unjustified claims. Personal liability insurance is one of the most important types of insurance, as it protects against considerable financial burdens in the event of a claim.
House money:
The house allowance is the monthly advance payment for operating costs made by owners in a condominium owners' association.
House rules:
The house rules regulate how people live together in a residential complex or apartment building.
Property management:
The property management company manages a property on behalf of the owner.
Mortgage:
A mortgage is a charge on a property to secure a loan.
Mortgage interest rates:
Mortgage interest is the interest paid on a loan on a property.
Heating bill:
The heating bill is the billing of heating costs in an apartment building or a community of owners.
Janitor:
A janitor is responsible for minor maintenance work and looking after a building.
Household contents insurance:
The household contents insurance protects the entire contents of a household against damage caused by perils such as fire, burglary, storm, mains water or vandalism. Items such as furniture, electrical appliances, clothing and valuables are insured. In the event of a claim, the insurance covers the costs of repairs or replacement of damaged or stolen items. Household contents insurance thus offers financial protection against the financial consequences of unforeseen damage to your own property.
House connection costs:
The house connection costs are the costs for connecting a property to public supply lines.
Liability insurance:
Liability insurance covers damage caused by the property or the owner.
Height limit:
A height limit specifies the maximum height of a building.
Domestic authority:
Domestic authority gives the owner or tenant the right to regulate access to a property.
Liability of the administrator:
The administrator's liability relates to the administrator's legal responsibility for errors or breaches of duty.
Household-related services:
Household-related services are tax-deductible services that are provided in or around the home.
Heating Cost Ordinance:
The Heating Costs Ordinance regulates the billing of heating costs in buildings.
Craftsman invoice:
A tradesman's invoice is a list of costs for tradesman services, often in connection with renovations.
heating system:
A heating system is the system for heating a building.
Sloping plot:
A hillside property is located on a slope and requires special structural requirements.
Peace and quiet:
Domestic peace describes the orderly coexistence in an apartment building.
Household contents insurance:
Household contents insurance covers damage to the contents of a home caused by burglary, fire or water.
Mortgage loans:
A mortgage loan is a long-term loan for real estate financing that is secured by a mortgage.
I
Real estate dictionary - Letter I
Maintenance reserve:
A maintenance reserve is the financial reserve of a condominium owners' association for future repairs.
Repair:
Maintenance includes measures to restore a property to its original condition.
Maintenance costs:
Maintenance costs are the costs incurred for the upkeep of a property.
Index-linked rent:
An index-linked rent is regularly adjusted to a price index, e.g. the consumer price index.
Investment costs:
Investment costs are the total costs incurred in the construction or acquisition of a property.
Real estate funds:
A real estate fund is a form of investment that invests in real estate, either directly (open-end funds) or indirectly (closed-end funds).
Real estate valuation:
The real estate valuation determines the current market value of a property. It takes into account various factors such as location, condition, size, furnishings and the current real estate market. The valuation is important for selling, financing or for tax purposes. It can be carried out by surveyors, estate agents or online tools and provides an objective assessment of the value of a property.
Real estate agent:
A real estate agent professionally arranges the purchase, sale or rental of real estate.
Infrastructure:
The infrastructure includes all facilities and services relevant to a property, such as transport connections or utilities.
Real estate leasing:
With real estate leasing, a property is used in a similar way to a car, through leasing installments.
Maintenance contract:
A maintenance contract regulates the regular maintenance and care of a property.
Maintenance obligation:
The maintenance obligation is the owner's duty to keep a property in a proper condition.
Internal commission:
An internal commission is the commission that a real estate agent receives from the seller or landlord.
Real estate returns:
The return on real estate indicates the ratio of the income from a property to the investment costs.
Immission control:
Immission control refers to measures to protect properties from harmful environmental influences such as noise or exhaust fumes.
Real estate purchase contract:
The real estate purchase contract is a notarized contract that regulates the purchase and transfer of a property.
Indexing:
Indexation is the adjustment of rents or leases to an inflation index.
Real estate financing:
Real estate financing comprises the financing of the purchase or construction of a property, often through equity and borrowed capital.
Inventory:
The inventory of a property comprises the movable items that are part of the fixtures and fittings, such as furniture.
Investment tax:
Investment tax is a tax on income from real estate funds.
J
Real estate dictionary - Letter J
Annual statement:
The annual statement is an overview of the income and expenditure of a rental property or a condominium owners' association.
Annual rent:
The annual rent is the total rent paid for a rental property within a year.
annual gross profit:
The annual gross income is the total of all rental income from a property before deduction of operating costs.
Hunting law:
The hunting right relates to the right to hunt on a property, particularly in the case of rural properties.
Art nouveau property:
An Art Nouveau property is a historic building in the Art Nouveau style, built between around 1890 and 1910.
Annual tax assessment:
The annual tax assessment refers to the taxes that have to be paid on a property or its income.
Net annual rent:
The annual net rent is the amount of rental income after deduction of operating costs.
Annual rent increase:
The annual rent increase describes the annual increase in the rent of a property, often expressed as a percentage.
Year-end value:
The year-end value is the value of a property or investment at the end of the year, including all income and expenses.
Annual reserve:
The annual reserve is a financial reserve for financing maintenance and repairs in a residential complex.
Annual forecast:
The annual forecast is a forecast of the expected income and costs of a property in the coming year.
Joint venture:
A joint venture is a joint venture, often for large real estate projects, in which several parties work together.
Anniversary amortization:
Anniversary depreciation is a special tax depreciation for certain real estate investments in connection with an anniversary.
Annual rental agreement:
An annual tenancy agreement is a tenancy agreement that is limited to one year.
Year-end settlement:
The year-end statement refers to the settlement of service charges for the past year, e.g. for tenancies.
Net income for the year:
Net income is the profit that a property generates after deducting all costs and taxes.
Just-in-time:
The just-in-time principle refers to the delivery or provision of materials and services exactly when they are needed.
Jubilee building:
A jubilee building is erected as part of a special anniversary, e.g. a city anniversary.
Annual capital service:
The annual capital service is the sum of the annual interest and redemption payments for a loan.
Annual interest commitment:
The fixed annual interest rate is the period for which the interest rate of a loan is fixed.
K
Real estate dictionary - Letter K
Purchase contract:
The purchase contract is a notarized contract for the transfer of ownership of a property.
Cold rent:
The basic rent is the rent without ancillary costs such as heating or water.
Investment property:
An investment property is acquired to generate returns.
Cadastral office:
The land registry office is the authority that maintains the real estate cadastre and records the exact parcel boundaries.
Security deposit:
A deposit is a security payment made by the tenant to cover possible damage.
Cellar:
A cellar is the basement of a building, usually used as a storage or technical room.
KfW loan:
A KfW loan is a promotional loan from the Kreditanstalt für Wiederaufbau, often for energy-related renovations.
Climate active passive house:
A climate-active passive house is a building with high energy efficiency in which heat losses are minimized.
Cost rent:
The cost rent is the rent that results from the landlord's actual costs, e.g. for subsidized housing.
debt service:
The debt service comprises the total amount of interest and principal payments on a loan.
Incidental purchase costs:
Incidental purchase costs are additional costs when buying a property, such as notary or estate agent fees.
Cadastral extract:
The cadastral extract is an official document that documents the exact location and size of a property.
Protection against dismissal:
Protection against dismissal protects the tenant against arbitrary termination.
Purchase price factor:
The purchase price factor is the ratio of the purchase price to the annual rental income and serves as an indicator of profitability.
Purchase option:
A purchase option is the contractual right to buy a property at a later date at a fixed price.
Limited partnership (KG):
A limited partnership (KG) is a type of company that is often used for large real estate investments.
Core refurbishment:
A core refurbishment is a comprehensive refurbishment of a building in which the technical infrastructure is also renewed.
Statement of costs:
A cost breakdown is a detailed breakdown of the costs of a construction project.
KfW Efficiency House:
A KfW Efficiency House meets the energy efficiency requirements of the Kreditanstalt für Wiederaufbau.
Climate Protection Ordinance:
The Climate Protection Ordinance includes legal requirements for reducing energy consumption and CO2 emissions from buildings.
L
Real estate dictionary - Letter L
Location:
Location refers to the geographical position of a property and is a decisive factor for its value.
Real estate cadastre:
The real estate cadastre is an official register of all properties in a specific area.
Running time:
The term is the period for which a loan or rental agreement is concluded.
Exemption from charges:
An exemption from encumbrances declares that a property is exempt from encumbrances under land register law.
Life annuity:
A life annuity is a regular payment in return for the transfer of a property, often as a retirement provision.
Liquidity:
Liquidity describes the availability of funds and is an important factor in real estate financing.
Deletion authorization:
A deletion authorization is the creditor's declaration that a land charge can be deleted from the land register.
Air-raid shelter:
An air-raid shelter is a basement that was used as a shelter against air raids.
Cancellation request:
An application for deletion is an application for the deletion of a land charge in the land register.
Site plan:
A site plan is a detailed plan that describes the exact location of a property on a plot of land.
Noise immission control:
Noise immission control are measures to protect against noise pollution, especially in residential areas.
Vacancy:
Vacancy refers to the period during which a property is not used or rented out.
Loads:
Encumbrances are charges on a property that are secured in the land register, such as mortgages or rights of way.
Ventilation concept:
A ventilation concept is the planning of the ventilation of a building, especially in the case of energy-efficient new buildings.
Luxury refurbishment:
A luxury refurbishment is a high-quality refurbishment that often leads to considerably higher rents.
property:
Property is a synonym for land or real estate.
Property tax:
Property tax is a tax on real estate, which in Germany is regulated by property tax.
Service tender:
A call for tenders is a call for tenders for construction services in which companies submit tenders.
Luxury property:
A luxury property is a property with exclusive features in a prime location.
Light protection:
Light protection includes measures to protect a property from excessive sunlight.
M
Real estate dictionary - Letter M
Broker commission:
The broker's commission is the remuneration that an estate agent receives for brokering a property.
Loss of rent insurance:
A loss of rent insurance protects landlords against financial losses if tenants do not pay their rent or the property cannot be rented out due to damage. It covers the loss of rent for a certain period of time, for example in the event of rent arrears, vacancies following loss of rent or rent reductions due to serious damage. This insurance offers landlords financial security and stabilizes income, even in the event of unexpected payment defaults.
Installment plan:
The installment plan is a special form of real estate purchase in which the buyer initially rents the property and at the same time obtains the right to purchase it at a later date. Part of the rental payments are often offset against the purchase price, allowing the buyer to gradually build up equity. Installment plan is particularly interesting for people who do not currently have sufficient equity or creditworthiness to obtain conventional financing, but would like to acquire property in the future.
Rental deposit:
A rental deposit is a security deposit that a tenant pays at the beginning of the tenancy.
Rental agreement:
A rental agreement is a contract between the landlord and tenant for the use of a property in return for payment.
Rental management:
The rental management comprises the professional management and administration of rented properties on behalf of the owner. Tasks include finding tenants, processing contracts, collecting rent, invoicing service charges, organizing maintenance measures and communicating with tenants. Rental management relieves the owner of administrative and technical tasks and ensures the smooth management of the property. It ensures that the property remains profitable and in good condition.
Co-ownership share:
The co-ownership share describes the share of common property in a homeowners' association.
Rent control:
The rent freeze is a legal regulation to limit rent increases in certain regions.
Modernization levy:
The modernization levy allows the landlord to pass on the costs of modernization to the tenants.
Tenant self-disclosure:
The tenant self-disclosure provides landlords with information about the personal and financial circumstances of the prospective tenant, such as income and employment. It is used to assess the tenant's solvency and reliability and is often decisive when allocating accommodation.
Certificate of freedom from rent arrears:
The certificate of freedom from rent arrears is a written confirmation from the previous landlord that the tenant has made all rent payments in full and on time. It serves as proof of the tenant's payment reliability to potential new landlords and increases the chances of concluding a new tenancy agreement. However, there is no legal entitlement to the issue of such a certificate, which is why alternatives such as bank statements or proof of creditworthiness can be used.
Rent index:
A rent index is an overview of the local comparative rents in a city or municipality.
Monthly installment:
The monthly installment is the amount that is paid monthly for a loan or rent.
Furnished apartment:
A furnished apartment is an apartment that is fully or partially furnished. It usually includes basic furnishings such as beds, tables, chairs and often kitchen appliances. Furnished apartments are particularly popular with tenants who are looking for a short-term or flexible living solution, such as business travelers or students. They offer the advantage of not having to purchase your own furniture.
Rent reduction:
Rent reduction is the tenant's right to reduce the rent in the event of defects in the rented property.
Rent increase:
A rent increase describes the increase in rent, e.g. due to modernization measures.
Notice of defects:
A notice of defects is a written notification by a tenant to the landlord of defects in the rented property.
Brokerage agreement:
A brokerage agreement is a contract that grants a broker the exclusive right to broker a property.
Show house:
A show house is a model house that property developers or prefabricated house manufacturers use as a demonstration object.
Rental space:
The rentable area is the actual usable area of a property that is specified in a rental agreement.
Apartment building:
A apartment building is a residential building that contains several separate residential units for different parties. Each apartment in an apartment building has its own living space, while stairwells, corridors or communal gardens are often shared. Apartment buildings are widespread in cities and are suitable for both rental and owner-occupation by several parties. They offer a cost-efficient form of housing and can be a lucrative investment for owners, as several rental incomes can be generated from the various units.
The rent brake is a legal regulation that limits the increase in rents in areas with a tight housing market. Landlords may only increase rents for new tenancies up to a certain upper limit, which is usually a maximum of 10% above the local comparative rent. The rent cap is intended to protect tenants from sharply rising rents.
Tenancy law:
Tenancy law comprises the legal provisions that govern the relationship between tenant and landlord.
Rental security:
The rental security is the security that the tenant provides to the landlord for the proper use of the rented property.
Loss of rent insurance:
Loss of rent insurance protects the landlord against loss of rent.
Modernization announcement:
The modernization announcement is the landlord's notification to the tenant about planned modernizations.
Co-owner:
A co-owner is a person who owns a property together with others.
N
Real estate dictionary - Letter N
Additional costs:
Service charges are additional costs that are incurred in addition to the rent or purchase price, e.g. operating costs.
Notary public:
A notary is a lawyer who is responsible for notarizing real estate purchase contracts and property transfers.
Post-financing:
Additional financing becomes necessary if the original funds for a construction project are not sufficient.
Neighbor law:
Neighbor law regulates the relationship between neighbors, e.g. in the case of construction projects.
Sustainability:
Sustainability refers to the environmentally friendly and resource-conserving use and development of real estate.
Net cold rent:
The net rent is the rent excluding service charges and heating costs.
New tenant:
A new tenant is a person who takes over an apartment after the previous tenant has moved out.
Usable space:
The usable area refers to the area available for the intended use, e.g. in residential or commercial properties.
Low-energy house:
A low-energy house is a building that has a low energy requirement thanks to a particularly energy-efficient construction method.
Notary fees:
Notary fees are the fees for the notarization of real estate transactions by the notary.
redensification:
Densification describes the creation of additional living space in existing settlements through new construction.
Estate property:
A probate property is a property that is transferred as part of an inheritance.
Change of use:
A change of use is a change in the use of a property, e.g. from commercial to residential.
New building:
A new building is a newly constructed building that is being used for the first time.
Net asset value:
The net asset value is the value of all assets of a real estate fund less liabilities.
grace period:
The grace period is a deadline that is subsequently set for a contractual partner to fulfill its performance.
New development area:
A new development area is an area that is approved for new buildings.
Emergency administrator:
An emergency administrator is a court-appointed person who takes over the administration of a property if proper operation cannot be guaranteed.
Distress sale::
A distress sale describes the quick sale of a property under time pressure, often at a lower price than the market value. Reasons for a distress sale can be financial difficulties, such as debts or the threat of foreclosure. Personal reasons, such as divorce or career changes, can also make a distress sale necessary. The seller often accepts financial losses in order to create short-term liquidity.
Aftercare:
Aftercare refers to measures that are undertaken by the seller or developer after the handover or sale of a property.
Net return:
The net yield is the return that a property yields after deducting all running costs.
O
Real estate dictionary - Letter O
Property description:
The property description is a detailed description of a property, e.g. in an exposé.
Local comparative rent:
The local comparative rent is the average rent for comparable apartments in a particular region.
Open-ended real estate funds:
Open-ended real estate funds are a form of investment in which investments are made in real estate and the units can be traded at any time.
Option:
An option is a contractual right to buy or rent a property at a later date.
Disclosure notice:
The disclosure notice is an official notification regarding the use of a plot of land or property.
Property management:
Property management includes real estate management and maintenance services.
Proof of property:
The property certificate is proof of the purchase or brokerage of a property, e.g. by an estate agent.
Offmarket property:
An off-market property is a property that is not publicly marketed but sold via private networks.
Property maintenance:
Property maintenance includes measures for the care and upkeep of a property.
Compulsory insurance:
Compulsory insurance is insurance that is required by law, e.g. buildings insurance for mortgages.
Administrative offense:
An administrative offense is a violation of building regulations that can lead to fines.
Property location:
The property location describes the geographical location of a property, e.g. in terms of infrastructure or transport links.
Property valuation:
A property valuation is the professional assessment of the value of a property by an expert.
Option to increase rent:
The option to increase the rent is a contractual right of the landlord to increase the rent.
Obligation:
The obligation refers to the obligation of the tenant or owner to fulfill certain duties.
Object rent:
The property rent is the rent that is set for a specific property.
Object selection:
Property selection is the selection of suitable properties according to the requirements of the buyer or tenant.
Object manager:
A property manager is responsible for the administration and management of real estate.
Objective suitability:
Objective suitability describes the suitability of a property for certain uses, e.g. commercial or private.
Upper floor:
The upper floor is the term for floors of a building that are above the first floor.
P
Real estate dictionary - Letter P
Commission:
The commission is the fee that an estate agent receives for brokering a property.
Lease agreement:
A lease agreement regulates the use of a property or land in return for payment.
Penthouse:
A penthouse is a luxurious apartment on the top floor of a building, often with a terrace.
Lien:
A lien is the right to secure a claim by pledging a property.
Passive house:
A passive house is a particularly energy-efficient building that requires hardly any external energy supply.
Parquet flooring:
Parquet flooring is a popular wooden floor covering that is often used in residential properties.
Planning law:
Planning law includes regulations relating to the planning and use of real estate, e.g. through development plans.
Patio:
A patio is an inner courtyard of a building that is often used as an outdoor seating area.
Project development:
Project development is the planning and realization of construction projects by developers.
Privileged building:
Privileged building refers to building in an outdoor area that is only reserved for certain uses, e.g. agriculture.
Leasehold interest:
The rent is the fee paid for the use of a property under a lease agreement.
Parcelling:
Parcelling is the division of a plot of land into smaller plots.
Mandatory part:
The compulsory portion is the share to which a legal heir is entitled despite disinheritance, e.g. in the case of real estate.
Plaster:
Plaster is an exterior or interior coating for walls, which is used for appearance and protection from the weather.
Parking space management:
Parking space management includes the management and rental of parking spaces, e.g. in parking garages or underground parking lots.
Private sale:
A private sale is the sale of a property without the involvement of an estate agent.
Planning costs:
Planning costs are costs incurred during the planning of a construction project by architects or engineers.
Plan representation:
A plan representation is the graphic representation of a building project in plans or floor plans.
Point tower:
A point tower is a high-rise building with a square or round floor plan.
Prolongation:
Prolongation refers to the extension of a loan agreement after the fixed-interest period has expired.
Q
Real estate dictionary - Letter Q
Price per square meter:
The price per square meter is the price per square meter of living or usable space of a property.
Lack of quality:
A quality defect refers to a defect that impairs the quality of a property, e.g. due to structural deficiencies.
quality standard:
A quality standard is the benchmark for the structural and technical equipment of a property.
Cross-sectional view:
A cross-sectional view is the analysis of real estate markets or prices in different regions or segments.
Neighborhood development:
Neighborhood development is the planning and construction of new districts or mixed-use neighborhoods.
Quotation:
Quotas are the distribution of costs or revenues according to fixed shares, e.g. in a community of owners.
Quasi stock protection:
Quasi-existing protection describes the protection for structures that were built before a change in the law.
Source reference:
A source reference is proof of the origin of information, e.g. in a real estate appraisal.
Transverse design:
The transverse construction method is a construction method in which load-bearing elements run at right angles to the direction of the building.
Quality circle:
A quality circle is a group of experts that monitors the quality of real estate projects.
Neighborhood management:
Neighborhood management includes measures to promote and develop a neighborhood, e.g. through infrastructure projects.
Career changer:
A lateral entrant is a person who moves into the real estate sector without industry-specific training.
Neighborhood garages:
Neighborhood garages are central parking facilities to relieve residential areas.
Quadrant model:
The quadrant model is a method for analyzing real estate markets on the basis of market segments in a coordinate system.
Qualification:
The qualification includes training or further training in the real estate sector, e.g. as an expert.
Quarterly rent:
The quarterly rent is the rent that is paid quarterly, especially for commercial properties.
Qualified rent index:
A qualified rent index fulfills the legal requirements for calculating the customary local rent.
Troublesome tenants:
A disputatious tenant is a tenant who frequently gets into conflict with the landlord or other tenants.
Ashlar construction:
An ashlar building is a building form with a rectangular, cuboid ground plan.
Neighborhood center:
A neighborhood center is the central area of a district where stores and services are concentrated.
R
Real estate dictionary - Letter R
Yield:
The return is the ratio between the income from a property and the investment costs.
Reserve:
A reserve is a financial provision for future maintenance or repairs.
Renovation:
A renovation includes measures to renew or modernize a property.
Real estate:
A real charge is an encumbrance in rem on a property that provides for regular payments by the owner to a third party.
Legally binding rental agreement:
A legally valid tenancy agreement is a tenancy agreement that meets all legal requirements and is effective.
Residual debt:
The residual debt is the amount that is still outstanding after the fixed-interest period of a loan has expired.
Sale of leaseback:
The leaseback sale is a model in which the owner sells a property and then rents it back.
Inspection of the building shell:
A shell inspection is the inspection of a building during the shell construction phase to check the progress of construction.
Spatial development plan:
A spatial development plan controls the long-term development of a region with regard to settlements and infrastructure.
Right of withdrawal:
A right of withdrawal is a contractual right to withdraw from a real estate purchase or rental agreement.
Dismantling obligation:
The obligation to dismantle is the obligation to dismantle a structure at the end of its period of use.
Defect of title:
A defect of title is a defect that is based on the legal status of a property, e.g. due to unclear ownership.
Gross profit:
The gross profit describes the income from a property before deduction of running costs.
Residence obligation:
The residency requirement is the obligation to permanently use a property as your main residence, e.g. in the case of subsidized housing.
Action for eviction:
An eviction action is an action brought by a landlord to force a tenant to vacate the apartment.
Right of restitution:
A restitution claim is the claim to the return of a property after the expiry of an agreed period.
Terraced house:
A terraced house is a house that stands in a row of similar buildings and is connected to the neighboring houses by common walls.
Shell construction:
A shell is a building that is under construction but does not yet have any interior fittings.
Residual value:
The residual value is the value of a property after the end of its economic life.
Room program:
A room program is a plan that describes the functions and use of the rooms in a building project.
S
Real estate dictionary - Letter S
Special property:
Special ownership is the ownership of an individual apartment in a multi-party house that is entered in the land register.
Right of special use:
A special right of use gives an owner the exclusive right to use a certain part of the common property, e.g. a garden, on their own.
Material value:
The asset value of a property is calculated from the production costs less wear and tear.
Remediation:
A refurbishment comprises structural measures aimed at repairing damage or defects in a building and restoring it to a technically or visually better condition. Typical refurbishments involve the replacement of roofs, facades, windows or heating systems as well as energy efficiency measures. In contrast to renovation, which usually only involves cosmetic repairs, the aim of refurbishment aims to comprehensively improve and maintain the value of the property. Refurbishment may also be legally required in order to comply with current building regulations.
Redevelopment area:
A redevelopment area is an area that is earmarked for urban renewal and in which special support measures apply.
Sound insulation:
Sound insulation includes measures to reduce noise inside and outside a building.
Compensation for damages:
Damages are compensation due for breach of contract or defects in a property.
Turnkey:
A turnkey building is completed and ready for immediate occupancy.
Expert witness:
An appraiser is an expert who assesses the value or condition of a property.
Divorce property:
A divorce property is a property that is divided or sold as part of a divorce.
Security deposit:
Security is the deposit of money or valuables to secure contractual obligations.
Schufa information:
A Schufa report is a credit check that is carried out before a rental or purchase contract is concluded.
Speculation period:
The speculation period is the period during which the sale of real estate is taxable, usually 10 years.
Speculation tax:
The speculation tax is payable if a property is sold at a profit within ten years of purchase. It is a tax on the capital gain realized, which is considered a private sale within the meaning of the Income Tax Act. However, there are exceptions, for example if the property was used by the owner in the two years prior to the sale.
Graduated rent:
A graduated rent is a rental agreement in which the rent is increased gradually over fixed periods.
Pitch:
A parking space is a parking facility for vehicles on a property or in a garage.
Special contribution:
A special apportionment is a one-off payment demanded by condominium owners to cover unforeseen costs.
Final installment:
The final installment is the last installment that must be paid when buying or financing a property.
Social commitment:
The social commitment obliges a property to be used for specific social purposes, e.g. subsidized housing.
Black building:
A black building is an unauthorized structure that does not comply with building regulations.
Special property management:
Special property management refers to the management of individual condominiums by a property manager.
Solar system:
A solar system uses solar energy to generate electricity (photovoltaic) or heat (solar thermal). It consists of solar modules or collectors that are installed on roofs or open spaces. Solar systems offer an environmentally friendly alternative to conventional energy supply and help to reduce energy costs.
T
Real estate dictionary - Letter T
Repayment:
Repayment refers to the repayment of a loan in regular installments.
Part ownership:
Partial ownership is the ownership of a unit that is not used for residential purposes, e.g. an office or store.
Declaration of division:
A declaration of division is the declaration by which a building is divided into separate property and common property.
Escrow account:
An escrow account is used for the secure management of funds associated with a real estate purchase.
Underground parking garage:
An underground parking garage is an underground parking garage that is often found in apartment buildings or office buildings.
Partition auction:
A partition auction is a forced sale of a property that is co-owned in order to divide it up.
Repayment plan:
A repayment plan represents the repayment of a loan over the entire term.
Dry construction:
Dry construction is a construction method in which non-load-bearing walls are built with lightweight construction elements.
Thermal refurbishment:
Thermal refurbishment includes measures to improve the energy efficiency of a building, e.g. through insulation.
Impact sound insulation:
Impact sound insulation is a measure to reduce noise caused by footsteps or movement within a building.
Transparency:
Transparency means the disclosure of relevant information about a property, e.g. with regard to defects or rights.
Terrace:
A terrace is an outdoor area at ground level that adjoins a building and is used as an outdoor seating area.
Stairwell cleaning:
Stairwell cleaning includes the regular cleaning of the communal stairwell, e.g. by service providers or tenants.
Partial repayment:
A partial repayment makes it possible to repay part of a loan early and reduce the residual debt.
Partial delivery:
A partial delivery is the delivery of construction services in several stages.
Transportation costs:
Transportation costs are costs incurred for the transportation of building materials or relocation.
Civil engineering work:
Civil engineering work is construction work that takes place below the earth's surface, e.g. for foundations or pipelines.
Thermography:
Thermography is a process for visualizing heat losses in buildings using infrared images.
Partial sale:
A partial sale is the sale of part of a property, e.g. co-ownership shares.
Trust agreement:
A trust agreement regulates the fiduciary management of real estate or funds, often in connection with purchase agreements.
U
Real estate dictionary - Letter U
Value added tax:
VAT is payable on commercial real estate sales and rentals.
Subletting:
A sublet is a tenancy in which the tenant sublets part of their home to a third party.
Conversion:
Conversion is the change in the type of use of a property, e.g. from rental apartments to condominiums.
Basement:
The basement is the floor below the first floor, often used for storage space or underground parking.
Allocability:
The apportionability describes the costs that the landlord may pass on to the tenant, e.g. operating costs.
Maintenance obligation:
The maintenance obligation is the owner's obligation to keep a property in a usable condition.
Subletting permission:
The subletting permit is the landlord's consent to the tenant subletting an apartment.
Remodeling measures:
Conversion measures are structural changes to a property, e.g. extensions or modernizations.
Current assets:
A company's current assets include assets that are turned over in the short term, e.g. inventories.
Reverse mortgage:
A reverse mortgage is a financing model in which older property owners borrow against their property without selling it.
Unobstructed view:
An unobstructed view is the assurance that the view from a property will not be restricted by future buildings.
Removal allowance:
The relocation allowance is a fixed amount that taxpayers can claim for tax purposes in the event of a job-related move. Instead of providing evidence of individual costs, employees can declare the lump sum in their tax return in order to reduce their relocation costs. This includes expenses for transportation, estate agent fees or renovations. The amount of the lump sum is regularly adjusted and can vary depending on marital status. It makes it easier to deduct the financial costs of a move without having to keep detailed records.
Removal company:
A removal company takes care of the transportation of furniture and household goods during a move.
U-value:
The U-value is a key figure that indicates the heat transfer coefficient of a building component, a measure of insulation.
Injunction:
An injunction is an action to prevent certain actions, e.g. noise nuisance by neighbors.
Turnover rent:
Turnover rent is a rental model in which the amount of rent depends on the tenant's turnover, often in the retail sector.
Change of use:
A change of use is a change in the type of use of a building, e.g. from office to living space.
Clearance certificate:
A tax clearance certificate is a certificate from the tax office stating that the purchase of a property is tax-compliant.
Reallocation procedure:
A reallocation procedure is a procedure for the reorganization of land, e.g. for the development of building land.
Sublease:
A sublease is a lease in which the lessee subleases the leased property to a third party.
Environmental impact:
Environmental pollution is the pollution of a property caused by environmental influences such as noise, exhaust fumes or contaminated soil.
V
Real estate dictionary - Letter V
Market value:
The market value is the market value of a property, which represents the price that can be achieved on the open market.
Right of first refusal:
The right of first refusal gives a person or institution the right to buy a property or plot of land as soon as the owner wishes to sell it. It is often stipulated by contract or by law and ensures that the entitled party has the opportunity to accept a purchase offer on the same terms as a potential buyer. The right of first refusal can be granted to tenants, neighbors or municipalities, for example, in order to protect certain interests such as the preservation of tenancies or urban development.
Administrator:
A property manager is a person or company that takes over the management of a property on behalf of the owners.
Landlord:
The landlord is a person who lets a property to a tenant for use.
Pre-contract:
A preliminary contract is a contract that is intended to prepare a future agreement, such as a real estate purchase.
Right of disposal:
The right of disposal is the right to dispose of a property, e.g. by selling or renting it.
Asset manager:
An asset manager is a person or company that manages the assets of an owner, including real estate.
Surveying office:
The surveying office is an authority responsible for the surveying of land and the creation of cadastral maps.
Rental guarantee:
A rental guarantee is an assurance from the seller or developer that a property will be rented out.
Supply lines:
Supply lines are lines that supply a property with electricity, water, gas or internet.
Marketing:
Marketing is the process of advertising and selling or renting a property.
Market value appraisal:
A market value appraisal is an appraisal that determines the market value of a property by an expert.
Contractual penalty:
A contractual penalty is a penalty that becomes due in the event of non-compliance with contractual obligations, e.g. in a construction contract.
Minutes of the meeting:
Meeting minutes are a written record of the resolutions and discussions at an owners' meeting.
Statute of limitations:
Limitation is the expiry of the period after which claims in connection with a property can no longer be asserted.
Conclusion of contract:
The conclusion of a contract is the finalization of a purchase or rental agreement by the signatures of the contracting parties.
Duty to ensure traffic safety:
The duty to maintain road safety obliges the owner to keep their property in a roadworthy condition.
Insurance obligation:
Compulsory insurance is the legal obligation to insure a property against certain risks.
Consumption certificate:
A consumption certificate is an energy certificate that indicates the energy consumption of a property.
marketing strategy:
A marketing strategy is the planning and implementation of measures to successfully market a property.
W
Real estate dictionary - Letter W
Living space:
The living space describes the area of an apartment or house that is available for use.
Right of way:
The right of way allows you to enter or cross another person's property in order to reach your own property.
WG (shared flat):
A WG (shared flat) is a form of housing in which several people share an apartment or house. Each resident usually has their own room, while communal areas such as the kitchen and bathroom are shared. Shared flats are particularly popular with students and young professionals, as they offer a cost-effective housing option and can enrich social life.
Homeowners' association:
The homeowners' association (WEG) consists of all owners in an apartment building who jointly manage the common property.
Thermal insulation:
Thermal insulation Refers to measures taken to insulate a building in order to minimize heat loss and increase energy efficiency.
Heat pump:
A heat pump is an energy-efficient heating system that uses environmental heat from the air, water or ground to heat buildings. It works by absorbing heat from the environment, amplifying it and transferring it to the heating system. Heat pumps can be used for both heating and cooling and are an environmentally friendly alternative to fossil fuels, as they obtain a large proportion of the energy required from renewable sources.
Valuation:
The valuation of a property is carried out using special procedures to determine its current market value.
Notice of termination:
The landlord or tenant gives notice to terminate the tenancy.
Condominium Act (WEG):
The Condominium Act regulates the rights and obligations of owners in apartment buildings.
Housing benefit:
Wohngeld is the monthly payment for operating costs and reserves made by the owners of an apartment in a WEG.
Thermal bridge:
A thermal bridge is a point on a building where more heat is emitted to the outside and energy is lost.
Home ownership:
Home ownership refers to the ownership of an apartment that is entered in the land register.
Advertising ban:
An advertising ban prevents the public advertising of a property, e.g. in the case of listed properties.
Residential rent:
Residential rent is the rent paid for residential premises and is subject to the provisions of tenancy law.
Increase in value:
The value of a property increases as a result of modernization measures or positive market developments.
Right of residence:
A right of residence grants a person the right to live in a property without being its owner, e.g. in the case of usufruct.
Water connection:
The water connection is the connection of a property to the public water supply network.
Impairment:
A reduction in value occurs when the value of a property falls due to wear and tear or external influences.
Residential area:
The residential location of a property describes the quality of the surrounding area in terms of infrastructure, safety and attractiveness.
Residential building insurance:
Homeowners' insurance protects the building against damage caused by fire, storm or mains water.
Thermal Insulation Ordinance:
The Thermal Insulation Ordinance sets out legal requirements for the insulation and energy efficiency of buildings.
Certificate of eligibility for housing:
A housing entitlement certificate gives you access to state-subsidized housing.
X
Real estate dictionary - Letter X
XPS insulation:
XPS insulation is a type of insulation material made from extruded polystyrene that is often used in the construction industry to minimize heat loss.
X-shaped design:
The X-shaped construction method describes an architectural design in which a building is erected in the shape of an "X".
Xenon light:
Xenon light is used in real estate lighting to accentuate outdoor or indoor areas.
X-glazed:
X-glazed means that windows are fitted with a particularly large amount of glazing to increase energy efficiency and sound insulation.
Xenon heating:
A xenon heater is a heating system that is operated on the basis of xenon gas in order to achieve efficient heat output.
Xenon seals:
Xenon seals are used in modern buildings to increase energy efficiency through better sealing.
X-treme Building:
X-treme Building is a concept for particularly durable, resistant and innovative buildings.
X-Direction planning:
With X-Direction planning, special directions for light and energy flows are taken into account in real estate planning.
X-fold real estate:
An X-fold property is a property of special significance, whether due to its size, location or market value.
X-Class real estate valuation:
The X-Class real estate valuation is a category for the valuation of particularly high-quality and exclusive properties.
X-shaped floor plan:
An X-shaped floor plan describes the arrangement of rooms in a building in the shape of an "X".
X-bracing:
X-bracing is a technique for reinforcing buildings, especially high-rise or industrial buildings.
X-panel insulation:
X-panel insulation refers to special insulation panels that are used in new buildings to ensure energy efficiency.
X-tiered rent:
An X-tiered rent describes a rental agreement in which the rent is increased in many small steps.
Y
Real estate dictionary - Letter Y
Yield:
Yield is a key indicator in real estate valuation and describes the ratio of income to investment costs.
Ytong bricks:
Ytong blocks are aerated concrete blocks that are widely used in construction and are characterized by their lightness and thermal insulation properties.
Y-shaped design:
Y-shaped construction describes a specific architectural form in which buildings are erected in a Y-shape.
Y-shaped floor plan:
A Y-shaped floor plan is often used in modern residential complexes and ensures an optimized room layout.
Ytong insulation:
Ytong insulation is an insulating material based on aerated concrete that is used for the thermal insulation of buildings.
Y-shaped architecture:
Y-shaped architecture stands for innovative forms of construction in which buildings are planned and realized in a Y-shape.
Y-shaped supporting structure:
A Y-shaped load-bearing structure refers to a construction method in which load-bearing elements are designed in the shape of a "Y".
Ytong house:
A Ytong house is a building constructed entirely or predominantly from Ytong bricks, often described as an energy-efficient building.
Z
Real estate dictionary - Letter Z
Fixed interest rate:
The fixed interest rate is the period during which the interest rate of a real estate loan is fixed.
Two-family house:
A two-family house is a residential building with two separate residential units.
Foreclosure:
A forced sale is a judicial procedure to realize a property if the owner is unable to pay his debts.
Apartment building:
An apartment building is a residential building that is used to generate rental income.
Forced eviction:
Eviction is carried out by the bailiff if a tenant does not leave the apartment despite giving notice.
Interest rate:
The interest rate indicates the percentage of interest that must be paid annually on a loan or mortgage.
Allowance:
A donation is the gift or transfer of real estate assets, often in a family context.
Payment default:
A payment default occurs when the debtor or tenant fails to make loan or rent payments.
Interest rate increase:
An interest rate increase occurs after the fixed-interest period has expired if the interest rate of a loan rises.
Allocation maturity:
Allocation maturity is the point at which a building society loan can be paid out.
Interim financing:
Interim financing is short-term financing that is used until the final financing of a property.
Second acquisition:
Second acquisition refers to the purchase of a property that was previously used by another owner.
Status report:
A condition report describes the structural condition of a property and often serves as a basis for purchase decisions.
Right of access:
The right of access is the right to enter another person's property, e.g. for the maintenance of supply lines.
Move in:
The influx describes the population growth in a city or region, which often has an influence on real estate prices.
Admission:
Approval is the authorization to use a property, e.g. for commercial purposes.
Target return:
The target return is the return that is aimed for in a real estate investment.
Surcharge:
The bid is accepted at a forced sale and makes the bidder the owner of the property.
Interest rate level:
The interest rate level describes the level of general interest rates on the capital market, which also influence real estate loans.
Interest discount:
An interest discount is a reduction on the interest rate of a loan, e.g. through unscheduled repayments or other measures.