A
Property dictionary - Letter A
Recall:
The Recall 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:
The Marking describes the marking of property boundaries, usually by boundary stones or other markers.
Settlement clause:
One Settlement clause is a contractual arrangement for the final settlement of certain rights or claims.
Acceptance:
The Acceptance is the formal handover of the finished building from the construction company to the client.
Depreciation and amortisation (AfA):
The Amortisation (AfA) refers to the tax deduction of the loss in value of a property over a certain period of time.
Old building:
A Old building is a building that was constructed before a specified date, often before 1950.
Pension scheme:
The Pension scheme refers to the utilisation of real estate as a building block of the Retirement provision, e.g. through letting or sale.
Amortisation:
Amortisation describes the period in which the investment costs of a property are covered by income.
Escrow account:
A Escrow account is an escrow account that is usually held by notaries for the settlement of property transactions.
Right of purchase:
The Right of purchase is a contractual right to acquire a property at a specified time.
Annuity:
One Annuity is a constant annual instalment 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 modernisation 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 modernisation work being claimed as immediately deductible costs after purchase.
Connection fees:
Connection fees are costs for connecting a property to public utilities.
Flat (App.):
A Flat is a small residential unit with one to two rooms.
Prior notice of conveyance:
The Prior 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 characteristics of a building or flat.
Payment requirements:
Payment requirements are conditions that must be met before a bank will disburse a loan.
Aval (surety):
A Aval is a contractual assumption of a financial obligation by a bank or a third party.
B
Property dictionary - Letter B
Balcony:
A Balcony is an outdoor seating area on a flat or house that is open to the outside.
Building application:
A Building application is an application for authorisation of a building project with the responsible building authority.
Building completion insurance:
The Construction completion insurance protects clients 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.
Planning permission:
The Building permit is an official authorisation from the building authorities to carry out a building project.
Building owner:
The Building owner is the person or institution that commissions and finances a construction project.
Building child benefit:
The Building subsidy is a state subsidy for families purchasing residential property for the first time.
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 shows the price development of construction services and materials.
Building performance insurance:
One Construction insurance covers damage during the construction phase.
Building load:
One Building load is the public-law obligation of the property owner to do or refrain from doing something.
Urban land-use planning:
The 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 regulations law regulates the requirements for structural installations for the protection of public safety.
Building society savings (building society contract):
Building society savings (building society contract) is a combination of savings and building subsidy that enables long-term equity to be accumulated 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 saving offers 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 property 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 property projects. It handles the entire process, from the search for a plot of land to the planning and completion of the property. The property 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 property developer.
Preliminary building enquiry:
One Preliminary building enquiry is a preliminary enquiry to the building authority to clarify the eligibility for approval of a building project.
Building contract:
A Building 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.
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.
Debit authorisation:
One Power of attorney to debit is a power of attorney for the registration of rights, e.g. mortgages, in the land register.
Standard land value:
The Standard land value indicates the average price per square metre of a property in a specific location. It is determined by expert committees based on actual purchase prices and is used to determine the value of properties.
C
Property 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 property project.
Cash flow:
The Cash flow is the difference between the income and expenses of a property project.
Cap rate (capitalisation 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 flats:
Cluster flats are a residential concept in which several residential units share a common area.
Co-investment:
A Co-investment property purchase 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 property 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 property 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 includes 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, especially for warehouse and industrial properties.
Crowd investment:
Crowd investment in the property sector enables many small investors to invest together in property projects. Investors can contribute smaller amounts via online platforms in order to collectively build up a larger amount of capital that flows into property 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 property 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:
One Cluster analysis is a method for segmenting property 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
Property dictionary - Letter D
Attic flat:
One Attic flat is a flat on the top floor of a building, often with sloping ceilings.
Loans:
A Loans 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:
One 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:
One 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 taken 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 Tolerance notice is a decision that prescribes the toleration of a construction measure or utilisation.
Dynamic financing:
One Dynamic financing is a financing model in which the repayment instalments increase over time.
Double burden:
One Double burden arises from parallel payments of rent and mortgage.
Discount:
Discount refers to a discount on the nominal amount of a loan that is withheld on disbursement.
Loft conversion:
The Loft conversion describes the conversion of an unused attic space for residential purposes.
Right of permanent use:
The Right of permanent use gives a person the right to use a property permanently without being the owner.
differential taxation:
The Differential taxation is a taxation procedure that is often used for commercial property sales.
Average yield:
The Average yield is the average yield of a property per year.
Third-party usability:
The Third-party usability describes the possibility of using a property for purposes other than its originally intended use.
Print model (3D) of a property:
A 3D print model is a true-to-scale, physical replica of a property that is created using a 3D printer. It is used for the realistic visualisation of architectural projects and helps to illustrate building 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 the right to live in a property for life without being the owner.
E
Property dictionary - Letter E
Corner plot:
A Corner plot is a property that borders on two roads and is often subject to special building regulations.
Spouse swing:
The Spouse swing is a tax strategy in which property or other assets are transferred between spouses in order to maximise 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 utilised several times, allowing assets to be transferred tax-free in stages. The spousal swing requires careful planning in order to fully utilise the tax advantages.
Community of owners:
The Community of owners is the community of owners in a residential complex who jointly manage the common property.
Condominium:
One Condominium is the separate property of one owner and can be sold freely.
Equity:
Equity capital refers to the financial resources that a buyer contributes to a property purchase from their own resources 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 favourable interest rates. As a rule, banks recommend contributing at least 20 % of the purchase price as equity.
Own use:
The Own use is the right of the landlord to give notice to a tenant if he wishes to use the flat himself.
Property:
Ownership refers to the legal right of disposal over an object or asset. It gives the owner complete control over the property, including the right to use, sell, rent or bequeath it. When buying a property, 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 Unit 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 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 vulnerable areas.
Energy certificate:
The Energy certificate is a document that shows the energy status of a building.
Heritable building plot:
A Heritable building plot is transferred for use within the framework of a heritable building right without the user becoming the owner.
Leasehold:
The Leasehold is the right to erect and use a building on someone else's property.
Inheritance tax:
The Inheritance tax is a tax that is levied when assets or real estate are transferred to another person by 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:
The Incidental acquisition costs are incidental costs incurred when purchasing a property, e.g. notary and estate agent fees.
Yield value:
The Yield value of a property is calculated from the expected income.
Development costs:
The Development costs are costs incurred in the development of a property, e.g. for supply lines.
Granny flat:
One Granny flat is a separately usable flat within a detached house.
De-rental:
De-letting Refers to measures taken by the landlord to persuade tenants to move out, e.g. through building work.
Final financing:
The Final financing is the final phase of property financing after interim financing.
Ground floor flat:
One Ground floor flat is located on the ground floor and often has its own access or garden area.
Effective interest rate:
The Effective interest rate is the actual interest payable on a property 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 favour of the public authorities.
F
Property 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 loan is a loan where only interest is paid during the term; repayment is made at the end.
Fireplace notice:
The Fireplace notice is issued by the chimney sweep and confirms the proper functioning of heating systems.
Parcel:
A Parcel is the smallest property unit recorded in the property register.
Parcel map:
One Parcel map is an official map showing the location of properties and buildings.
Subsidies:
Subsidies are public funds to support construction projects or energy-efficient refurbishments.
Debt capital:
Debt 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 utilisation 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:
One Maturity notice is information on the due date of payments in connection with property transactions.
Prefabricated house:
A Prefabricated house consists of prefabricated components that are assembled on site.
Moisture measurement:
The Moisture measurement is a method for determining the moisture content in walls or floors.
Fixed-rate mortgage:
One Fixed-rate mortgage is a mortgage with a fixed interest rate over the entire term.
Corridor spacing:
The Corridor spacing is the distance that must be maintained between neighbouring properties.
Foundation:
The Foundation is the load-bearing structure of a building on which it rests.
Surface heating:
One Panel heating is a heating system that is integrated over a large area in floors or walls.
District heating:
District heating Refers to the energy supply via a centralised network that supplies heat to buildings.
Façade insulation:
The Facade insulation is a measure to insulate the exterior walls of a building for energy efficiency.
Parcel number:
The Parcel number is a unique number of a property in the real estate cadastre.
G
Property dictionary - Letter G
Land register:
The Land register is a public register that documents the ownership structure and encumbrances of properties.
Land charge:
One Land charge is an encumbrance in rem on a property to secure a loan.
Real estate transfer tax:
The Real estate transfer tax is incurred on the acquisition of property.
Real property lien:
The Real property lien is a right that is entered in the land register as security for a loan, such as a mortgage.
Expertise:
A Expert opinion 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 flat owners.
Building insurance:
One Building insurance covers damage to the building caused by fire, storm or mains water.
Commercial property:
One 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 property into several plots.
Easement:
One Easement is the encumbrance of a property in favour 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:
One Donation of land is the transfer of a property 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:
The Property tax is paid annually by owners of land or property to the municipality.
Boundary development:
One Boundary development refers to the development along the property boundary, often with special building regulations.
Building class:
The Building class is the categorisation of buildings according to height and use, e.g. for fire protection.
Commercial rent:
The Commercial rent is the rent for commercially used premises and is subject to different regulations than the rent for residential premises.
Trade tax:
The 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 have to pay to the municipality, such as property tax or street cleaning fees.
H
Property 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 money is the monthly advance payment of operating costs made by owners in a condominium owners' association.
House rules:
The House rules regulates cohabitation in a residential complex or apartment block.
Property management:
The Property management takes over the management of a property on behalf of the owner.
Mortgage:
One Mortgage is a charge on a property to secure a loan.
Mortgage interest rates:
The Mortgage interest rates is the interest paid on a loan on a property.
Heating bill:
The Heating bill is the billing of heating costs in an apartment block or a community of owners.
Caretaker:
A Caretaker 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. The insurance covers items such as furniture, electrical appliances, clothing and valuables. 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 possessions.
House connection costs:
The House connection costs are the costs of connecting a property to public supply lines.
Liability insurance:
One Liability insurance covers damage caused by the property or the owner.
Height limit:
One Height limit defines the maximum height of a building.
Domestic authority:
The Domestic authority gives the owner or tenant the right to regulate access to a property.
Liability of the administrator:
The Liability of the administrator refers to the legal responsibility of the administrator for errors or breaches of duty.
Household-related services:
Household-related services are tax-deductible services provided in or around the home.
Heating Cost Ordinance:
The Heating Cost Ordinance regulates the billing of heating costs in buildings.
Tradesman's invoice:
One Tradesman's invoice is the cost breakdown for trade services, often in connection with refurbishments.
heating system:
One Heating system is the system for heating a building.
Sloping plot:
A Sloping plot is located on a slope and requires special structural requirements.
Peace and quiet:
The Peace of mind describes the orderly coexistence in an apartment block.
Household contents insurance:
One 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 property financing that is secured by a mortgage.
I
Property dictionary - Letter I
Maintenance reserve:
One Maintenance reserve is the financial reserve of a homeowners' association for future repairs.
Maintenance:
The Repair includes measures to restore a property to its original condition.
Maintenance costs:
Maintenance costs are the costs incurred for the maintenance of a property.
Index-linked rent:
One Index-linked rent is regularly adjusted to a price index, e.g. the consumer price index.
Investment costs:
The Investment costs are the total costs incurred in the construction or purchase of a property.
property funds:
A Property funds is a form of investment that invests in property, either directly (open-ended funds) or indirectly (closed-end funds).
Property valuation:
The Property valuation determines the current market value of a property. It takes into account various factors such as location, condition, size, furnishings and the current property 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 letting of property.
Infrastructure:
The Infrastructure includes all facilities and services relevant to a property, such as transport links or utilities.
Property leasing:
At the Property leasing a property is used in a similar way to a car by means of leasing instalments.
Maintenance contract:
A Maintenance contract regulates the regular maintenance and care of a property.
Maintenance obligation:
The Maintenance obligation is the duty of the owner to keep a property in a proper condition.
Internal commission:
One Internal commission is the commission that a real estate agent receives from the seller or landlord.
Property yield:
The Property yield indicates the ratio of the income from a property to the investment costs.
Immission control:
Immission control are measures to protect properties from harmful environmental influences such as noise or exhaust fumes.
Property purchase agreement:
The Property purchase agreement is a notarised contract that regulates the purchase and transfer of a property.
Indexing:
The Indexing is the adjustment of rents or leases to an inflation index.
Property financing:
The Property financing involves financing the purchase or construction of a property, often through equity and borrowed capital.
Inventory:
The Inventory of a property includes the movable items that are part of the fixtures and fittings, such as furniture.
Investment tax:
The Investment tax is a tax on income from property funds.
J
Property dictionary - Letter J
Annual statement:
The Annual statement is an overview of the income and expenditure of a rental property or a homeowners' association.
Annual rent:
The Annual rent refers to the total rent paid for a rental property within a year.
annual gross profit:
The Gross annual yield is the total of all rental income from a property before deduction of operating costs.
Hunting law:
The Hunting law concerns the right to hunt on a property, particularly in the case of rural properties.
Art nouveau property:
One Art nouveau property is a historic building in the Art Nouveau style, built between around 1890 and 1910.
Annual tax assessment notice:
The Annual tax assessment notice refers to the taxes that must be paid on a property or its income.
Net annual rent:
The Net annual 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 property projects, in which several parties work together.
Anniversary amortisation:
The Anniversary amortisation is a special tax depreciation for certain property investments in connection with an anniversary.
Annual rental agreement:
A Annual rental 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:
The Net income for the year is the profit that a property generates after deduction of all costs and taxes.
Just-in-Time:
The Just-in-Time Principle refers to the delivery or provision of materials and services at the exact time required.
Jubilee building:
A Jubilee building is erected on the occasion of a special anniversary, e.g. a city jubilee.
Annual capital service:
The Annual capital service is the sum of the annual interest and amortisation payments for a loan.
Fixed annual interest rate:
The Fixed annual interest rate refers to the period for which the interest rate of a loan is fixed.
K
Property dictionary - Letter K
Purchase contract:
The Purchase contract is a notarised 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:
One Investment property is acquired to generate returns.
Cadastral office:
The Cadastral office is the authority that maintains the property register and records the exact parcel boundaries.
Deposit:
One Security deposit is a security deposit provided 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 subsidised loan from the Kreditanstalt für Wiederaufbau, often for energy-efficient renovations.
Climate active passive house:
A Climate-active passive house is a building with high energy efficiency in which heat losses are minimised.
Cost rent:
The Cost rent is the rent resulting from the landlord's actual costs, e.g. in subsidised housing.
debt service:
The Debt service comprises the total amount of interest and amortisation payments on a loan.
Incidental purchase costs:
The 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:
The Protection against dismissal protects the tenant from 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:
One Purchase option is the contractual right to purchase a property at a later date at a fixed price.
Limited partnership (KG):
One Limited partnership (KG) is a type of company that is often used for large property investments.
Core refurbishment:
One Core refurbishment is a comprehensive refurbishment of a building in which the technical infrastructure is also modernised.
Statement of costs:
One Statement of costs is the 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 to reduce the energy consumption and CO2 emissions of buildings.
L
Property dictionary - Letter L
Location:
The 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 list of all properties in a certain area.
Running time:
The Runtime refers to the period for which a loan or rental agreement has been concluded.
Exemption from charges:
One Load exemption declares that a property is exempt from encumbrances under land register law.
Life annuity:
The Life annuity is a regular payment against the transfer of a property, often as a retirement provision.
Liquidity:
Liquidity describes the availability of means of payment and is an important factor in property financing.
Cancellation authorisation:
One Cancellation licence is the creditor's declaration that a land charge can be cancelled in the land register.
Air-raid shelter:
A Air-raid shelter is a basement that was used as a shelter against air raids.
Cancellation request:
A Cancellation request is the application for cancellation 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 in which a property is not used or let.
Loads:
Loads are encumbrances 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:
One Luxury refurbishment is a high-quality refurbishment that often leads to considerably higher rents.
property:
Property is a synonym for property or real estate.
Property tax:
The Property tax is a tax on real estate, which in Germany is regulated by the property tax.
Service tender:
One Service tender is the invitation to tender for construction services in which companies submit bids.
Luxury property:
One Luxury property is a property with exclusive fittings in a first-class location.
Light protection:
Light protection includes measures to protect a property from excessive solar radiation.
M
Property dictionary - Letter M
Broker commission:
The Broker commission is the remuneration that an estate agent receives for brokering a property.
Rent cancellation insurance:
One Rent cancellation insurance protects landlords against financial losses if tenants do not pay their rent or the property cannot be let 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 stabilises income, even in the event of unexpected payment defaults.
Hire purchase:
The Hire purchase is a special form of property 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. Hire purchase 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:
One Rental deposit is a security deposit provided by a tenant at the beginning of the tenancy.
Tenancy agreement:
A Rental agreement is a contract between landlord and tenant for the use of a property in return for payment.
Rental management:
The Rental management includes the professional management and administration of rented properties on behalf of the owner. Tasks include finding tenants, processing contracts, collecting rent, invoicing service charges, organising maintenance measures and communicating with tenants. Tenancy 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 control is a legal regulation to limit rent increases in certain regions.
Modernisation levy:
The Modernisation levy allows the landlord to pass on the costs of modernisation 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 rental 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 standard local comparative rents in a city or municipality.
Monthly instalment:
The Monthly instalment is the amount paid monthly for a loan or rent.
Furnished flat:
One furnished flat is a flat that is fully or partially furnished. It usually includes basic furnishings such as beds, tables, chairs and often kitchen appliances. Furnished flats are particularly popular with tenants who are looking for a short-term or flexible living solution, such as business travellers or students. They offer the advantage that you do not have to buy your own furniture.
Rent reduction:
The Rent reduction is the tenant's right to reduce the rent in the event of defects in the rented property.
Rent increase:
One Rent increase describes the increase in rent, e.g. due to modernisation measures.
Notice of defects:
The Notice of defects is the written notification by a tenant to the landlord of defects in the rented property.
Brokerage agreement:
A Brokerage agreement is a contract that grants an estate agent the exclusive right to broker a property.
Show house:
A Show house is an example house that property developers or prefabricated house manufacturers use as a demonstration object.
Rental space:
The Rental space is the actual usable area of a property specified in a rental agreement.
Apartment block:
A Apartment block is a residential building that contains several separate residential units for different parties. Each flat in an apartment block has its own living space, while stairwells, corridors or communal gardens are often shared. Apartment blocks are widespread in cities and are suitable for both letting 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 control is a legal regulation that limits the increase in rents in areas with a tight housing market. Landlords are only allowed to increase rents for new lettings up to a certain upper limit, which is usually a maximum of 10 % above the standard local comparative rent. The rent cap is intended to protect tenants from sharply rising rents.
Tenancy law:
The Tenancy law comprises the legal provisions governing 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.
Rent cancellation insurance:
One Rent cancellation insurance protects the landlord from loss of rent.
Modernisation announcement:
The Modernisation announcement is the landlord's notification to the tenant of planned modernisation work.
Co-owner:
A Co-owner is a person who owns a property together with others.
N
Property dictionary - Letter N
Additional costs:
Ancillary costs 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 notarising property purchase contracts and transfers of ownership.
Post-financing:
One Post-financing becomes necessary if the original funds for a construction project are not sufficient.
Neighbouring rights:
The Neighbour law regulates the relationship between neighbours, e.g. in the case of building projects.
Sustainability:
Sustainability refers to the environmentally friendly and resource-conserving utilisation and development of properties.
Net cold rent:
The Net cold rent is the rent excluding service charges and heating costs.
New tenant:
A New tenant is a person who takes over a flat 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 low energy requirements thanks to a particularly energy-efficient construction method.
Notary fees:
Notary fees are the fees for the notarisation of property transactions by the notary.
redensification:
The redensification describes the creation of additional living space in existing housing estates through new construction.
Estate property:
One Estate property is a property that is transferred as part of an inheritance.
Change of use:
One Change of use is the change of use of a property, e.g. from commercial to residential space.
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 property fund less liabilities.
grace period:
The Grace period is a deadline that is subsequently set for a contractual partner to fulfil its performance.
New development area:
A New development area is an area that is authorised for new buildings.
Emergency administrator:
A Emergency administrator is a court-appointed person who takes over the management of a property if its proper operation is not 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 a 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 taken over by the seller or property developer after the transfer or sale of a property.
Net return:
The Net return is the return that a property yields after deduction of all running costs.
O
Property dictionary - Letter O
Property description:
The Property description is a detailed description of a property, e.g. in an exposé.
Local comparative rent:
The Standard local comparative rent is the average rent for comparable flats in a particular region.
Open-ended property funds:
Open-ended property funds are a form of investment in which investments are made in property and the units can be traded at any time.
Option:
One 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 a property.
Property management:
Property management includes property management and maintenance services.
Proof of property:
The Proof of property is proof of the purchase or brokerage of a property, e.g. by an estate agent.
Offmarket property:
One Offmarket property is a property that is not publicly marketed but sold via private networks.
Property maintenance:
The Property maintenance includes measures for the care and maintenance of a property.
Compulsory insurance:
One Compulsory insurance is insurance required by law, e.g. building insurance for mortgages.
Regulatory offence:
One Regulatory offence is an offence against 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:
One Property valuation is the professional assessment of the value of a property by an expert.
Option to increase rent:
The Option to increase rent is a contractually stipulated right of the landlord to increase the rent.
Obligation:
The Obligation refers to the obligation of the tenant or owner to fulfil certain duties.
Object rent:
The Property rental is the rent that is fixed for a specific property.
Object selection:
The Object selection is the selection of suitable properties according to the requirements of the buyer or tenant.
Property manager:
A Object manager is responsible for the administration and management of properties.
Objective suitability:
The 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 located above the ground floor.
P
Property 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 flat on the top floor of a building, often with a terrace.
Lien:
The 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 frequently used in residential properties.
Planning law:
The Planning law includes regulations relating to the planning and utilisation 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:
The Project development is the planning and realisation of construction projects by developers.
Privileged building:
Privileged building refers to building in an outdoor area that is reserved for certain uses only, e.g. agriculture.
Leasehold interest:
The Rent is the fee paid for the use of a property under a lease agreement.
Parcelling:
The Parcelling is the division of a property into smaller plots.
Mandatory part:
The Mandatory 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 that serves to enhance the appearance and protect against the weather.
Car park management:
The Car park management includes the management and rental of parking spaces, e.g. in multi-storey or underground car parks.
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 visualisation:
One Plan representation is the graphic representation of a building project in plans or floor plans.
Point tower block:
A Point tower block is a high-rise building with a square or round floor plan.
Prolongation:
The Prolongation refers to the extension of a loan agreement after the fixed-interest period has expired.
Q
Property dictionary - Letter Q
Price per square metre:
The Price per square metre is the price per square metre of living or usable space of a property.
Lack of quality:
A Lack of quality 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:
One Cross-sectional view is the analysis of property markets or prices in different regions or segments.
Neighbourhood development:
The Neighbourhood development is the planning and construction of new urban districts or mixed-use neighbourhoods.
Quotation:
The Quotation is the distribution of costs or revenues according to fixed shares, e.g. in a community of owners.
Quasi stock protection:
Quasi stock protection describes the protection for structures that were built before a change in the law.
Source reference:
A Source reference is the proof of the origin of information, e.g. in a property appraisal.
Transverse design:
The Transverse design 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 property projects.
Neighbourhood management:
The Neighbourhood management includes measures to promote and develop a neighbourhood, e.g. through infrastructure projects.
Career changers:
A Career changer is a person who moves into the property sector without industry-specific training.
Neighbourhood garages:
Neighbourhood garages are central parks to relieve residential areas.
Quadrant model:
The Quadrant model is a method for analysing property markets on the basis of market segments in a coordinate system.
Qualification:
The Qualification includes training or further training in the property sector, e.g. as an expert.
Quarterly rent:
The Quarterly rent is the rent that is paid quarterly, especially for commercial property.
Qualified rent index:
A qualified rent index fulfils the legal requirements for calculating the customary local rent.
Troublesome tenants:
A Troublesome tenants is a tenant who often gets into conflicts with the landlord or other tenants.
Ashlar construction:
A Ashlar construction is a building shape with a rectangular, cuboid ground plan.
Neighbourhood centre:
A Neighbourhood centre is the central area of a neighbourhood where shops and services are concentrated.
R
Property dictionary - Letter R
Yield:
The Yield is the ratio between the income from a property and the investment costs.
Reserve:
One Reserve is a financial provision for future maintenance or repairs.
Renovation:
One Renovation includes measures to renovate or modernise a property.
Real burden:
One Real burden is the encumbrance in rem of a property that provides for regular payments by the owner to a third party.
Legally binding rental agreement:
A legally binding rental agreement is a rental agreement that fulfils all legal requirements and is effective.
Residual debt:
The Residual debt is the amount still outstanding after the fixed-interest period of a loan has expired.
Leaseback sale:
The Sale of leaseback is a model in which the owner sells a property and then rents it back.
Shell inspection:
One Shell inspection is the inspection of a building during the shell construction phase to check the construction progress.
Spatial development plan:
A Spatial development plan controls the long-term development of a region with regard to settlements and infrastructure.
Right of cancellation:
A Right of cancellation is a contractual right to withdraw from a property purchase or rental agreement.
Dismantling obligation:
The Dismantling obligation 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 Residence obligation is the obligation to permanently use a property as your main residence, e.g. in the case of subsidised housing.
Action for eviction:
One Action for eviction is a landlord's action to force a tenant to vacate the flat.
Right of restitution:
A Restitution claim is the right to the return of a property at the end 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 neighbouring houses by common walls.
Shell construction:
A Shell construction 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 useful economic life.
Room programme:
A Room programme is a plan that describes the functions and utilisation of the rooms in a building project.
S
Property dictionary - Letter S
Special property:
Special property is the ownership of a single flat in a block of flats that is registered in the land register.
Right of special use:
A Right of special use gives an owner the exclusive right to use a certain part of the common property, e.g. a garden, alone.
Material value:
The Material value of a property results from the production costs less wear and tear.
Remediation:
One 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, façades, windows or heating systems as well as energy efficiency measures. In contrast to renovation, which usually only involves cosmetic repairs, the aim of Refurbishment The aim is to comprehensively improve and maintain the value of the property. Refurbishments may also be legally required 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:
Compensation for damages is compensation that is due in the event of breaches of contract or defects in a property.
Turnkey:
A turnkey The building has been completed and is ready for immediate occupancy.
Expert:
A Expert is an expert who assesses the value or condition of a property.
Divorce property:
One Divorce property is a property that is divided or sold as part of a divorce.
Security deposit:
One Security deposit is the deposit of money or valuables to secure contractual obligations.
Schufa information:
One Schufa information is a credit check that is carried out before a rental or purchase agreement is concluded.
Speculation period:
The Speculation period the period in which the sale of property is taxable is 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 realised, which is considered a private sales transaction 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:
One Graduated rent is a rental agreement in which the rent is gradually increased over fixed periods.
Pitch:
A Pitch is a parking facility for vehicles on a property or in a garage.
Special levy:
One Special levy is a one-off payment required by condominium owners to cover unforeseen costs.
Final instalment:
The Final instalment is the final instalment that must be paid when buying or financing a property.
Social commitment:
The Social commitment The landlord is obliged to use a property for specific social purposes, e.g. subsidised housing.
Black building:
A Black building is an unauthorised construction that does not comply with building regulations.
Special property management:
The Special property management refers to the management of individual condominiums by a property manager.
Solar system:
One Solar system utilises solar energy to generate electricity (photovoltaics) or heat (solar thermal energy). 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
Property dictionary - Letter T
Redemption:
The Redemption Refers to the repayment of a loan in regular instalments.
Part ownership:
Part ownership is the ownership of a unit that is not used for residential purposes, e.g. an office or shop.
Declaration of division:
One Declaration of division is the declaration by which a building is divided into separate property and common property.
Escrow account:
A Escrow account is used for the secure management of funds in connection with a property purchase.
Underground car park:
One Underground car park is an underground car park that is often found in apartment blocks or office buildings.
Partition auction:
One Partition auction is a forced sale of a property that is co-owned in order to divide it up.
Redemption schedule:
A Redemption schedule 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 erected with lightweight construction elements.
Thermal refurbishment:
One Thermal refurbishment includes measures to improve the energy efficiency of a building, e.g. through insulation.
Impact sound insulation:
Impact sound insulation are measures to reduce noise caused by footsteps or movements within a building.
Transparency:
Transparency means the disclosure of relevant information about a property, e.g. in relation to defects or rights.
Terrace:
One Terrace is an outdoor area at ground level that adjoins a building and is used as an outdoor seating area.
Stairwell cleaning:
The Stairwell cleaning includes the regular cleaning of the communal stairwell, e.g. by service providers or tenants.
Partial repayment:
One Partial repayment makes it possible to repay part of a loan early and reduce the residual debt.
Partial delivery:
One Partial delivery is the delivery of construction services in several stages.
Transport costs:
Transport costs are costs incurred for the transport of building materials or relocation.
Civil engineering works:
Civil engineering works is construction work that takes place below the surface, e.g. for foundations or pipes.
Thermography:
Thermography is a method for visualising heat losses in buildings using infrared images.
Partial sale:
The 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 contracts.
U
Property dictionary - Letter U
Value added tax:
The Value added tax is incurred for commercial property sales and lettings.
Subletting:
One Subletting is a tenancy in which the tenant sublets part of his flat to a third party.
Conversion:
The Conversion is the change in the type of use of a property, e.g. from rented flats to owner-occupied flats.
Basement:
The Basement the floor below the ground floor is often used for storage space or underground car parks.
Allocability:
The Allocability describes the costs that the landlord may pass on to the tenant, e.g. operating costs.
Maintenance obligation:
The Maintenance obligation is the obligation of the owner to maintain a property in a serviceable condition.
Subletting licence:
The Subletting licence is the landlord's consent to the subletting of a flat by the tenant.
Remodelling measures:
Remodelling measures are structural changes to a property, e.g. extensions or modernisations.
Current assets:
The Current assets The inventories of a company comprise assets that are turned over in the short term, e.g. inventories.
Reverse mortgage:
One Reverse mortgage is a financing model in which older property owners borrow against their property without selling it.
Unobstructed view:
One Unobstructed view is the assurance that the view from a property will not be restricted by future buildings.
Moving expenses lump sum:
The Lump sum for removal costs is a fixed amount that taxpayers can claim for tax purposes when relocating for work-related reasons. Instead of providing evidence of individual costs, employees can declare the lump sum in their tax return in order to reduce the relocation costs. This includes expenses for transport, 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 transport 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:
One Injunction is an action to prevent certain actions, e.g. noise nuisance from neighbours.
Turnover rent:
The 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:
One Change of use is the change of use of a building, e.g. from office to residential.
Clearance certificate:
One 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 reorganisation of land, e.g. for the development of building land.
Sublease:
One Sublease is a lease in which the lessee leases the leased property to a third party.
Environmental impact:
One Environmental impact is the exposure of a property to environmental influences such as noise, exhaust fumes or contaminated soil.
V
Property 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 land in priority 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, neighbours or municipalities, for example, in order to protect certain interests such as the preservation of tenancies or urban development.
Administrator:
A Administrator is a person or company that takes over the management of a property on behalf of the owner.
Landlord:
The Landlord is a person who transfers 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 property purchase.
Authorisation to dispose:
The Authorisation to dispose is the right to dispose of a property, e.g. by selling or letting it.
Asset manager:
A 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 parcel maps.
Letting guarantee:
One Letting guarantee is the assurance of the seller or property developer that a property will be let.
Supply lines:
Supply lines are lines that supply a property with electricity, water, gas or internet.
Marketing:
The Marketing is the process of advertising and selling or letting 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:
One Contractual penalty is a penalty payable for non-compliance with contractual obligations, e.g. in a construction contract.
Minutes of the meeting:
A Minutes of the meeting is the written record of the resolutions and discussions of an owners' meeting.
Statute of limitations:
Statute of limitations is the expiry of the period after which claims in connection with a property can no longer be asserted.
Conclusion of contract:
A Conclusion of contract is the finalisation of a purchase or rental agreement by the signatures of the contracting parties.
Duty to ensure road safety:
The Traffic safety obligation obliges the owner to keep his property in a roadworthy condition.
Insurance obligation:
One 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:
One Marketing strategy is the planning and implementation of measures for the successful marketing of a property.
W
Property dictionary - Letter W
Living space:
The Living space Describes the area of a flat 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):
One WG (shared flat) is a form of housing in which several people share a flat 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 an affordable housing option and can enrich social life.
Condominium owners' association:
The Condominium owners' association (WEG) consists of all owners in an apartment block who jointly manage the common property.
Thermal insulation:
Thermal insulation Refers to measures taken to insulate a building in order to minimise heat loss and increase energy efficiency.
Heat pump:
One Heat pump is an energy-efficient heating system that utilises 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.
Flat cancellation:
One Housing cancellation is carried out by the landlord or tenant in order to terminate the tenancy.
Condominium Act (WEG):
The Condominium Act regulates the rights and obligations of owners in apartment blocks.
Housing benefit:
Housing benefit is the monthly payment for operating costs and reserves made by the owners of a flat in a WEG.
Thermal bridge:
One Thermal bridge is a point on the building where more heat is emitted to the outside and thus energy is lost.
Home ownership:
Home ownership refers to the ownership of a flat that is entered in the land register.
Advertising ban:
A 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:
One Increase in value of a property occurs as a result of modernisation measures or positive market developments.
Right of residence:
A Right of residence grants a person the right to occupy 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:
One Impairment occurs when the value of a property decreases due to wear and tear or external influences.
Residential area:
The Residential area of a property describes the quality of the environment in terms of infrastructure, security and attractiveness.
Homeowners insurance:
The Residential building insurance protects the building against damage caused by fire, storm or mains water.
Thermal Insulation Ordinance:
The Thermal Insulation Ordinance lays down legal requirements for the insulation and energy efficiency of buildings.
Housing entitlement certificate:
A Housing entitlement certificate makes it possible to gain access to state-subsidised housing.
X
Property dictionary - Letter X
XPS insulation:
XPS insulation is a type of insulation material made of extruded polystyrene that is often used in the construction industry to minimise heat loss.
X-shaped design:
The X-shaped design describes an architectural design in which a building is constructed in the shape of an „X“.
Xenon light:
Xenon light is used in property 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:
One Xenon heating is a heating system that is operated on the basis of xenon gas 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 the X-direction planning special directions for light and energy flows are taken into account in property planning.
X-fold property:
One X-fold property a property is of particular importance, whether due to its size, location or market value.
X-Class property valuation:
The X-Class property valuation is a category for the valuation of particularly high-quality and exclusive properties.
X-shaped floor plan:
A 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:
One X-tiered rent describes a rental agreement in which the rent is increased in many small stages.
Y
Property dictionary - Letter Y
Yield:
The Yield is a key figure in property valuation and describes the ratio of income to investment costs.
Ytong bricks:
Ytong bricks are aerated concrete blocks that are widely used in construction and are characterised by their lightness and thermal insulation properties.
Y-shaped design:
The Y-shaped design 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 optimised 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 construction forms in which buildings are planned and realised in a Y-shape.
Y-shaped supporting structure:
One Y-shaped support structure describes a construction method in which load-bearing elements are designed in the form of a „Y“.
Ytong House:
A Ytong House a building constructed entirely or predominantly from Ytong blocks is often described as an energy-efficient building.
Z
Property dictionary - Letter Z
Fixed interest rate:
The Fixed interest rate refers to the period during which the interest rate on a property loan is fixed.
Two-family house:
A Two-family house is a residential building with two separate residential units.
Foreclosure:
One Forced sale is a judicial procedure for the realisation of a property if the owner is unable to pay his debts.
Apartment block:
A Apartment block is a residential building that is used to generate rental income.
Forced eviction:
One Forced eviction is carried out by the bailiff if a tenant does not leave the flat despite giving notice.
Interest rate:
The Interest rate indicates the percentage of interest that must be paid annually on a loan or mortgage.
Allowance:
One Allowance is the gift or transfer of property assets, often in a family context.
Payment default:
A Payment default occurs if the debtor or tenant fails to make his loan or rent payments.
Interest rate increase:
One Interest rate increase is made after the fixed-interest period has expired if the interest rate of a loan increases.
Allocation maturity:
The Allocation maturity is the date from which a building society loan can be paid out.
Interim financing:
One Bridge financing is a short-term financing that is used until the final financing of a property.
Second acquisition:
The Second acquisition refers to the purchase of a property that was previously occupied by another owner.
Status report:
A Status 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 Immigration describes the population growth in a city or region, which often has an influence on property prices.
Authorisation:
The Authorisation is the authorisation to use a property, e.g. for commercial purposes.
Target return:
The Target return is the return that is sought on a property investment.
Surcharge:
The Surcharge takes place 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 property loans.
Interest discount:
A Interest discount is a discount on the interest rate of a loan, e.g. through unscheduled repayments or other measures.