Real Estate Glossary
Responsible for the content
properti Ltd.
Flurstrasse 62
8048 Zurich
Switzerland
Tel. +41 44 244 32 00
[email protected]
Company Identification Number (UID):
CHE-496.858.888
Authorized to represent:
Levent Künzi, Adrian Künzi
Term | Definition |
|---|---|
| Demolition | Dissolution of building fabric and disposal of demolition material. |
| Agglomeration | City and the legally independent suburbs that have grown together with it. |
| Account | Advance payment by the tenant for incidental expenses. |
| Sole ownership | Exclusive, undivided ownership of a thing by a single person. |
| Age depreciation | Reduction in value of the new value due to aging, damage, demolition, etc. |
| Amortization | Annual amount used to repay the capital invested over the useful life of the investment. In the case of linear amortization, which is used in the calculation of residual value, this is a constant amount over the useful life, which is equal to the investment cost divided by the useful life. |
| Amortization, repayment | Repayment of a mortgage in installments. While you can see the 1. mortgage in Switzerland is usually not paid off, the 2nd mortgage usually amortized over about 20 years or at one percent of the total mortgage per year. |
| Initial rent | Rent agreed upon at the conclusion of a new lease. |
| Investment costs | Sum of costs for the planning and realization of a structural facility. In the building construction cost plan, the fixed asset costs comprise the main groups "A Property" to "Z Value-added tax". |
| Fixed assets | Fixed assets in tangible (e.g. patents and licenses) and financial (e.g. shareholdings) terms, information (e.g. accounting information systems), the human assets (e.g. e.g. training of employees or know-how (e.g. research and development). |
| Asset value, asset cost | 1. purchase price of the property (acquisition costs), plus taxes, fees, expenses and commissions incurred in the change of ownership. 2. construction costs (prime costs); sum of land value, construction value and ancillary construction costs. |
| Customization | Adapting a structure to new requirements, without significant intervention in the structure. |
| Acquisition cost | Purchase price real estate + incidental costs real estate purchase. |
| Asset Management | Asset management is the responsible strategic and operational management of all measures influencing returns and risks at property, portfolio and company level in relation to the entire life cycle of the property(ies). |
| Attic apartment | Apartment in recessed top floor. |
| Expansion ratio | Percentage ratio between existing and legally permitted gross floor area. |
| Utilization factor | Ratio between plot area and gross floor area; defines the maximum permissible overbuilding of a plot of land. |
| Decommissioning | Intended permanent interruption of the functionality of a viewing unit in terms of maintenance. |
| Equipment | Furnishings, which are installed in a fully developed structural object and which serve the specific purpose. (e.g. wall boards in school buildings, screens in meeting rooms, reception corpus, built-in furniture). |
| Move out, early | Termination of a tenancy before the expiry of the notice period. The tenant must submit a request for early termination of the contract to the landlord. The landlord must comply with the request if the tenant can provide a solvent and reasonable substitute tenant. |
| Building frame | Poles with angled battens; intended to show the future shape and extent of a projected building for everyone to see. |
| Building owner | Client of a building investment; orders a building from the contractor. |
| Construction Cost Index (BKI) | Series of figures describing changes in the construction costs of multifamily buildings due to inflation. Index figures are published by the statistical offices of the cities of Bern and Zurich and the building insurance of the canton of Lucerne every six months with a cut-off date of April 1. |
| Building loan | Overdraft to handle payments due during construction; usually bears 1/2 percentage point higher interest than a mortgage. After completion of the building, the B. is consolidated, i.e. converted into a mortgage with a lower interest rate. |
| Site Manager | The site manager is responsible for monitoring and controlling a construction site or part of a construction site. |
| Building line | Defines the distance that a new building must maintain from traffic areas and public facilities. |
| Incidental construction costs | Components of the asset value that are not already included in the land value or construction value; e.g. gardening and sewerage work, architects' fees, interest and insurance premiums accruing during the construction period, as well as property transfer taxes, expenses and commissions. |
| Building law | 1. authority to erect a structure on another's land. 2. sum of legal norms regulating construction activity (public B.). |
| Construction costs | Sum of costs for the realization of a structure. In the building construction cost plan, the building costs comprise the main groups "C Construction building" to "G Finishing building". |
| Bauwert | 1. construction value of the building according to the construction invoices of the craftsmen and contractors. 2. real value estimate of the building; the volume of the building valued at the usual cubic meter prices for new constructions, minus the age depreciation that has occurred since its construction. |
| Load limit, deposit load limit | (Percentage) Proportion of the property value that may be mortgaged. |
| Loan-to-value ratio | (Percentage) Proportion of the asset value that banks and other lenders are willing to finance by means of mortgage loans. |
| Best Practice | Benchmarking is the search for "best practices", the best "practices" in the business world, thereby achieving superior performance compared to the competition. |
| Operating | Operation includes the regular services for the proper, economical and safe use of equipment (operating, setting, monitoring, fault management, replenishing consumables, testing, optimizing, tracking warranty). |
| Operating costs | Operating costs are those maintenance costs incurred by the owner as a result of the intended use of the property. Operating costs are: Costs of water supply and drainage, heating costs, chimney sweep fees, electricity, garbage collection, property and liability insurance, real estate taxes & "other operating costs" such as common facilities or gutter cleaning. |
| Notarization | Property purchase agreements must be notarized with a notary public. The purpose of notarization is to protect the seller and buyer from hasty decisions. |
| Managers | The manager implements strategies and concepts for optimizing the use of real estate as a resource. He is responsible for coordinating operations and maintenance, administration and services. |
| Management (building) | Totality of activities from management, operation and building maintenance. |
| Management concept | In addition to the expense-oriented services, the management concept also depicts income-oriented services (tenant management, vacancy management, contacts with authorities, etc.) and the associated financial flows. |
| Operating costs | Costs incurred as a result of managing a property. They consist of administrative costs, operating costs and value-preserving (non-capitalizable) maintenance costs. |
| Land value, land value | Market value of the undeveloped land. In the case of overbuilt land, the B. is determined from the difference between the building value estimate and the capitalized earnings value estimate (backward calculation method). In addition, the position class method is also used. |
| Gross rent | Rent including incidental expenses; usually per month for private properties, per m² and year for commercial properties. |
| Gross yield | The gross yield, expressed in the shortest formula, is the ratio of rental income to total investment costs, expressed as a percentage. |
| Gross living area | Area of all living rooms, ancillary rooms, corridors and staircases located within a dwelling; but not areas located outside, such as staircases, terraces and open balconies, as well as basement and attic rooms that are not habitable. |
| Cash flow negative | When monthly expenses exceed monthly rental income, resulting in a monthly deficit, which must be paid with the landlord's personal assets. |
| Cash flow positive | If, the monthly rental income exceeds the monthly expenses, resulting in a monthly surplus. |
| Brokerage | The brokerage is the fee of a real estate agent, which he receives after the conclusion of a sales contract. |
| Loan | By concluding the loan agreement, the lender undertakes to the borrower to provide him with a certain amount of money for a fixed agreed period of time, while the borrower undertakes to pay interest on and repay the capital provided. |
| Ceiling finishing | Finishing of a wall executed in plaster, wallpaper, paint, wood, metal, etc. |
| Deposit, Security Deposit | Amount deposited by the tenant in money. The deposit may not exceed three months' rent in the case of rented apartments and must bear interest at the usual interest rate for savings deposits (Art. 257e OR). For business premises, the deposit is freely negotiable. |
| Easement, servitude | Encumbrance of a plot of land recorded in the land register in favor of a person (right of abode, usufruct) or in favor of another plot of land (e.g. right of way). |
| Duplex apartment, duplex apartment | Apartment on two floors. |
| Effective interest rate | The effective interest rate or the "initial effective annual interest rate" quantifies the interest rate after factoring in costs and taking into account the repayment structure. |
| Equity | Capital that you have to contribute from your assets when buying a property. As a rule, 10% of the purchase price of the property. |
| Own contribution | Value generated by one's own activities and alterations to the property (free of charge). The personal contribution cannot be claimed for tax purposes. |
| Owner-occupied rental value | The rental value of an owner-occupied dwelling as determined by the tax authorities; part of the assessment basis for income taxation. |
| Property | Comprehensive right to use and dispose of a thing. The owner of a thing may dispose of it as he pleases within the limits of the law. He has the right to demand it from anyone who withholds it from him and to repel any unjustified interference' (Art. 641 CC). |
| Condominium | Common ownership of a fraction of a house property in combination with special ownership of certain rooms of the building. Each condominium is listed on a separate land register sheet. |
| Term loans | The final maturity loan is characterized by the fact that no repayments are made at all during the term, only interest is paid. The monthly installment is constant exactly the same as with the annuity loan, but includes only interest and no repayment. |
| Energy balance | Calculation of the useful, final and primary energy demand for heating, cooling, ventilation, domestic hot water and lighting of buildings. |
| Conservation | The totality of all activities and measures to safeguard the existence as well as the material and cultural values of a structure. The measures can be value-preserving or value-enhancing. |
| Renewal | Restoration of an entire structure or portions thereof to a condition comparable to the original new construction. |
| Replacement investments | Expenditure on investments that become necessary during the period under review because the useful life of parts of the project has expired. |
| Replacement tenant | Enters into an existing tenancy in place of the previous tenant. |
| Development | Creation of infrastructure for the development of a plot of land. |
| Capitalized earnings value | Measurement of the property value on the basis of an appraisal based on rental income. |
| Extension | Adapting to new requirements by adding new parts of the structure. |
| Floor | Floor. |
| Facility Management | Integration of processes within an organization for the delivery and development of agreed services that serve to support and improve the effectiveness of the organization's main activities. |
| Facade cleaning | Essential procedures, means and equipment used for facade cleaning and maintenance, serves to preserve the value and at the same time restore the original appearance. |
| Fixed-rate mortgage | Mortgage loan with fixed interest rate and fixed term of usually between 2 and 10 years. The borrower protects himself against the risk of interest rate increases, but in return cannot benefit from any interest rate reductions. |
| Funding | Financing is understood as those services which are necessary to fulfill a secured and resilient financing of the investments (on the object and company level) in compliance with the client's requirements for capital, financing and, if necessary, fund structure during the investment period as well as the portfolios. |
| Flat roof | Horizontal roof design. |
| Area type | Types of surfaces that define a building from the architectural point of view. Each room is assigned to an area type. |
| Debt capital (FK) | Debt; liabilities of the owner to banks and other creditors in the form of mortgages and loans. |
| Building insurance | The building insurance compensates damages caused by fire, tap water, storm and hail. Natural hazards resulting from flooding, backwater, earthquakes, snow pressure or avalanches must be insured additionally. |
| Railing | Safety closures for roofs and stairs. |
| General contractor (GU) | Contractor; assumes overall responsibility for the execution of construction as the owner's sole contractual partner. It guarantees quality, deadline and price. |
| Joint ownership | If several persons, united by law or contract into a community, have ownership of a thing by virtue of their community, they are joint owners, and the right of each goes to the whole thing (Art. 652 CC). |
| Floor | Horizontal section of a building; rooms of a structure arranged on the same level. Ground G.: first floor. Full G.: extends over the entire building footprint. |
| Land Register | Official register of existing rights and obligations relating to real property. |
| Real property | Ownership of land. |
| Real estate lien | Collective term for real estate liens (mortgages), promissory notes and gülts. |
| Mortgage bond | Mortgage. |
| Land charge | The land charge is exclusively registered in the land register. In the case of a land charge, the owner of the property assigns his claim in rem in writing by arranging for the entry in the land register. |
| Plot | Fixed part of the ground area, with or without structures. In addition to real property, the Swiss Civil Code also includes co-ownership shares (including condominium ownership), mines or independent and permanent rights (e.g. the building lease) among the real property (Art. 943 of the Swiss Civil Code). |
| Real estate gains tax | Cantonal and/or municipal tax on the difference between the proceeds of sale and the investment costs of real estate. |
| Green areas | Lawn, planting, etc. |
| Validity | Real estate lien; marketable claim for which only the real estate is liable. |
| Property appraisal | Tax value. |
| Property transfer tax, fee | Tax on the performance of a legal act by which ownership of real estate is transferred; historically developed from the notary's fee and land registry tax; levied partly by the canton, partly by the municipalities. |
| Main usable area | The main usable floor area HNF is that part of the usable floor area NF which serves the purpose and use of the building in the narrower sense. |
| Homeowners Association (HEV), Homeowners Association (HBV) | Association with the aim of promoting, protecting and representing the interests of homeowners, landowners and condominium owners. Advocates for the preservation and protection of private property. |
| House money | Property operating costs (various insurances, house cleaning, garbage collection, street cleaning, janitor, water/sewage, chimney sweep, etc.). |
| Mortgage, mortgage bond | 1) Lien on real property recorded in the land register, which serves creditors to secure their claims against the land owner. 2) Mortgage loan; loan secured by a lien on real property. Mortgage, variable, conventional, widely used mortgage loan, with variable interest rate and with short, usually six-month, notice period. |
| Real estate/property | Immovable thing firmly attached to the ground. |
| Real estate fund | Investment fund that invests its assets in developed and undeveloped real estate and, under certain circumstances, in equity interests in and receivables from real estate companies in accordance with the principle of geographical and property-related risk diversification. |
| Index clause | Contractual agreement according to which the adjustment of the rent to changes in economic conditions follows an index. |
| Interior design | Non-load-bearing room partitions, floor coverings, wall coverings, ceiling coverings. |
| Inspection | Determination of the condition through targeted, usually visual and simple examinations with evaluation of the same. |
| Maintenance | Preservation of serviceability through simple and regular measures. |
| Maintenance reserve | This is a reserve saved by the manager of an owners' association for future maintenance measures of the common property, which is fed by monthly payments of the owners with the house money. |
| Repair | Restoration of safety and serviceability for a specified period of time. |
| Investment | Investments are capital invested in assets (in this case real estate). This is primarily understood to mean the investment of financial resources in tangible fixed assets. |
| Investor | The investor is the financier of a construction project. It approves the credit for the realization. |
| Insulation | Sheathing of electric cables, pipelines, etc. |
| Capital, risk-bearing | equity. |
| Capitalization factor | The reciprocal of the capitalization rate. |
| Capitalization rate | Interest rate at which the annual rental income is compounded (capitalized) to estimate the capitalized earnings value. |
| Cost of capital | Mortgage and loan interest for the borrowed capital invested in a property and imputed interest for the equity contributed by the owner. |
| Cadastre | 1) Land register. Cadastral plan, land register plan, map traced by the land surveyor, on which the parcels, buildings, roads, etc. are marked. 2) Tax register. Cadastral appraisal, cadastral value, tax office property appraisal (cantons of Lucerne, Solothurn, Basel-Landschaft). |
| Purchase price real estate | The purchase price of a property agreed with the seller. |
| Purchase right, purchase option | Right, but not obligation, to acquire a plot of land at a later date on the terms agreed in advance, namely the agreed purchase price. |
| Purchase contract | If the seller and the buyer conclude a contract of sale, the seller undertakes to transfer and deliver a property to the buyer. The Buyer undertakes to pay the purchase price as consideration. |
| Deposit | Deposit. |
| Key figure | Key figures provide concentrated information on important operational issues in absolute and relative form. They are created by selecting, comparing and evaluating relevant quantitative data. |
| Consumer credit | Consumer credit refers to bank loans that serve to finance consumer goods (up to max. 80,000CHF) with consumers. |
| Control measurement | Metrological monitoring of selected parameters. |
| Costs | Costs are the valued outflows of goods and services resulting from the production of goods and services. |
| Cost rent | Regulatory principle according to which the rent may not exceed the framework of the cost-covering gross yield and rent increases must be justified by corresponding cost increases. |
| Termination | Notice of termination of a contractual relationship. In the case of tenancies of indefinite duration, the K. is only permissible on a K. date customary in the locality, if the tenancy agreement does not provide for any other regulation (exception: move-out, early). |
| Land value | Land value. |
| Vacancy rate | Percentage ratio of vacant apartments to total housing stock. Vacant housing includes all habitable, unoccupied apartments and single-family dwellings available for permanent rental or purchase. |
| Property | Developed or undeveloped land parcel (plot). |
| Real estate costs | Value of all goods and services consumed in an accounting period for the provision of residential and commercial space, including property taxes charged on the property (real estate taxes). |
Property Tax, Property tax | Is levied in 14 cantons in addition to the wealth or capital tax on real property. |
Liquidation value, Liquidation proceeds | Market value of a property on the occasion of a forced sale or a distress sale. |
| Defect | A defect in the work within the meaning of this standard is only a deviation of the work from the contract (be it a "defect" or "other deviation from the contract" according to Art. 368 CO). |
| Market rent | Regulatory principle according to which rents are determined by the free interplay of supply and demand on the housing market. |
| Rent | Temporary transfer of an item in return for the payment of a rental fee. The legal provisions on M. are governed by the Swiss Code of Obligations (Art. 253 et seq. OR) and the Ordinance on the Rent and Lease of Residential and Commercial Premises (VMWG). |
| Tenant | The tenant is the person who uses the property and generally pays a fee for it. |
| Tenant improvement | The tenant-occupied portion of the building constructed and financed by the tenant. |
| Rent increase | Increase of the rent. |
| Incidental rental costs | Incidental rental costs are expressly agreed apportionable costs which are charged to the tenant in addition to the net rent. |
| Rental potential | Maximum achievable rental income. |
| Rent control | It entered into force on 01.04.2015. This new regulation provides for a cap on rent increases when new residential space is rented out and, according to the declared intention of the political players, is intended to prevent residential rents in high-priced conurbations from skyrocketing. |
| Rent price index | Series of figures describing changes in residential rents. |
| Rental Price Cadastre | Register of rents customary in a locality or neighborhood. |
| Rental agreement | A lease agreement obligates the landlord to provide the tenant with an object for use, and the tenant to pay the landlord a rent for it. |
| Rental value | The rental value is the income estimated to be recoverable. |
| Rent | The rent is the payment owed by the tenant to the landlord for the transfer of the thing. |
| Co-ownership | If several persons own a thing according to fractions and without external division, they are co-owners (Art. 646 CC). |
| Modernization | Investment, value-adding. |
| Incidental expenses settlement | Service charges are the payment for services rendered by the landlord or a third party related to the use of the property. |
| Incidental costs of real estate purchase | Costs for notary + costs land register entry + costs land transfer tax + costs broker commission. |
| Net rent | Rent excluding incidental expenses; usually per month for private properties, per m² and year for commercial properties. |
| Net yield | Net R. (NR), percentage ratio of annual net rental income to equity. |
| New construction | Erection of a new structure. |
| New value | Insured value; amount required to construct a like-new building of the same type, size and finish. |
| Notary appointment | The prospective buyer who wishes to purchase a plot of land usually selects a notary, arranges the notary appointment and pays the notary fees. |
| Useful energy | Thermal energy that is directly available to the consumer, e.g. as heat in the room, as heat extracted from the room (cooling) or as hot water at the extraction point. |
| Users | Person who receives facility services. Note: A user could also be a visitor. |
| Usufruct | Gives the beneficiary the full enjoyment of another's asset. |
| Use | Established use (specified use) of a structure. |
| Object | Unit to be managed, rented or sold. Rental: Smallest rental unit; e.g., parking lot, apartment, or display case. Trade: object for sale; e.g. commercial building, condominium or single-family house. |
| Property Management | Property management comprises essential services that are to be provided on an ongoing basis as part of active real estate management, both in commercial and technical terms. |
| Object strategy | Describes the selected management concept for the building. |
| Skylight | Opening covered with glass/Plexiglas in a flat or gable roof. |
| Local or neighborhood customary | Rent, rent customary in the locality or quarter. |
| Lease | Temporary transfer of a usable object (e.g. agricultural land, hotel, business) or a usable right (e.g. fishing right) for use and for the receipt of the fruits or proceeds in return for the payment of a rent. |
| Rent | Payment for the lease. |
| First floor | A section of a building located at ground level. High P., floor located half a staircase above ground level. |
| Plot | Measured piece of land. |
| Primary energy | Form of raw energy that has not yet been subjected to conversion or transformation and transportation. Examples are crude oil, natural gas, uranium or coal in the ground, wood in a standing position, solar radiation, potential energy of water, kinetic energy of wind. |
| Projects | completed or planned projects. |
| Project Manager | The project manager reviews compliance with targets, takes care of customer relations and work field optimization for employees. |
| Process | A process transforms a defined input into a targeted output. |
| Framework rental agreement | A framework rental agreement is an agreement by which landlord and tenant associations jointly draw up model provisions on the conclusion, content and termination of individual rental relationships for residential and commercial premises (only valid in French-speaking Switzerland). |
| Installment loan | Here, the monthly rates are not constant, but change continuously. This is because a fixed repayment rate is agreed from the outset for an installment loan. |
| Flues | Fireplaces. |
Real value, tangible value, Substance value | Fixed asset value less depreciation of the building since its construction or purchase. Construction inflation that has occurred since purchase or construction, as well as changes in the value of the land, are included in the estimate. |
| Reconstruction | Outside of preservation: recreating an earlier structure that no longer exists. |
| Yield | Ratio of periodic earnings to invested capital; profitability ratio. Gross R. (BR), percentage ratio of annual rental income to asset value. |
| Renovation, repair, restoration | Measures to remedy defects caused by wear and tear or the effects of weather; restoration of a building or parts thereof to their original condition. |
| Restoration | Restoration of a structure of significant cultural value while preserving the existing fabric of the building. |
| Remaining use | Further use intended after a certain point in time. |
| Risk analysis | All risks associated with the management of facilities and the provision of facility services should be analyzed and their impact assessed. |
| Risk premium | Component of the rent used to cover losses from apartment vacancies and rent defaults. |
| Right of repurchase | Right of the seller to repurchase a property on the terms specified in advance. |
| Redevelopment | 1. comprehensive reconstruction and modernization of a property for the purpose of restoring profitability. 2. elimination of excessive age depreciation caused by neglected maintenance. 3. demolition and subsequent reconstruction of a building, a block of houses, a neighborhood. |
| Gable roof | Gable roof sloping on two sides. |
| Shelters | Civil Shelters. |
| Light current installations | Telephone installation, radio, TV, subordinate electrical installations. |
| Service Provider | Organization that manages and/or provides Facility Services as specified in the Facility Management Agreement. |
| Servitude | Easement. |
| Security deposit | Deposit. |
| Unscheduled repayment rights | The borrower's right to make annual unscheduled repayments of a certain percentage of the initial loan amount without having to pay an early repayment penalty. |
| Plumbing | Roof edge flashings, downpipes, gutters, etc., which are usually made of copper, lead or titanium-zinc. |
| Blocking period | Temporary ban on the sale of real estate. |
| Power installations | All electrical installations of a building. |
| Tax CH: Tax rate | For these taxes, the tax laws of the cantons usually contain only the so-called basic rate of the tax, i.e. the simple rates. The tax resulting from the basic tariff is called "simple tax". |
| Tax CH: Tax rate | The tax rate is the measure for the calculation of the tax. |
| Tax CH: Tax rate (federal tax) | For taxes whose tax rate changes with the amount of the calculation base, the various tax rates are recorded in a tax tariff. |
| Control panel | Electronic control unit for the heating or air conditioning. |
| Tax value, cadastral value, property valuation, official value | Property appraisal according to the cantonal tax law. The appraisal serves as the assessment basis for property tax, real estate tax, minimum tax, inheritance and gift tax or - via the calculation of the imputed rental value - for income tax. |
| Floor, floor | 1. synonym for projectile. 2. one of the floors located above the first floor. |
| Condominium ownership (StWE) | Co-ownership share in a property that gives the co-owner the special right to use certain parts of a building exclusively and to develop them internally (Art. 712a ZGB). |
| Net asset value | Real value. |
| Subcontractor | Organization contracted by the facility management contractor to perform a specific part of a facility service. |
| Repayment | Repayment of a mortgage in installments. |
| Total contractor | Construction contractor; assumes overall responsibility for the planning and execution of buildings as the owner's sole contractual partner. |
| Supporting structure | Main supporting structure of a building. |
| Eaves | Lower termination of a gable roof. |
| Stairs | Vertical access to a building. |
| Types/materials | Definition of the materialization of the elements, e.g. facade = compact facade plastered. |
| Overbuilding ratio | Ratio between the building footprint and the plot area; defines the maximum permissible overbuilding of a plot. |
| Overhauls, comprehensive | Measures on the building that regularly include extensive value-preserving investments in addition to value-enhancing ones. |
| Conversion | As a rule, a structural change requiring a permit that creates a new room layout or rooms that can be used in a different way. |
| Turnover rent | Assessment of rent for business premises depending on the tenant's business performance. |
| Environmental compatibility / environmental impact assessment | The environmental impact assessment is used to check whether a construction project complies with environmental protection regulations. |
| Maintenance | Maintaining a property in a condition suitable for its intended use. |
| Maintenance costs | Incurred in the elimination of structural defects caused by wear and tear and exposure to the elements. |
| Subletting | Subletting of an apartment or parts thereof by the tenant to a third party. |
| Sub-distribution | Floor distribution for the electrical, sanitary or thermal installations of a building. |
Improvement, value-adding | Investment, value-adding. |
| Comparative rent | Rent, customary in the locality or neighborhood. |
| Market value, purchase price/sale price | Price that was actually achieved for a property or that could probably have been achieved under normal circumstances. |
| Insured value, insurance value | Building appraisal for the purpose of determining fire insurance premiums and the sum insured in the event of a claim. |
| Management | Expenditure for the (commercial) management of a property. This also includes expenses for purchase, sale, developer tasks for construction, conversion, renovation, expenses for marketing, leasing as well as for portfolio management. |
Administrative and Operating costs | Administrative and operating costs are costs incurred in connection with measures of management and operation of the built facility. |
Volume digit, Building mass number | Ratio of above-ground building volume to lot area; defines the maximum allowable building coverage on a lot. |
| Early repayment penalty | Unfortunately, early repayment of the loan before the end of a fixed interest period is only possible in return for an early repayment penalty. |
| Curtain wall | Non-load-bearing facade construction. |
| Right of first refusal | right to enter into the purchase agreement instead of a third party in the event of a possible subsequent sale. Statutory V., is entitled to the preemptor by operation of law. Limited V., is equipped with a purchase price fixed in advance. |
| Hipped roof | Gable roof inclined on four sides. |
| Wall finishing | Finishing of a wall executed in plaster, wallpaper, painting, etc. |
| Heat output | Radiators, radiators, convectors. |
| Warm rent | Rental costs for real estate + utilities, which are paid by the tenant in advance. |
| Value, official | Tax value. |
| Value preservation | Preservation of values (such as buildings, apartments, machinery) through care, repair, maintenance. |
| Valuation | Process and the result of determining values such as the market value, decision value, fair market value or current value of individual assets or tangible assets by means of suitable appraisal procedures. |
| Weather protection | Entrance roofs, projecting structural elements that serve to protect against the weather. |
| Residential Density | Number of occupants per living space; according to eidg. Census 1980 nationwide 0.70 persons. |
| Home ownership rate, home ownership rate | Proportion of households that own their primary residence (owner-occupied home, condominium); according to the Swiss Federal Statistical Office. Census 1990 31.33 % nationwide. |
| Home ownership promotion | Measures aimed at broader distribution of owner-occupied house, apartment and land ownership. The postulate of promoting home ownership is enshrined in Articles 34 and 34 of the Swiss Federal Constitution (BV). |
| Shared apartment / WG | Refers to several people living together in a shared residential neighborhood who are not family members. As a rule, the bathroom, kitchen and, if necessary, living room are shared. |
| Right of residence | Authority to reside in a building or parts thereof. A W. recorded in the land register shall remain in effect in the event of a sale of the property, but may not be transferred to other persons. |
| Apartment | Rooms (including single room) suitable and intended for permanent accommodation of persons. |
| Fair value, insured value | New value less reductions in value that have occurred as a result of age, wear and tear or lack of maintenance. |
| Interest | Price for the loan of capital. |
| Interest rate, interest rate | Price for the loan of capital, expressed as a ratio of the capital (usually in percent) pro rata temporis (usually per year). Example: The interest rate is 5% per year. |
| Civil defense rooms | Generation of heat of a building, e.g. oil heating, gas heating or via air conditioning. |
| Zone / building zone | Defines the purpose, type and extent of use for a specific area or parcel of land in a generally binding manner. |
| Assignment | Main group within the condition recording. |
| Condition assessment | Summarized analysis and evaluation of the information on the current condition and the previous condition development, combined with a prediction of the further condition development and its consequences in the course of a specified remaining useful life. |