Looking for Mr Right?

By Stacey Moseley 30 November 1999 | 1 minute read

Are you waiting to find the perfect property investment? Investors who hold out for the ‘textbook’ property opportunity may just end up missing out on the best returns altogether.

If there’s one thing that has become abundantly clear to me throughout my encounters with property investors, it’s that no property is perfect, nor is there ever really a ‘best’ time for anyone to buy. What’s most important is getting out there and buying something anyway.

For many investors, whether it’s that first investment or the next in a line in a series of property purchases, there are often several reasons to sit back and wait, rather than take the plunge.

Sometimes it’s that preoccupation with finding a property which ticks a long list of boxes – it has to be in suburb X, it has to have an outdoor space, 2.5 bathrooms, floorboards and a parking space.

For others, it’s waiting to find the right moment, between overseas trips, weddings and children. According to the experts however, most of the time, it’s better to do something, than nothing at all.


Chris Gray, CEO of portfolio building specialist Empire, bought his first investment property in the UK for just £80,000 ($A113,000) at just 22 years of age.

“I bought this property for so much less than what many of my friends are looking at paying now,” he tells. Indeed, you’d be extremely hard pressed to find a decent property for just $100,000.

According to Gray, his first investment property is now worth £350,000 ($A560,000). So in 17 years, that is an increase in value of $A447,000 – or 400 per cent. That works out to be a 23 per cent increase in value per annum – much more than anyone could ever get with a high interest savings account.

With a long term strategy in mind, so long as you take a reasonably cautious approach, a decent property is going to deliver growth in the long term, he says.

“You’ve just got to do it,” he says.

Moreover, there’s no better teacher than experience.

“You’ll never know everything, you learn as you go,” says Mr Gray – so it would make sense that the more you practice, the better you’re going to get.

So if you’ve been contemplating a purchase it might just be time to reconsider your plans and ask yourself exactly what you’re waiting for and why.



Abandonment is the act of surrendering a claim to a lease agreement by a tenant.

Accumulated depreciation

Accumulated depreciation refers to the total amount of depreciation expense allocated for an asset or property since it was acquired and used.

Acquisition costs

Acquisition cost is defined as the expenses or amount paid for the purchase of a new property.


The address refers to a place where a person lives or the location of an organisation or establishment.

Adjustable-rate mortgage

An adjustable-rate mortgage is a type of mortgage wherein the interest rate varies or changes throughout the loan.

Adverse possession

Adverse possession is the exclusive occupation and use of someone else's real property without permission of the owner continuously for years prescribed by law, thereafter giving title to the occupier-user.

Advertising costs to find tenants

Advertising costs to find tenants refers to the expenses incurred by a landlord to promote their vacant property for rental or lease.

Affordable housing

Affordable housing refers to a residential property that a household can afford to pay for aside from their necessities.


An agent is a real estate professional licensed to guide property buyers and sellers with their transactions.


An agent is a person authorised to act as a representative in the selling, buying, renting, or management of a property.

Air pollution

Air pollution is the contamination of the air caused by smoke, harmful gases and solid particles suspended in the air.


Alienation is the complete and voluntary transfer of title from one person to another, which is essential to complete property ownership.

All-cash purchases

An all-cash purchase refers to a transaction all paid in cash, with no loan involved, in exchange for a property.


Amenities are tangible features or intangible benefits of a property that create value.


Amortisation refers to the process of spreading out payments over time to write down the value of a loan.

Annual depreciation

Annual depreciation is defined as the standard yearly rate of depreciation that is charged to a fixed asset such as a property.


An apartment is a personal residence within a house or building occupied by several tenants.


API stands for the Australian Property Institute, which is a membership organisation for property professionals.


Appliances refer to an apparatus or device, usually powered electrically, used in homes to perform domestic functions.


An appraisal is an act of assessing the value of a property, determined by its features and the value of surrounding properties, to secure a mortgage loan.


An area refers to a certain location in a town, city, region, country or the world.

Articles of Incorporation

Articles of incorporation is a legal document filed to the government to create a corporation.

Assessed value

Assessed value refers to a property's determined value to compute or calculate the appropriate property tax.


Assessment is the process of evaluation or estimation of a property's value determined by a local assessor.

Assessor data

Assessor data is a collection of publicly available information by tax assessor offices, which can then be collated into specialised reports at various levels of geography.


An asset is any resource owned by an individual or entity that provides economic value for a future benefit.


An association is a real estate trade group that consists of agents and brokers that provide training and valuable information to its members.

Balance Sheet

A balance sheet is a financial statement that consists of assets, debt, liabilities, equity capital, and other financial information of a company for the fiscal year.

Bank fees and charges on your loan accounts

Bank fees are imposed by financial institutions for account set-up, maintenance, processing of loans, and other minor transactions.


Bankruptcy is a legal proceeding that occurs when an individual or business is having difficulties or is unable to pay their debt, and creditors evaluate all their assets as repayment for a portion of their debt.

Beneficial interest

A beneficial interest, often related to a trust account, is the right to receive benefits on assets held by someone else.

Board meeting

A board meeting is a meeting of a company's board of directors to discuss policies and issues of the organisation, which is held at certain times of the year.

Board of directors

A board of directors is defined as a group of individuals that are elected to represent the shareholder's interests.

Body corporate fees

Body corporate fees are the costs each apartment owner pays to make sure the building and all its common areas are maintained and in good condition.


A bond is paid as an assurance that the tenant will not breach the conditions of tenancy and upon vacating will leave the premises in a state of good repair and order.

Bond market

The bond market is a financial market for issuing and trading debt securities, where its movement can affect fixed mortgage rates.

Borrowing expenses

Borrowing expenses can be defined as the interests and other expenses incurred for borrowing funds or taking out a loan.


A breach occurs when an individual has violated or failed to perform a term as stipulated within a contract.


A broker is a real estate agent that is licensed and has completed additional training, working independently, and can hire other agents to start their brokerage firm.


A broker is a real estate agent that is licensed and has completed additional training, working independently, and can hire other agents to start their brokerage firm.


A brownfield is an urban site that contains large parcels of unoccupied land owned by a government or industry posing a risk to human health and the environment due to contamination from hazardous waste.


Budget is defined as the estimation of expenses made over a specified time for the purchase of goods or services.

Building code

Building code refers to a set of rules and guidelines specifying the standards for the construction of buildings and other structures.

Buyer beware

Buyer beware comes from the Latin term caveat emptor, which describes the concept in contract law that places the burden of due diligence on the buyer of a good or service.


Bylaws are rules and regulations for homeowners and tenants that govern the activities within the community.


Capital refers to the financial resources that are available to be used for income generation.

Capital expenditure

Capital expenditure or capex are funds or expenses used to acquire, replace or maintain fixed assets like property and equipment.

Capital gains tax (CGT)

A capital gains tax (CGT) is a tax on the growth in value of investments incurred, which is only paid when individuals and corporations sell those investments.

Capital improvement

Capital improvement refers to permanent structural change or the restoration of a property to enhance and prolong its value or adapt to its new purpose.

Capitalisation rate

Capitalisation rate or cap rate is used to determine the expected rate of return to be generated from a property, and is also useful when comparing real estate investments.

Car expenses

Car expenses refer to the amount of money that someone spends on using a car for business purposes, which can be included when calculating taxes.


Carpet refers to any type of finished product made in whole or in part of the fabric or related material and intended for use as a floor covering.

Caveat emptor

Caveat emptor is a Latin phrase that can be translated to "let the buyer beware”, intended to resolve disputes that arise from the seller having more information than the buyer about the quality of a good or service.

CC&Rs (covenants, conditions and restrictions)

Covenants, conditions and restrictions (CC&Rs), also known as bylaws, are rules and guidelines placed on a community by a developer, neighborhood association or homeowners association.

Certificate of title

A certificate of title is a document issued under the Torrens system of title, showing ownership and interest in a parcel of land.


Chattel is defined as a form of movable personal property that is either animate or inanimate, which can be bought through a chattel mortgage.


Closing refers to the final step of a sale in which the deal for the property is finalised, the fees and downpayments are paid, and property documents and contracts are signed.


Closing refers to the final step of a sale in which the deal for the property is finalised, the fees and downpayments are paid, and property documents and contracts are signed.

Closing costs

Closing cost refers to the fees and expenses associated with the purchase of a home, paid at the closing of the transaction or when the property title is transferred to the buyer.


A co-signer is a person that will be obligated to repay a loan if the borrower is unable to do so.

Common area assessments

Common area assessment is a mandatory fee charged to individual owners in a condo or housing development for the maintenance, repairs and improvements of jointly-owned common areas.

Common areas

A common area refers to the facilities, spaces or areas available for use by tenants and homeowners.

Common law

Common law refers to a body of unwritten laws and a collection of decisions based on legal precedents established by courts.


A commonhold is a form of ownership that allows a property owner to have a freehold of individual flats, houses, and non-residential units in a building or estate with no limit on how long you can own the property for.


Community refers to a group of people that is part of a population living in the same location or geographical area.

Comparables (comps)

Comparables or comps are used to determine a recently sold asset’s value by comparing a similar asset with the features and characteristics that an owner is looking to sell.

Completed foreclosure

Completed foreclosure refers to the repossession of a real estate owned (REO) by the lender that remains unsold at a public auction.

Completed foreclosure sale

Completed foreclosure sale occurs when a property that is sold is still actively owned by the bank or the lender.


Condemnation occurs when private property is acquired, vacated or kept vacant by the government for public use.


A condominium, or simply called a condo, is a building or complex of buildings with individually-owned units and common areas.

Condominium conversion

Condominium conversion is the process of dividing property held under one title into individually owned units in a building or condominium.

Condominium hotel (aka condotel)

A condominium hotel, also known as a condotel, is a building that was meant to be a condominium but operates and provides services like a hotel for short-term rentals.

Condominium plan

A condominium plan is a document that contains the details, floor plan, features and common areas that must be reviewed before buying a condo.

Constructive trust

A constructive trust is used as an equitable remedy that is granted to address or enforce an equitable doctrine or right.

Contingent interest

According to a deed, contingent interest is an interest in real property that will only be received if a certain event occurs or certain circumstances happen.


A contract is a legal document that binds two or more parties, stating their rights and obligations to the agreement.

Conventional housing

Conventional housing, also known as public housing, provides safe and decent housing for low and moderate-income families, the elderly or persons with disabilities.

Cooperative (aka co-op)

A cooperative or 'co-op' is a residential housing option where its homeowners don't own their unit but is a shareholder whose shares are based on the size of their unit.

Council rates

Council rates are a property tax paid by all property owners within a municipality to help pay for services provided by councils to maintain local roads, facilities and public open spaces.


A covenant is an agreement or contract that constitutes a pledge to do or refrain from doing something on a property.


A covenant is an agreement or contract that constitutes a pledge to do or refrain from doing something on a property.

Crime risk

Crime risk refers to the likelihood of falling victim to crime, which accounts for a non-violent or violent crime, in a certain area.

Curb appeal

Curb appeal refers to the first impression of a homebuyer on a property's overall exterior and surroundings.


Debt refers to the amount of money borrowed from a creditor with the intention to pay back at a specified date.

Decennial liability

Decennial liability is insurance that is required of contractors that covers the costs of a building’s potential collapse for 10 years after the completion of a structure or building.


A declarant refers to developers who initially own a condominium or common interest community, establishing covenants and restrictions that will be handed over to its appointed HOA board.

Declaration of CC&Rs

Declaration of covenants, conditions and restrictions are initiated by developers to create a homeowner's association and elect its board of directors that will establish and enforce community rules.


A deed is a legal document that is an official record of an agreement or official proof that someone owns a property.


A deed is a legal document that is an official record of an agreement or official proof that someone owns a property.


A default is a result of extended payment delinquency, which leads to the foreclosure of a property to be taken over by the lender.


Delinquency occurs when a tenant fails to pay their rent which landlords or property managers consider until it becomes in default and will be subject to eviction.


Demographics refers to the statistical data relating to the characteristics of a population.


Depreciation is defined as the decline in the value of an asset.

Depreciation allowances

A depreciation allowance is an amount based on the depreciation of assets that a business can reduce its profit by when taxes are calculated.

Determinable fee

A determinable fee, also called a qualified or base fee, is an estate that will end automatically when a stated event or condition occurs, where the interest will revert to the grantor or the heirs of the grantor.

Digital mortgage applications

Digital mortgage applications refer to the digitised form for a loan application that pre-fill hundreds of fields on the form using available data, which is automatically uploaded to the loan origination system of the lender.

Directors and officers liability coverage

Directors and officers liability coverage is insurance that protects directors and officers if sued by a company or organisation, which covers losses associated with the lawsuit including legal fees.


Disposition refers to the act of disposing or getting rid of a property, where the proceeds are the amount you received for the property.

Duplex (house)

A duplex is a residential building separated into two living units, either side-by-side or on two floors, with their own entrances.


An easement is a nonpossessory right in which the title to the property remains with the landowner, but another person or organisation is given the right to use that property for a distinct purpose.

Electricity and gas not paid by the tenant

Electricity and gas not paid by the tenant must be paid by the landlord if these utilities are not separately metered.

Eminent domain

Eminent domain is the power of the government to acquire and compensate for the use of private land for public use.


An employee refers to an individual who is hired by an employer and compensated for a specific role or job.


Encroachment occurs when a part of a building or structure goes beyond its property line and trespasses onto the neighbour’s property.


Encumbrance is a claim on a property made by a party other than the current titleholder.

Energy efficiency

Energy efficiency measures how environmentally friendly a property operates, which commands a higher market value.

Equal housing opportunity

Equal housing opportunity refers to the ideology that all persons must be granted equal opportunities in buying or renting a property.

Equitable interest

Equitable interest arises where there is an interest in a property, but no legal title exists. It can only be enforced is by the Court and can be asserted against everyone except a bona fide purchaser of the legal estate.


Equity is the difference between the market value of a property and the amount owed to a lender that holds the mortgage or the loanable amount.


Equity is the difference between the market value of a property and the amount owed to a lender that holds the mortgage or the loanable amount.

Equity rich

Equity rich is a loan to value ratio of 50% or lower, which means that the owner had equity of at least 50%.


Escrow is a contractual arrangement where a third party temporarily holds an amount of money or property until a particular condition has been fulfilled.

Escrow account

An escrow account acts as a savings account where a portion of each mortgage payment is set aside to cover property taxes and insurance premiums.


An estate refers to the assets a person owns at death that could be used to pay their debts, including all personal property, real property and other liquid assets.


An estate is the value of an individual’s net worth including assets, properties, financial securities and other valuable assets.

Estate contract

An estate contract is an agreement wherein the land-owner creates or conveys a legal estate on the land that confers on the purchaser an equitable interest enforceable against third parties if registered.


Ethics is defined as the do’s and don’ts for a specific context, while professionalism refers to the certain traits that are expected from professionals.


Eviction is the act of removing a tenant from a property for nonpayment or violation of the rental agreement.

Eviction notice

An eviction notice is a formal notification sent to a tenant that must leave the property for failure to comply with a rental agreement.


Execution refers to performing something as required, fulfilling one's obligations under a contract, plan or court order.

Exterior features

Exterior features refer to the outdoor construction and external aesthetic of the home.

Fair market rents

Fair market rent is the rent that would be fair for the landlord and tenant, agreed under the lease concerning all the circumstances relevant to any negotiations for a new rent from the review date.

Fair market value (FMV)

Fair market value refers to the price of a property under normal market conditions, agreed upon by both the seller and buyer.


A fiduciary is an individual or organisation legally bound to uphold their client’s best interests ahead of their own and responsible for several business relationships such as a trustee and beneficiary, and others.

Fixed expense

A fixed expense is an amount of money that does not change such as mortgage payments, real estate taxes, insurance premiums and others.

Fixed-rate mortgage

A fixed-rate mortgage is a loan in which the interest rate does not increase for a determined period.

Flat fee

A flat fee or flat rate refers to a pricing structure that charges a fixed amount for services regardless of usage.

Flood zones

Flood zones are places or areas with a risk of flooding due to the weather, its location or proximity to a body of water.

Foreclosed property

A foreclosed property occurs when the rights and title of an owner is removed due to a defualt of due payments for the property or asset.


Foreclosure occurs when a borrower fails to pay their outstanding debt and the lender goes through the legal process of recovering the amount by taking over and selling the mortgaged property.

Foreclosure start

Foreclosure start is the beginning of the foreclosure process where the lender will notify the borrower of their missed loan repayment.

Foreclosure timeline

A foreclosure timeline refers to the average time it takes to complete the process of foreclosure.


Forfeiture occurs as a penalty for illegal conduct or default on a contract, which will result in the loss of property without compensation.


Furniture is defined as large, bulky objects used to enhance a residence, business or other space for living or working.


Gazumping is defined as the practice of refusing to sell a property to someone after agreeing to sell it and selling it to someone else who offers to pay more.


Geocodes are a set of coordinates that determines a specific address or location on the Earth's surface.

Governing documents

Governing documents refer to the declaration or other documents that govern the operation of an association, such as bylaws, articles of incorporation and other documents.

Greater Capital City Statistical Areas (GCCSAs)

Greater Capital City Statistical Areas are geographical locations that are designed to represent the eight state and territory capital cities in Australia.

Gross flipping profit

Gross flipping profit is defined as the difference between the purchase price and the 'flipped' or renovated price of a property.

Gross flipping ROI

Gross flipping ROI can be determined by dividing the gross flipping profit by the purchase price of the property.


Hail is a type of precipitation that consists of frozen solid rain that falls in small balls or pellets.


Hazards are defined as potential sources of danger, risk or harm.


Hereditament refers to any kind of property, either corporeal or incorporeal, that can be inherited.

Home equity line of credit (HELOC)

Home equity line of credit refers to the loan agreement where the lender will give a maximum amount within a time frame.

Home flip

The term home flip refers to the process of buying a property to be renovated and sold at a profit.

Homeowner's association (HOA)

Homeowner’s association, or simply HOA, is an organisation that enforces rules and guidelines within the property for residents in a subdivision, condominium or community.

Homeowner's insurance

A homeowner's insurance covers the liabilities and any hazards to a homeowner’s property and assets.

Hot water system

Hot water heating systems are built to provide radiant heat through a boiler where hot water will be circulated throughout the house or building.


A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.

House size

House size determines the square footage of a house that has an impact on the property's value, tax and potential renovations.


HVAC stands for heating, ventilation and air conditioning, which is a system within a residential and commercial building that provides heating and cooling.

Implied trust

An implied trust is a trust imposed by law to situations by presuming an intention of the participants to create a trust or simply because of the facts at hand.

Income levels

Income level is defined as the classification for the amount of money available, after taxes and contribution, that an individual can use to spend and buy consumer goods.

Income tax

Income tax is a type of tax that governments impose on income generated by businesses and individuals, used to fund public services, pay government obligations and provide goods for citizens.


Indefeasible is defined by law an as estate or right that cannot be defeated, revoked or made void.

Independent contractor

An independent contractor is a self-employed individual or entity that provides services only as required under a written or verbal agreement with another entity.

inspection cost

Inspection cost refers to the expense made for the examination of a property's safety and current condition.

Institutional investor purchases

Institutional investor purchases are the sales of a residential property to non-lending entities that acquired at least 10 properties within a year.


In real estate, insurance is a contract or policy that protects an individual or entity’s property from damages and losses, receiving reimbursement from an insurance company.

Insurance – building, landlord, etc.

Insurance for buildings and landlords are coverages that protect landlords from property damage, rental income lost due to a property’s temporary habitability, and liability protection.


Interest is the amount of money charged by a lender or financial institution for a loan, which is calculated as the percentage of the principal amount paid over the loan term.

Interior features

Interior features refer to the elements, characteristics and design inside a property.

Investment property

An investment property refers to a land, condo unit or building purchased to earn profit through rentals or capital appreciation.

Joint tenancy

Joint tenancy is a legal arrangement between two or more people that own a property together with equal rights and obligations.


Judgment is a court order that determines the rights and obligations for each party in a contract, usually monetary, and is legally enforceable.

Judgment lien

A judgment lien is a nonconsensual lien attached to a property, a court ruling that grants a creditor to take possession of a debtor’s property for failure to fulfil their contractual obligation.

Land charge

Land charge is a restriction or prohibition imposed on a particular piece of land either to secure the payment of a sum of money or to limit the use of the land.

Land tax

Land tax, also known as property tax, is the fee paid on the purchase of a property owned by an individual or other legal entity.


A landlord, also known as a lessor, refers to an individual that owns a leased property.

Landlord insurance

Landlord insurance is a policy for landlords that covers financial losses, or the cost to replace or repair damages, that may occur to a residential investment property and its contents.

Landlord-tenant law

Landlord-tenant law determines the rights and obligations with regard to a rental property for both the landlord and tenant.

Landslide risk

A landslide risk refers to the possibility of a landslide occurring in a certain area or location, as well as the potential damages to property and loss of life.

Late charge

A late fee refers to the amount charged by a creditor when a borrower makes a late payment of their loan or mortgage.

Lead-based paint disclosure

Lead-based paint disclosure is a legal document stating that a property built around the 1970s, made available for sale or rent, has potential risks for the use of lead-based paint.


A lease refers to a contract between a landlord and tenant for the use of a property in exchange for a certain amount, under certain conditions for a set period of time.

Lease option

A lease option is a type of contract that gives a tenant the option to purchase the property at the end of its rental period.

Lease renewal

A lease renewal is a legal document with the purpose to extend the lease for another term, with minor changes such as the rental amount and other conditions deemed necessary.

Lease term

The lease term refers to the noncancelable duration of time that a tenant is allowed to occupy or use the property.

Leasing agent

A leasing agent provides their services by screening potential tenants and preparing lease documents, acting as a representative of the property owners.

Legal estate

A legal estate refers to the right to own property for a particular time or permanently.

Legal expenses

Legal expenses refer to the attorney fees, court costs and litigation expenses incurred during a trial, proceeding or processing of legal documents.

Legal interest

Legal interest in a property refers to the right of a legal owner to possess or use property, giving them free will should they decide to sell or transfer the property.


The lessee, better known as the tenant, is the one granted the right to use or occupy the property as stated in the lease agreement.


The lessor, also known as the property owner, is the one who rents out their property and earns income from it.


A licence is a document or permission granted by a qualified authority permitting a licensee to do something that would otherwise be prohibited.


A lien is a legal right of a creditor to possess, seize or sell a collateral property of a borrower who is unable to meet their obligations for a loan or contract.

Life interest

A life interest is a form of right for an individual to use a property and be entitled to any income generated from the property within their lifetime.

Liquid asset

A liquid asset refers to an asset you own that can easily be converted into cash retaining its market value.


A listing refers to property available for sale.

Loan model

A loan model identifies and positions the active loans for a property.

Long-term rental

Long-term rental is a property for lease with a longer agreement at standard rates including utility bills.

Lot features

Lot features are defined as the characteristics of a parcel of land.

Lot size

A lot size is defined as the size of a parcel of land.

Low-income tax credit (LITC) properties

Low-income tax credit properties refer to a tax incentive for developers that subsidises the creation of housing for low-income individuals and families.


Maintenance is the act of preserving and keeping an asset, property or equipment in good condition through checkups and repairs.

Maintenance cost

The term maintenance cost refers to any expense incurred by an individual or business to keep an asset in good working condition.

Management agreement

A management agreement is a contract with the owner of an income-generating property and an individual or entity that will manage the property.

Market rate

Market rate, also known as going rate, is the standard price of goods and services influenced by a free market.

Market trends

Market trends represent the overall direction or movement of a market.

Marketing list

A marketing list is a tailored list of property data and information useful to homeowners and buyers.

Master association

Master association is an umbrella term for an organisation authorised to oversee HOAs in common interest communities.

Minor interest

Minor interest is a loose term used in place of the term ‘registrable interests’, which refer to those rights that can be applied to land, yet are secondary to the registered estate.

Money market account

Money market accounts are offered by banks and credit unions that earn a higher interest rate than a regular savings account, and often comes with a debit card or checkbook.

Money market fund

A money market fund refers to a type of mutual fund that invests in short-term debt instruments, cash, and cash equivalents, which are considered low-risk, generating income but with minimal capital appreciation.


Mortgages are loans that are used to buy homes and other real estate where the property itself serves as collateral for the loan.


Mortgages are loans that are used to buy homes and other real estates where the property itself serves as collateral for the loan.

Mortgage loans data

Mortgage loans data is a public record of details

Mortgage-backed securities

Mortgage-backed securities are shares of a home loan that is sold to investors as tradeable assets.


A mortgagee-in-possession occurs when a lender has a court order to take over and sell a property to reduce the borrower's debt owed on the property.

Multi-dwelling units

Multi-dwelling units or MDUs refer to the multiple individual units contained within a building for residential inhabitants to buy, lease or rent.

Natural rights

Natural rights are inalienable and universal rights of a person that are not dependent on laws, customs or beliefs from any particular culture or government.

Negative gearing

Negative gearing occurs when the rental income of a property is not enough to cover the total costs of managing the rental and re-paying the interest portion of the loan.

Neighborhood boundaries

Neighborhood boundaries are defined by land use, major streets, and predominant man-made and natural features with subjective boundaries for the surrounding property owners.

Net operating income (NOI)

Net operating income measures the profitability of an income-generating property before operating expenses, financing costs or taxes.

Non-liquid asset

Non-liquid assets refer to assets such as equipment, vehicle or real estate that are difficult to liquidate or convert into its cash value.


A notary is an individual who acts as a witness in signing documents such as deeds, estates and other legally binding contracts.

Notice of default

Notice of default is the initial notice sent to a homeowner in default, starting the foreclosure process.

Notice of foreclosure sale

Notice of foreclosure sale is an instrument used in a judicial foreclosure.

Notice of trustee's sales

Notice of trustee's sale is a notification of a public auction of a foreclosure property if the owner doesn’t settle their balance during the default period.

Operating budget

The operating budget consists of the future expenses and potential revenue generated from the business activities of a company or organisation.

Operating rule

Operating rules refer to a document that contains sets of policies, regulations and procedures that govern the operations of an entity or association.


Overreaching occurs when a person's equitable property right is dissolved, detached from a piece of property, and reattached to money that is given by a third party for the property.

Overriding interest

Overriding interests are interests that are not registered and unprotected by the land registry, which still binds a party who acquires land that is subject to that interest.

Ownership data

Ownership data refers to the information used to validate an individual or company's ownership of a property.


A parcel is a plot of land that is owned by an individual.

Parcel boundaries

Parcel boundaries, which are also known as property boundaries, refer to the geographical boundaries of land or property.

Part performance

Part performance doctrine is an equitable principle that allows a court to recognise and enforce an oral contract and a party can establish the existence of a contract despite the lack of any written evidence.

Percentage fee

Similar to a commission or service charge, a percentage fee pertains to a percentage of a payment that goes to the property manager for their services.

Percentage of home ownership

Percentage of home ownership is data that refers to the portion of the population that owns a home or property.

Personal property

Personal property is defined as an asset other than properties that are movable and can serve as collateral for loans, such as chattels, artwork or automobiles.

Persons With Disabilities Act

I don't think this is Australian and the definition is for a property inspection

Pet screening

A pet screening refers to a background check conducted on a tenant’s pet to give the landlord an idea of their behaviour and health.

Planned unit development (PUD)

Planned unit development is a self-contained town usually formed in urban areas that consist of condominium buildings and townhome communities.

Point of interest

Point of Interest is defined as a specific area or point location with information that an individual might find useful or interesting.


Polluters can be an individual or a group responsible for contaminating the environment of a certain area with harmful wastes.


A population is a group of individuals who are inhabitants of a particular location, region or country.

Postal ZIP code

Postal ZIP codes are four-digit numbers placed at the end of an Australian address to assist and simplify mail delivery.


Pre-qualification is the act of evaluating an individual’s qualification to the initial criteria or conditions provided by a lender before granting a loan or mortgage.


Prescription is the process of acquiring rights and obtaining a good title for a property as a result of the passage of time.

Primary residence

Primary residence is defined as the main location of a property an individual inhabits.


A principal is a term used in Australia that refers to a client or proprietor in contracts, as well as a licensed estate agent responsible for an agency’s legislative compliance activities.

Priority of mortgages

Priority of mortgages refers to the order in which two or more mortgages of the same property take effect.


Privity is the relationship by blood, lease or service between two parties that is recognised by law.

Profit à prendre

Profit à prendre is a French term that stands for ‘right of taking’, which is a right to take something from the land of another that is both capable of ownership and a product of nature.

Profit and loss statement

A profit and loss statement is a financial statement that contains a summary of revenues, costs and expenses incurred during a given period, which is synonymous with an income statement.

Proforma budget

A pro forma budget is prepared beforehand for possible changes within the company that may affect an entity’s operations and finances.


Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Property characteristics

Property characteristics refer to the data and information with regards to property.

Property inspection

A property inspection is conducted by a licensed professional to check the structural integrity of a building. This also applies to a buyer doing a visual inspection before the turnover of a property.

Property management agreement

A property management agreement is a contract granting an individual or company the responsibility to manage a property on behalf of its owner.

Property manager

A property manager is an individual or company hired to handle the day-to-day operations, maintenance and administration of a residential, commercial or industrial property on behalf of its owners.

Property manager fees and commissions

Property manager fees and commissions are professional fees paid to real estate agents who will oversee the rental of your property.

Property showing

A property showing may refer to a private viewing or open house of a property for sale so that potential buyers and their agents can decide whether to make an offer or not.

Property taxes

Property tax is a tax paid on real estate or tangible assets owned by an individual or legal entity, calculated by the local government where the property is located based on the value of the property.

Property taxes

Property tax is a tax paid on real estate or tangible assets owned by an individual or legal entity, calculated by the local government where the property is located based on the value of the property.

Property taxes

Property tax is a tax paid on real estate or tangible assets owned by an individual or legal entity, calculated by the local government where the property is located based on the value of the property.

Property use

Property use refers to the purpose of a property, which is a factor that affects its level of risk and mortgage rates.


Proration is an agreement between a buyer and seller, dividing the expenses to purchase a property, which ensures each party only pays for the time they owned the property.


A proxy is a legally authorised individual or agent representing another party to vote without being physically present at a board meeting or shareholder’s meeting.

Puisne mortgage

A puisne mortgage is a legal mortgage of unregistered land that is not protected by the mortgagor depositing the title deeds to the land with the mortgagee.

Quantum meruit

Quantum meruit is a Latin term that stands for ‘as much as he has deserved’, which is an equitable remedy that provides restitution for unjust enrichment.

Quasi ex-contractu

Quasi ex-contractu is a Latin phrase that stands for ‘as if from or by contract’, which is an obligation imposed by law to prevent unjust enrichment.

Real estate

Real estate is a type of real property that refers to any land and its permanent improvement or structures that come with it, whether natural or man-made.

Real estate agent

A real estate agent is a licensed professional authorised to act as a representative for buyers or sellers in a property transaction.

Real estate cycle

The real estate cycle, also known as the property cycle, is a sequence of events that subsequently affect the supply and demand of real estate in the property market.

Real property

Real property is defined as the physical property of real estate including its rights, interests and benefits related to its ownership.


This is American


Rectification is an equitable remedy where the Court can amend the terms of a legal document because of a mistake or failure to accurately reflect the intention of the parties involved.

Redemption (equity of)

Equity of redemption is the right of a mortgagor to redeem the property on payment of the principal, interest and costs.

Registered land

Registered land is an officially developed property that is ready to be built on or can be sold on to other owners.


The remainder is a future interest held by a person on a property of another that will be effective upon the expiration of the other property interests created at the same time as the future interest.


Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

Rent collection

Rent collection is the process of collecting payments from its tenants, personally done by the landlord or by an agency.

Rent guarantee insurance (rent default insurance)

Rent guarantee insurance or rent default insurance is a policy that protects the landlord from losses should a tenant default their rent payment.

Rent roll

A rent roll is a report that contains detailed information on the rental properties, their tenants and the amount they pay.

Rent schedule

A rent schedule is defined as a written schedule of rental payments by a tenant, used to track expenses on the property and monitor its income.

Rent to own

A rent-to-own agreement allows a tenant to rent the property with the option to buy it before the lease expires.

Rental discount

Rental discount, better known as lease rental discounting, is a tool that can be used to apply for a loan through rental receipts as collateral.

Rental property

A rental property refers to homes or apartments used as dwellings for tenants.

Rental property advertising (marketing)

Rental property advertising refers to the different strategies that landlords use to have a desirable property listing, attract the best tenants, and lease their property to earn the most income.

Rental rate

The rental rate refers to the amount charged by a landlord for the use of a property.

Renter insurance

Renter’s insurance is a policy that covers a tenant’s belongings within the rental property, as well as liabilities and living expenses should there be any loss or damage.


Repairs are defined as the act of fixing or replacing something to restore it to its original condition.

Repairs and maintenance

Repairs and maintenance expense refers to the costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition.

Repossessed property

Repossessed property, also known as foreclosed property, is a house that has been seized by the lender due to defaulted payments by the previous owner.

Reserve study

A reserve study refers to the assessment of an association’s assets to determine its estimated lifespan and the cost to replace or repair them.


Duplicate definition

Residential boundaries

Residential boundaries, commonly called property lines, define the extent of a property with the purpose of residential use.

Restrictive covenant

A restrictive covenant is a type of agreement that restricts the buyer from taking some action or requires them to abstain from a specific action.

Resulting trust

Resulting trust refers to a type of trust that is imposed by law, where it returns the beneficial ownership in the trust property to the settlor.

Return on investment (ROI)

A return on investment (ROI) refers to the money or profit earned from a real estate investment as a percentage of its cost.


Reversion is the right of an original owner or their heirs to possess or succeed to property on the death of the present possessor or at the end of a lease.

Sales agent/Salesperson

A sales agent or salesperson is an individual that represents and is directly hired by a developer or company, with a similar function as a real estate agent or broker.

Sales history

Sales history is defined as the historical data of all transactions and loans for a property.


A school is an educational institution that provides spaces inducive for learning.

Second home

A second home is a residential dwelling aside from a primary residence, occupied for certain times of the year such as a vacation home or holiday cottage.

Security deposit

Security deposit is an amount of money paid to a landlord, lender or seller of a property as proof of intent or fund for potential losses and damages.

Short sale

A short sale occurs when a homeowner sells the property for less than the value of a mortgage.

Single family residence

A single-family residence, also known as a single-family home, refers to a stand-alone residential structure used as a single dwelling unit.

Special assessment

A special assessment is a tax levied on property owners along with their property tax to fund maintenance and construction projects within their local community.

Specific performance

Specific performance is a declaration by the Court compelling a party to perform its contractual obligations when no other remedy will adequately compensate the other party.

Stationery and postage expenses

Stationery and postage expenses refer to the cost of a document sent by mail.

Strict settlement

Strict settlement is a limitation or obstacle for selling land by an owner or designated tenant that was given a life interest on the specified land.


A structure is defined as a building, house or any infrastructure that is put together in a fixed location.


Subdivision is the act of dividing land into smaller parcels or lots that are easier to develop and sell.


A sublet or sublease is a contract where a tenant rents out their apartment to another person while their name is still on the original lease.


A subsidy is a form of financial incentive or benefits given to individuals and businesses that are renting their property to low and moderate-income people.


Superannuation or simply called 'super' is an amount set aside by an employer as a future retirement fund for their employee.


Superannuation or simply called 'super' is an amount set aside by an employer as a future retirement fund for their employee.


A survey is a document that determines the position of boundaries or property lines which shows the land, structures and features that are legally owned.

Surveyors’ fees

Surveyors’ fees refer to the professional fees paid to conduct a survey and create a drawing of a landowner's or homeowner's property.


A synallagmatic or bilateral contract is one by which each of the contracting parties binds himself to the other, creating a mutual obligation.

Tax-related expenses

Tax-related expenses are the total amount of taxes owed by an individual, corporation or other entity to a taxing authority or the government.

Tenancy at sufferance

Tenancy at sufferance is an agreement that allows a tenant to legally occupy the property after the lease expired, following the original lease conditions until the owner decides to evict the tenant.


A tenant, also known as a renter or occupant, is a person or entity that leases space for residential or commercial use.

Tenant application

A tenant application or rental application holds the personal information of interested tenants for landlords to decide if they will agree to lease the property.

Tenant damages

Tenant damage refers to the loss or damages caused by a tenant’s misuse or abuse of property, resulting in its reduced value or usefulness.

Tenant screening

Tenant screening is the process used by landlords and property managers to do a background check on prospective tenants and assess their compliance with the lease agreement.


Tenure is how a party holds or occupies an area of land and identifying who has the right to use and occupy it. It can also be referred to as the relationship between people and land.

Term of years absolute

The term of years absolute means a leasehold estate in land, which is a term of years that may or may not be brought to an end by notice, forfeiture or any other event except the death of any person.

Third-party foreclosure auction sale

A third-party foreclosure auction sale occurs when a foreclosed property is sold to a third-party buyer that is not connected to the foreclosing bank.

Three-day notice

A three-day notice occurs when a landlord notifies the tenant to pay their delinquent rent within three days or be evicted from the property.


A title refers to a legal document as basis for ownership or a person’s right to use a property.


A title refers to a legal document as basis for ownership or a person’s right to use a property.

Title company

A title company is an entity that examines title claims and verifies ownership of the real property to determine its legal owner.

Title insurance

Title insurance is a special policy that protects the lender and homeowner from possible risks that can threaten legal ownership and the right to use the purchased property.


Tornadoes are a natural hazard that occur from a thunderstorm creating a destructive vortex of air.


A townhouse refers to multi-floor homes sharing one or more walls with adjacent homes and has its own entry points.

Toxic sites

Toxic sites refer to certain areas where toxic wastes are dumped causing an environmental hazard.

Travel expenses

Travel expenses are costs associated with traveling to conduct business-related activities.


Trust is a fiduciary relationship in which a trustor gives a trustee the right to hold title to property or assets for the benefit of a third party.

Trust for sale

A trust for sale is a legal arrangement in which a person or organisation is asked to sell a property and to give the money made from the sale to a particular person or group of people.

Turnkey property

A turnkey property is a fully renovated home or apartment that buyers or investors can purchase to rent out and immediately earn income from the property.

Undivided interest

An undivided interest is defined as the equal right to use a property among tenants and co-owners.


Unemployment occurs when a skilled worker or a professional who wants to work is unable to find jobs.

Unregistered land

Unregistered land refers to a lot that is sold before council registration, usually offered by property developers who will develop and register the land on behalf of the buyer.


Utilities refer to the useful features necessary within a home such as electricity, water, gas, etc.

Vacancy rate

The vacancy rate is the proportion of inhabitable or vacant units available within a rental property.

Vacant property

Vacant property is an abandoned or empty property that is unoccupied and has no existing tenants using the space.

Vacation rental

A vacation rental is a furnished house or apartment that is professionally managed to be a temporary dwelling for tourists and vacationers.


Valuation is defined as the evidence-based process of assessing the value of a property provided by a qualified professional.

Walk-through inspection

A walk-through inspection is conducted by a buyer and professionals to look for serious structural issues, repairs and improvements that have been done on a property.

Water charges

Water charges refer to the charges made for the use of a public water supply.


A wildfire is an uncontrolled and unplanned fire that occurs in a rural area caused by an accumulation of combustible vegetation.

Writ of restitution

A writ of restitution is a document that states a judge’s order to evict a delinquent tenant from a rental property.

Zoning use

Zoning use can be referred to how land is used or its purpose in a specific area or location.

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