OCCUPANCY RATE The percentage of properties in a given area that are occupied.
Category: O
OCCUPANCY COST RETOTD Episode 00293
OCCUPANCY COST The actual dollars paid out by the tenant to occupy the space. It can be expressed in either pre-tax or after-tax dollars.
OPEN SPACE RETOTD Episode 00232
OPEN SPACE An area of land or water dedicated for public or private use or enjoyment. Any land which has not had any significant buildings or structures erected on it. Most often used to describe desirable neighborhood features like parks.
OBSOLESCENCE RETOTD Episode 00231
OBSOLESCENCE In reference to the inadequacy, disuse, outdated, or non-functionality of facilities, infrastructure, products, or production technologies due to effects of time, changing market conditions, or decay (a factor considered in depreciation to cover the decline in value of fixed…
ORIGINATION RETOTD Episode 00135
ORIGINATION The process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal.
ORIGINAL PRINCIPAL BALANCE RETOTD Episode 00134
ORIGINAL PRINCIPAL BALANCE The total amount of principal owed on a mortgage loan at the time of closing.
OPTION RETOTD Episode 00133
OPTION The right to purchase a piece of real estate within a set time period without an obligation to buy. If you rent, you may have in your lease an option to buy.
OFFER TO PURCHASE RETOTD Episode 00132
OFFER TO PURCHASE Document that lists the price, conditions and terms under which the buyer is willing to purchase the property. (Each of these means the same thing: offer to purchase, or purchase offer, or earnest money agreement, or contract…
OFF-SITE IMPROVEMENTS RETOTD Episode 00059
OFF-SITE IMPROVEMENTS Buildings, structures or other amenities which are not located on a piece of property, but are necessary to maximize the use of the property or in some way contribute to the value of the property.
OFF-STREET PARKING RETOTD: Episode 00030
OFF-STREET PARKING Designated parking spaces associated with a particular building or other structure which are not located on public streets.