Property Terms
Property Contract Terms

Net Rental

Base rental excluding operating costs and rates.

Operating Costs

An amount recovered by the landlord from the tenant for the running costs of the property (security, rates, insurance, maintenance etc).

Gross Rental

Net rental plus operating costs, but excludes consumables such as water and electricity.

Escalation

Annual percentage increase in rental.

GLA

Gross lettable area.

GBA

Gross Building Area.

TI

Tenant installation allowance.

Triple Net Lease

A lease that requires the tenant to pay all the running costs for the property ie: maintenance, security, rates, insurance etc.

Common Area

Areas of the building that are for the communual use of all tenants such as entrance foyers, stairs, toilets, passages etc.

FAR

Floor Area Ratio.

Sub-Lease

A lease given by a tenant of the leased premises.

SAPOA

South African Property Owners Association.

EAAB

Estate Agency Affairs Board.

Agricultural Holding

In terms of the act,8565m² minimum.

Plot, Lot, Erf, Stand

Other names for township sites.

Leasehold

Ownership title restricted to leasing.

Freehold

Ownership can be full title or sectional title.

Deed of sale

Agreement of sale.

Floodline

1:100 year floodline building restriction.

SG Diagram

Surveyor general diagram of land dimensions and coordinates.

Pan Handle

Stand behind a stand with long access driveway.

Geotechnical study

Soil analysis with foundation recommendations.

Coverage

Maximum land area that can be built on.

Footprint

Same as coverage.

Bulk / FAR

Maximum permissible lettable/building area under roof.

Height Restriction

Maximum floors or height of building in metres.

Density

Number of dwellings per hectare.

EIA

Environmental impact assessment.

EMP

Environmental management plan.

Zoning

Land rights (business,industrial,residential,farm).

Earmarked

Potential land rights supported by council.

Proclaim

Government gazette notice.

Farm Portion

Agricultural sub-division of any kind.

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