| Abatement |
Often and
commonly referred to as free rent or early occupancy and may
occur outside or in addition to the primary term of the lease.
|
| Absorption |
The rate,
expressed as a percentage, at which available space in the
marketplace is leased during a predetermined period of time.
|
| Abstract
of Title |
A condensed
version of the history of title to a piece of land that lists
any transfers in ownership, as well as any liabilities attached
to it, such as mortgages.
|
| Abutting |
The joining,
reaching or touching of adjoining land. Abutting pieces of
property have a common boundary
|
| Acceleration
clause |
A
provision in a written mortgage, note, bond or conditional sales
contract that, in the event of default, the whole amount of
principal and interest may be declared to be due and payable at
once. |
| Acre |
A
measure of land equal to 43,560 square feet. |
| Ad
Valorem |
According
to value. |
| Adjustable
Rate Mortgage (ARM) |
A
mortgage loan whose interest rate fluctuates according to the
movements of an assigned index or designated market
indicator--such as the weekly average of one-year US Treasury
Bills--over the life of the loan. To avoid constant and drastic
fluctuations, ARMs typically limit how often and by how much the
interest rate can vary. |
| Adjustment
Date |
The
date on which the interest rate changes for an adjustable rate
mortgage (ARM). |
| Alienation
Clause |
A
clause in a mortgage, which gives the lender the right to call
the entire loan balance due if the property is sold, also known
as a due-on-sale clause. |
| Amortization |
Calculation
to determine a regular-interval payment plan over time, with
interest, to pay a set sum. |
| Anchor
Tenant |
The
major or prime tenant in a shopping center, building, etc. |
| Annual
Percentage Rate (APR) |
The
actual cost of borrowing money, expressed in the form of an
annual interest rate. |
| Appraisal |
A
determination of the value of something by a qualified,
disinterested expert. |
| Appreciation |
An
increase in value or worth of property. |
| Asking
(list) price |
The
price placed on a property for sale. |
| Assignee |
A
person to whom a property right is transferred. |
| Assumable
Mortgage |
An
existing mortgage that can be taken over by the buyer on the
same terms given to the original borrower. |
| Assumption
of Mortgage |
The
transfer of title to property to a grantee wherein he assumes
liability for payment of an existing note secured by a mortgage
against the property. |
| Attorn |
To
turn over or transfer to another money or goods. To agree to
recognize a new owner of a property and to pay him/her rent. In
a lease, when the tenant agrees to attorn to the purchaser, the
landlord is given the power to subordinate tenant's interest to
any first mortgage or deed of trust lien subsequently placed on
the leased premises. |
| |
|
| Balloon
Mortgage |
A
mortgage where the final payment is considerably larger than the
preceding payments. |
| Base
Rent |
A
set amount used as a minimum rent in a lease with provisions for
increasing the rent over the term of the lease. |
| Base
Year |
The
year of a lease term which is used to compare subsequent years;
usually when calculating operating expense pass throughs. |
| BOMA |
Building
Owners and Managers Association |
| BOMA
Standard |
A
nationally published standard of measuring office space.
Standards are published by other organizations and can affect
how the size of space is calculated. |
| Brokerage |
For
a commission or fee, bringing together parties interested in
buying, selling, exchanging or leasing real property. |
| Building
Classifications |
Building
classifications in most markets refer to Class "A",
"B", "C" and sometimes "D"
properties. While the rating assigned to a particular building
is very subjective, Class "A" properties are typically
newer buildings with superior construction and finish in
excellent locations with easy access, attractive credit to
tenants and which offer multitude of amenities to tenants. The
class of a building may vary depending on the location of the
property. What is a class B in one market might be a class C in
a different market. Also, as the class of the building decreases
(moves from A to B etc) the rents tend to decrease. |
| Building
Core |
The
section of the building where the restrooms, ventilation shafts,
electrical distribution, elevator shafts and stairwells are
located. |
| Building
Standard |
The
project specifications set out by the owner, usually in
conjunction with the project architect. Details the type,
quality and color selection available with respect to carpet,
paint, light fixtures, wall coverings and other project
finishes. |
| Build-out |
The
space improvements put in place per the tenant's specifications. |
| Build-to-suit |
An
approach taken to lease space by a property owner where a new
building is designed and constructed to the tenant's
specifications. |
| Buyer's
broker |
A
licensee who has declared to represent only the buyer in a
transaction, regardless of whether compensation is paid by the
buyer or the listing broker through a commission split. |
| |
|
| Calendar
Year |
A
year using the actual number of days in each month for a total
of 365 days in a year (366 days in a leap year). |
| Cap |
The
maximum allowable increase, for either payment or interest rate,
for a specified amount of time on an adjustable rate mortgage. |
| Capital
Expenses |
This
type of expense is most often defined by reference to generally
accepted accounting principles (GAAP), but GAAP does not provide
definitive guidance on all possible expenditures. Accountants
will often disagree on whether or not to include certain items. |
| Carrying
Charges |
Costs
incidental to property ownership, other than interest (i.e.
taxes, insurance costs & maintenance expenses) that must be
absorbed by the landlord during the initial lease up of a
building and thereafter during periods of vacancy. |
| Ceiling |
The
maximum allowable interest rate over the life of the loan of an
adjustable rate mortgage. |
| Certificate
of Occupancy |
A
document presented by a local government agency or building
department certifying that a building and/or the leased premises
(tenant's space) has been satisfactorily inspected and is/are in
a condition suitable for occupancy. |
| Clear
Title |
A
title that doesn't have any liens (including a mortgage) against
it. |
| Closing |
The
conclusion of a sales transaction when the seller transfers
title to the buyer in exchange for consideration. |
| Closing
Costs |
Costs
the buyer must pay at the time of closing, in addition to the
down payment which may include points, title charges, credit
report fee, document preparation fee, mortgage insurance
premium, inspections, appraisals, prepayments for property
taxes, deed recording fee and property insurance. Closing costs
can vary considerably from one financial institution to another. |
| Closing
Statement |
A
detailed written summary of the financial settlement of a real
estate transaction showing all charges and credits made, and all
cash received and paid out. |
| Commission |
The
compensation paid to a licensed real estate broker or by the
broker to the salesperson for services rendered. Usually a
percentage of the selling price of the property or the total
value of the lease. |
| Common
area |
There
are two components of the term common area. If referred to with
the Load Factor calculation, the common areas are those areas
within a building that are available for common use by all
tenants of groups of tenants and their invitees. On the other
hand, the cost of maintaining parking facilities, malls,
sidewalks, public toilets, service facilities and the like are
included in the term "common area" when calculating
the tenants pro-rata share of building operating expenses. |
| Common
Area Maintenance (CAM) |
This
is the amount of additional rent charged to the tenant in
addition to the base rent to maintain the common areas of the
property shared by the tenants and from which all tenants derive
some benefit. Most often, this does not include capital
improvements (see capital expenses) that are made to the
property. |
| Comparables |
Properties
which are similar to a particular property and are use to
compare and establish a value for that property. |
| Concessions |
Cash
or cash equivalents expended by the landlord in the form of
rental abatement, additional tenant finish allowance, moving
expenses, cabling expenses or other monies expended to influence
or persuade the tenant to sign a lease. |
| Condemnation |
The
process of taking private property, without the consent of the
owner, by a governmental agency for public use through the power
of eminent domain. |
| Condominium |
A
form of real estate, usually a dwelling with individual
ownership of separate portions of the building plus shared
ownership of the common areas. Also found in industrial parks,
where individual units are separately owned, but the common
areas (such as guard gates, common landscaping, etc) are shared. |
| Contiguous
space |
1)
Multiple suites/spaces within the same building and on the same
floor which can be combined and rented as a single unit.
2) A block of space located on multiple adjoining floors in a
building. |
| Contingency |
A
provision in a contract stating that some of all of the terms of
the contract will be altered or voided by the occurrence of a
specific event. |
| Conveyance |
Most
commonly refers to the transfer of title to property between
parties by deed. The term may also include most of the
instruments by which an interest in real estate is created,
mortgaged or assigned. |
| Coterminous |
Two
or more leases that end at the same time. |
| Counter
offer |
The
rejection of an offer to buy or sell that simultaneously makes a
different offer, changing the terms in some way. |
| CPI |
Consumer
Price Index. Sometimes used to index rental rate escalations. |
| CPM |
Certified
Property Manager. Professional designation conferred by
Institute of Real Estate Management; requires extensive
specialized education and experience. |
|
|
| DBA |
Doing
Business As. Business names or aliases filed with the county. |
| Debt
Service |
The
total amount of debt which you must pay. |
| Deed |
A
written instrument by which title to land is conveyed. |
| Default |
The
failure to meet an obligation, including lease clauses (i.e.
timely rent payment, tenant use of premises, etc) and mortgages
(i.e. timely mortgage payments, timely payoff upon due date). |
| Demising
walls |
The
partition wall that separates one tenant's space from another or
from the building's common area such as a public corridor. |
| Depreciation |
A
loss in value. |
| Disclosure |
The
making known of a fact that had previously been hidden. |
| Down
payment |
An
amount of money the buyer pays which is the difference between
the purchase price and the mortgage amount. |
|
|
| Earnest
money |
A
deposit made by the buyer as evidence of good faith in offering
to purchase real estate and to secure performance of the
contract. Earnest money is typically held by a title company, in
an escrow account during the period between acceptance of the
contract and the closing. |
| Easement |
A
right to use another person's real estate for a specific
purpose. The most common type of easement is the right to travel
over another person's land, knows as a right of way. In
addition, property owners commonly grant easements for the
placement of utility poles, utility trenches, water lines or
sewer lines. The owner of property that is subject to easement
is said to be "burdened" with the easement because he
or she is not allowed to interfere with its use. |
| Effective
rent |
The
actual rental rate to be achieved by the landlord after
deducting the value of concessions from the base rental rate
paid by the tenant, usually expressed as an average rate over
the term of the lease. |
| Eminent
domain |
The
right of the government to take private property for public use,
through court action known as condemnation. The Fifth Amendment
to the United States Constitution provides that the government
may take private property only if the owner is given "just
compensation" (usually fair market value) for his or her
loss. |
| Encroachment |
The
intrusion of a structure which extends, without permission, over
a property line, easement boundary or building setback line. |
| Encumbrance |
A
cloud against clear free title to the property which does not
prevent conveyance such as unpaid taxes, easements, deed
restrictions, mortgage loans etc. |
| Environmental
impact study |
Documents
which are required by federal and state laws to accompany
proposals for major projects and programs that will likely have
an impact on the surrounding area. |
| Escalation
clause |
A
clause in a lease which provides for the rent to be increased to
reflect changes in expenses paid by the landlord such as real
estate taxes, operating costs, etc. |
| Escrow |
A
trust arrangement by which one or more parties deposit things of
value with an authorized escrow agent in accordance with the
terms of a real estate agreement. |
| Escrow
Account |
1)
A third party account which holds money safely while a sale is
in progress.
2) An account used to save monies required for the payment of an
eventual debt. |
| Estoppel
certificate |
A
signed statement certifying that certain statements of fact are
correct as of the date of the statement and can be relied upon
by a third party, including a prospective lender or purchaser. |
|
|
| Fair
Market Value |
The
price a willing buyer will pay a willing seller for a leased
property on an "as is, where is" basis with both under
no compulsion to either buy or sell. |
| Financial
Statements |
Accounting
statements that provide specific information about a company's
financial position The include the Profit and Loss Statement,
also known as the Income Statement, the Balance Sheet, and the
Statement of Cash Flows. Financial statements can generally be
audited by an outside CPA firm or unedited and, thus, prepared
by the company. |
| First
generation space |
Generally
refers to new space that is currently available for lease and
has never before been occupied by a tenant. |
| Fixture |
Personal
property which has been attached to real estate so as to become
a part of the real property. The article must meet one of three
conditions: 1) attached in a permanent manner 2) specially
adapted to the property or 3) intentionally made part of the
real property. |
| Flex
space |
A
building providing its occupants the flexibility of utilizing
the space. Usually provides a configuration allowing a flexible
amount of office or showroom space in combination with
manufacturing, laboratory, warehouse etc. |
| Force
majeure |
A
force that cannot be controlled by the parties to a contract and
prevents said parties from complying with the provisions of the
contract, for example a hurricane. |
| Foreclosure |
A
procedure by which the mortgagee (lender) either takes title to
or forces the sale of the mortgagor's (borrower's) property in
satisfaction of a debt. |
| Full
service rent |
An
all-inclusive rental rate that includes operating expenses and
real estate taxes for the first year. The tenant is generally
still responsible for any increase in operating expenses over
the base year amount. |
|
|
| Government
survey method |
A
system of land description which uses meridians (north and south
lines) and base lines (east and west lines). Areas include
quadrangles (24 miles on each side), townships (6 miles on each
side) and sections (1 mile on each side). |
| Gross
lease |
A
lease in which the tenant pays a flat sum for rent out of which
the landlord must pay all expenses. |
| Gross
Square Foot |
Usually
the total building square footage, including elevator shafts,
vertical penetrations, equipment areas, ductwork shafts and
stairwells. |
| Ground
rent |
Rent
paid to the owner for use of land, normally on which to build a
building. |
|
|
| Highest
and best use |
The
use of land or buildings which will bring the greatest economic
return over a given time which is physically possible,
appropriately supported and financially feasible. |
| Hold
harmless |
In a
contract, a promise by one party not to hold the other party
responsible if the other party carries out the contract in a way
that causes damage to the first party. |
| Hold
over tenant |
A
tenant retaining possession of the leased premises after the
expiration of a lease. |
| HVAC |
Heating
Ventilation and Air Conditioning |
|
|
| IREM |
Institute
of Real Estate Management. Asset and property managers,
extensive educations programs, conferences and networking. |
| ISDN |
Integrated
Services Digital Network A high-speed data and media
communication system, as much as ten or more times faster than
conventional phone lines. |
| |
|
| Lease |
A
contract giving the lessee the right to use the leased property
for a period of time. |
| Lease
Term |
The
fixed term of the lease. |
| Leasehold
improvements |
Improvements
made to the leased premises by or for a tenant. Generally,
especially in new space, part of the negotiations will include
in some detail the improvement to be made in the leased premises
by the landlord. |
| Legal
description |
A
description of a specific parcel of real estate which is
acceptable to the courts in that state, and which allows an
independent surveyor to locate and identify it. Usually it uses
one of the following methods: government survey, metes and
bounds or recorded plat (lot and block number). |
| Lessee |
The
user of the leased property under the lease. |
| Lessor |
Depending
on the type of the lease, either the owner of the leased
property or the owner of the security interest in the leased
property. |
| Letter
of Credit |
A
specific arrangement between a lessee and one of its banks. The
bank agrees in the event of a defined event, the lessor can look
to the bank to make payment instead of the lessee. This is
similar to a security deposit in that it is one way for a lessor
to insure that it will be paid under the lease. |
| Letter
of intent |
A
preliminary agreement stating the proposed terms for a final
contract. They can be binding or non-binding. |
| Lien |
A
monetary claim against a property. These should be settled
before the sale is finalized. |
| Listing
agreement |
The
legal agreement between the listing agent/broker and the vendor,
setting out the services to be rendered, describing the property
for sale, and stating the terms of payment. |
| Load
Factor |
The
common area calculation used to convert usable square foot
measurements (usually, the physical space actually occupied by
the tenant) to rentable square foot calculations. Usually
includes a pro rata share of restrooms, lobby and common
hallways. |
| |
|
| Market
rent |
The
rental income that a property would command on the open market
with a landlord and a tenant ready and willing to consummate a
lease in the ordinary course of business; indicated by the rents
that landlords are willing to accept and tenants are willing to
pay in recent lease transactions for comparable space. |
| Mechanic's
lien |
A
legal claim placed on real estate by someone who is owed money
for labor, services or supplies contributed to the property for
the purpose of improving it. |
| Metes
and bounds |
A
system of land description using distance (metes) and
angles/compass directions (bounds) beginning and ending at the
same point. |
| Mixed-use |
Space
within a building or project providing for more than one use
(i.e. a loft or apartment project with retail, an apartment
building with office space). |
| Month-to-month
tenancy |
A
rental agreement that provides for a one month tenancy that is
automatically renewed each month unless either tenant or
landlord gives the other the proper amount of notice (usually 30
days) to terminate the agreement. |
| Mortgage |
A
contract providing security for repayment of a loan, registered
against property with stated rights and remedies in the event of
default. |
|
|
| NACORE |
International
Association of Corporate Real Estate Executives. One of the most
progressive corporate real estate training and education
programs in the world. |
| NAIOP |
National
Association of Industrial and Office Parks |
| Net
Lease |
Type
of lease whereby the Tenant pays for part or all of the
operating expenses which may include utilities, janitorial,
property insurance, property management, sewer, water &
garbage. |
| Net
Net Net (NNN) Lease |
Type
of lease where Tenant generally pays for all operating expenses.
May even include responsibility for roof and structural repair
or replacement. |
| Non-compete
clause |
A
clause that can be inserted into a lease specifying that the
business of the tenant is exclusive in the property and that no
other tenant operating the same or similar type of business can
occupy space in the building. |
|
|
| Operating
expenses |
The
actual costs associated with operating a property including
maintenance, repairs, management, utilities, taxes and
insurance. |
|
|
| Parking
ratio or index |
The
number of parking spaces available expressed in relationship to
the rentable square footage. Expressed as X spaces per 1000
square feet, a building that offered 2 spaces for every 1000
square feet would show a parking ration of 2:1000. |
| Percentage
Lease |
Lease
in which all or part of the rental is a specified percentage of
gross income from total sales made upon the premises. |
| Personal
Guaranty |
The
guarantee of someone to be individually responsible for the
obligations of the lease. Generally for Subchapter S closely
held companies and small businesses, a lessor may ask for a
personal guaranty as a way to insure that the lease payments
will be made. |
| Plat
book |
A
record or recorded subdivisions of land |
| Preleased |
Refers
to space in a proposed building that has been leased before the
start of construction or in advance of the issuance of a
Certificate of Occupancy. |
| Prime
rate |
The
interest or discount rate charged by a commercial bank to its
largest and strongest customers. |
| Property
taxes |
Taxes
that are paid yearly on real property. Property taxes are ad
valorem, based on the assessed value of the real property. |
| Pro-rata |
Proportionately;
according to measure, interest or liability. |
| Pro-rate |
To
divide or distribute proportionally. At closing, various
expenses such as taxes insurance, interest, rents etc are
prorated between the seller and the buyer. |
| Punch
list |
An
itemized list, typically prepared by the architect or
construction manager documenting incomplete or unsatisfactory
items after the contractor has notified the owner that the
tenant space is substantially complete. |
| Purchase
Option |
Option
to purchase leased property either at the end of the lease term
or if some other specific criteria are met by the lessee. |
|
|
| Quiet
enjoyment |
The
right of a property owner or tenant to enjoy his or her property
without interference. |
|
|
| Raw
space |
Unimproved
shell space in a building. |
| Real
property |
Land,
and generally whatever is erected or affixed to the land, such
as buildings, fences and including light fixtures, plumbing and
heating fixtures or other items which would be personal property
if not attached. |
| REALTORŪ |
A
real estate broker or associate who holds active membership in a
local real estate board that is affiliated with the National
Association of RealtorsŪ. |
| Receiver |
Court-appointed
custodian who holds property for the court, pending final
disposition of the matter before the court. |
| Recorded
plat |
A
subdivision map filed with the county recorder's office that
shows the location and boundaries (lot and block number) of
individual parcels of land. |
| Renewal
option |
A
clause giving a tenant the right to extend the term of a lease,
usually for a stated period of time and at a rent amount
provided for in the option language. |
| Rentable
Square Feet |
Usually
the space measurement which incorporates both the "usable
square foot" measurement as well as the common area. The
difference between usable and rentable is generally between 10%
- 15%. |
| Right
of first refusal |
1) A
lease clause giving a tenant the first opportunity to buy a
property at the same price and on the same terms and conditions
as those contained in a third party offer that the owner has
expressed a willingness to accept.
2) A lease clause giving a tenant the first opportunity to lease
additional space that may become available in a property at the
same price and under the same terms and conditions as those
contained in a third party offer that the owner has expressed
willingness to accept. |
|
|
| Sale-leaseback |
An
arrangement by which the owner occupant of a property agrees to
sell all or part of the property to an investor and then lease
it back and continue to occupy space as a tenant. |
| Second
generation space |
Refers
to previously occupied space that becomes available for lease,
either directly from the landlord or as sublease space. |
| Security
deposit |
A
payment required by a landlord to ensure that a tenant pays rent
on time and keeps the rental unit in good condition. If the
tenant damages the property or leaves owing rent, the landlord
can use the security deposit to cover what the tenant owes. |
| Setback |
The
distance a building must be set back from the property lines in
accordance with local zoning ordinances or deed restrictions. |
| Shadow
Market |
The
"unofficial" vacancy portion of the office market
caused by available sublease space and/or excess space leased
but not occupied by office users. |
| SIOR |
Society
of Industrial and Office Realtor. One of the oldest professional
commercial designations in the United States. Approximately
1,500 members worldwide. Emphasis on corporate office and
industrial real estate. |
| Site
development |
The
installation of all necessary improvements (installment of
utilities, grading etc) made to a site before a building or
project can be constructed on such a site. |
| Site
plan |
A
detailed plan which depicts the location of improvements on a
parcel of land which also contains all the information required
by zoning ordinances. |
| Slab |
The
exposed wearing surface laid over the structural support beams
of a building to form one of the floor(s) of the building or
laid slab on grade in the case of non-structural ground level
concrete slab. |
| Space
plan |
A
graphic representation of a tenant's space requirements, showing
all wall and door locations, room sizes, and sometimes furniture
layout. |
| Special
assessment |
Any
special charge levied against real property for public
improvements that benefit the assessed property. |
| Specific
performance |
Carrying
out the precise terms agreed upon in a contract. |
| Stacking
Plan |
Schematic
illustrating tenancies on a floor-by-floor basis. Useful in
forecasting how to accommodate growth tenants and identifying
larger blocks of space. |
| Sublease |
A
rental agreement or lease between a tenant and a new tenant
(called a sublessee) who will either share the rental or take
over from the first tenant. The sublessee pays rent directly to
the tenant. The tenant is still completely responsible to the
landlord for the rent and for any damages, including those
caused by the sublessee. Most landlords prohibit subleases
unless they have given prior written consent. |
| Subordination
agreement |
As
used in a lease, the tenant generally accepts the leased
premises subject to any recorded mortgage or deed of trust lien
and all existing recorded restrictions and the landlord is often
given the power to subordinate the tenant's interest to any
first mortgage or deed of trust lien subsequently placed on the
leased premises. |
| Survey |
The
process by which a parcel of land is measured and its boundaries
and contents are ascertained. |
|
|
| Tax
roll |
A
list or record containing the descriptions of all land parcels
located within the county, the names of the owners, the assessed
values and the tax amounts. |
| Tenant
improvement (TI) allowance or work letter |
Defines
the fixed amount of money contributed by the landlord towards
tenant improvements. |
| Tenant
improvements |
Improvements
made to the leased premises by or for a tenant. |
| Time
is of the essence |
A
clause, which if included in a contract, makes failure to
perform by a specific date a material breach or violation of the
contract. |
| Title
insurance |
A
policy issued by a title company after searching the title and
which insures against loss resulting from defects of title to a
specifically described parcel of real property or from the
enforcement of liens existing against it at the time the policy
is issued. |
| Trustee |
One
who as agent for others handles money or holds title to their
land. |
| Turn
Key |
Landlord-provided
tenant improvements, usually including everything (walls, doors,
floor and window coverings, electrical) except
telecommunications wiring and tenant furniture. |
| |
|
| Under
contract |
A
property for which the seller has accepted a buyer's offer to
purchase is said to be under contract. During the period of time
the property is under contract, the seller is precluded from
entertaining offers from other buyers. |
| Unimproved
land |
Most
commonly refers to land without improvements or buildings but
can also mean land in its natural state. |
| UPS |
Uninterruptible
Power Supply. A special power source which takes over in the
event of a failure in the main power system. |
| Usable
Square Feet |
That
space measurement actually contained within the demised
premises. If the entire building is occupied by a single user,
the rentable and usable square foot calculations may be the
same. |
| |
|
| Variance |
An
exception to a zoning ordinance, usually granted by a local
government. |
| Virtual
tour |
Any
method used to provide internet users with a graphical
presentation of a property or properties. |
| Void |
Having
no legal force or effect. |
| |
|
| Waiver |
The
intentional or voluntary relinquishment of a known claim or
right. |
| Walk
through |
1)
Buyer's on-site inspection of the property being purchased just
prior to closing
2) A detailed inspection of a new construction, in which a punch
list and cosmetic items are addressed prior to final acceptance. |
| Work
letter |
A
list of the building standard items that the landlord will
contribute as a part of the tenant improvements. |
| |
|
| Zoning |
Exercise
of police powers of city in regulating and controlling the
character or use of property. Zoning laws divide cities into
different areas according to use, from single-family residences
to industrial plants. |
| Zoning
ordinances |
A
set of laws which control the size, location and use of
buildings within these different areas. |
| |
|
