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Real Estate Jargons on your Fingertips: Tenancy / Tenant’s improvements / Turnover rent

When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.

But we give you a solution!!

Read this space every Tuesday & Wednesday for Real Estate Jargons.

Tenancy

Tenancy refers to an arrangement between two parties, landlord and tenant, which establishes the rights of possession of a tenant over the property in consideration.

Tenant’s improvements

Tenant’s improvement refers to the various improvements that are incorporated in buildings or land to meet the needs of the tenant.

Turnover rent

The rent which is measured as a proportion of annual turnover of lessee’s business.

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