Dictionary

Group License

Definition:   a right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer. Pronunciation:   \ˈgrüp\ \ˈlī-sən(t)s\ Used in a Sentence:   The sales...

Ground Lease

Definition:    A lease of land alone, sometimes secured by improvements placed on the land. Pronunciation:   \ˈgrau̇nd\ \ˈlēs\ Used in a Sentence:   We signed a ground lease for the property we wanted...

Gross Rent Multiplier

Definition:   A rule of thumb for estimating the market value of income-producing residential property. Pronunciation:   \ˈgrōs\ \ˈrent\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence:   The agent used the gross rent multiplier when estimating the...

Gross Lease

Definition:  A lease of property in which the lessee pays a fixed rent and the lessor pays all of the expenses associated with the property. Pronunciation:   \ˈgrōs\ \ˈlēs\ Used in a...

Gross Income Multiplier

Definition:  a rule of thumb for estimating the market value of commercial and industrial properties,  the ratio to convert annual income into market value. Pronunciation:   \ˈgrōs\\ˈmär-kət\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence: ...

Green Belt Law

Definition:  legislation that authorizes county property appraisers to assess land used for agricultural purposes according to its current value as agricultural land. Pronunciation: Used in a Sentence:   Florida’s Green Belt...