Rental Glossary - B
See Efficiency Apartment.
Relates to the condition of an apartment should be in when a tenant leaves or a new tenant moves in. At the very least, the apartment should be swept clean and free of trash or unwanted household items.
See the article Apartment Inspecting Before Signing the Lease.
The process of finishing a commercial space before a tenant moves in. The construction or improvements of the space interior, which can include flooring, walls, plumbing, and electrical work, is done to meet the specific needs of the tenant.
With a build-out, negotiations between the property owner (landlord) and the tenant can occur regarding issues such as:
- What improvements will be made?
- Who will pay for these improvements?
- Who will be in charge of getting the work done?
- What will the tenant be permitted (or required) to remove at the end of the lease?
See Tenant Improvements.
A commercial lease that includes additional services such as maintenance, insurance, and property taxes, that are paid for by the landlord. The cost of these services is included in the lease amount.
A one-story house, cottage or chalet, sometimes with an attic. Bungalows are generally small, but it is not uncommon to see very large bungalows. Bungalows were originally designed to provide affordable, modern housing for the working class.
There are many types of bungalows, including raised bungalows that have partially-above ground basements to let in additional light. There are also bungalows that have additional levels such as lofts and half-levels.