{"id":8115,"date":"2022-07-20T13:37:15","date_gmt":"2022-07-20T13:37:15","guid":{"rendered":"https:\/\/officeguide.cz\/real-estate-slovnik-nejdulezitejsi-pojmy-ktere-se-vyplati-znat\/"},"modified":"2023-03-28T19:34:10","modified_gmt":"2023-03-28T19:34:10","slug":"real-estate-slovnik-nejdulezitejsi-pojmy-ktere-se-vyplati-znat","status":"publish","type":"post","link":"https:\/\/officeguide.cz\/en\/real-estate-slovnik-nejdulezitejsi-pojmy-ktere-se-vyplati-znat\/","title":{"rendered":"Real Estate Vocabulary And Office Lease Terms"},"content":{"rendered":"\n

Lease agreements are often drafted in English and are full of technical terms. We have put together a brief overview of the most important terms so that you don’t miss important things when negotiating your new offices.<\/p>\n\n\n\n

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ADD – ON FACTOR<\/strong> \u2013 Coefficient defining the portion of shared common areas (such as reception, lobby, corridors) that the Tenant pays in his lease.<\/p>\n

BREAK<\/strong> \u2013 Tenant\u00b4s right to terminate its lease earlier than the standard leased contract is signed for. A break option is typically after three years in the case of five year lease contracts.<\/p>\n

COMMENCEMENT DATE<\/strong> \u2013 start of the rent period<\/p>\n

CONTRACTION<\/strong> – reduction of the leased premises<\/p>\n

EFFECTIVE RENT<\/strong> \u2013 basic rent decreased by discounts and incentives<\/p>\n

EXPANSION<\/strong> \u2013 enlargement of the leased premises<\/p>\n

EXTENSION<\/strong> \u2013 prolongation of the lease contract<\/p>\n

FIT-OUT CONTRIBUTION<\/strong> \u2013 Landlords\u00b4 contribution to the building of partitions and any other interior equipment in the leased premises<\/p>\n

FIT OUT<\/strong> \u2013 partitions and other fittings of the leased space<\/p>\n

FAN-COIL<\/strong> \u2013 cooling and\/or heating unit<\/p>\n

FLOOR BOX<\/strong> \u2013 box situated in the raised floor used for electrical, data and telephone cabling connectivity<\/p>\n

GROSS LETTABLE\/RENTABLE ARES<\/strong> \u2013 total rentable area including the portion of shared common areas<\/p>\n

HANDOVER DATE<\/strong> \u2013 date of the return of the leased premises to the Landlord<\/p>\n

HEADCOUNT<\/strong> \u2013 number of employees<\/p>\n

HEADLINE RENT<\/strong> \u2013 basic rent with no discounts or incentives<\/p>\n

HEADS OF TERMS (HOT)<\/strong> \u2013 written agreement on the key commercial lease terms<\/p>\n

HOLDOVER<\/strong> \u2013 a short-term prolongation of the lease contract<\/p>\n

INCENTIVES<\/strong> \u2013 bonuses offered by the Landlord (rent-free periods, fit-out contributions, any others financial contribution<\/p>\n

INDEXATION<\/strong> \u2013 rental increases according to inflation, usually on an annual basis<\/p>\n

LANDLORD<\/strong> \u2013 pronaj\u00edmatel, majitel budovy<\/p>\n

LEASE CONTRACT\/LEASE AGREEMENT<\/strong> \u2013 formal document that identifies the lessor, lessee, and the leased asset of property<\/p>\n

LEASE TERM<\/strong> \u2013 leased period<\/p>\n

LEASED PREMISES<\/strong> \u2013 leased space<\/p>\n<\/section>\n\n\n\n\n

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NET LETTABLE\/RENTABLE AREA<\/strong> \u2013 the rentable area without any shared common areas<\/p>\n

OPEN PLAN<\/strong> \u2013 working place without partitions<\/p>\n

PARKING RATIO<\/strong> \u2013 proportion of parking spaces per office space (for example 1\/40 means 1 parking lot for 40 sqm of office space)<\/p>\n

RAISED FLOOR<\/strong> \u2013 raised floor for cabling.<\/p>\n

REINSTATEMENT<\/strong> \u2013 renovation of the rented space before the lease termination<\/p>\n

RENT<\/strong> \u2013 tenant’s regular payment to a landlord for the use of property<\/p>\n

RENT FREE PERIOD<\/strong> \u2013 period when the tenant does not pay rent, only service charges<\/p>\n

RfP\/Request for proposa<\/strong>l \u2013 tenant\u00b4s request for official written offer provided by the landlord<\/p>\n

RfR\/Right of first refusa<\/strong>l \u2013 tenant\u00b4sright to be offerd free-up space before others<\/p>\n

SUBLEASE<\/strong> \u2013 tenant offering part of its. Whole leased premises for further lease<\/p>\n

SUSPENDED CEILING<\/strong> \u2013 a suspended ceiling is a type of finish system that is hung below the ceiling structure within a room or building.<\/p>\n

SHELL & CORE<\/strong> \u2013 base build<\/p>\n

SPACE PLAN<\/strong> \u2013 proposal for the best use of the leased premises.<\/p>\n

SERVICE CHARGES<\/strong> \u2013 charges for services and energy added to the rent<\/p>\n

TELEPHONE BOX\/ TELEPHONE BOOTH\/COCOON<\/strong> \u2013 small room to conduct uninterrupted phone call.<\/p>\n

VIEWING<\/strong> \u2013 visit of the premises which of interest<\/p>\n

WORKPLACE STRATEGY<\/strong> \u2013 study of how the interior working space is being used<\/p>\n

 <\/p>\n<\/section>\n\n\n\n

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