CRE WORD OF THE WEEK

Good morning, welcome back to Word or the Week Wednesday! Let’s look at paid in arrears. Paid in arrears is a payment for services, such as utilities, after the services have been used, rather than paying for a service in advance. Fun fact: In Florida, real estate taxes are paid in arrears, while most insurances…

Good morning, its Word of the Week Wednesday! Let’s take a look at lessee and lessor. In a lease agreement, the lessee (tenant) is defined as the party that pays for the use of the asset or property. The lessor (landlord) is the person that receives payments from the lessee in exchange for the usage…

It’s Word of the Week Wednesday! Let’s take a look at clear height. Clear height is the height of a building starting from the ground floor to the bottom of the lowest hanging item on the ceiling. Hanging items include sprinklers, lights, structural beams, etc.