Commercial Property in South Africa For Sale and To Let
Feb 10, 2025
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Glossary - Words and Terminology used in Commercial Property
O
OBSOLESCENCE
One cause of depreciation; an impairment of desira ...
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OCCUPANCY
The physical control and possession of a building ...
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OCCUPANCY
The physical control and possession of a building ...
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OCCUPANCY PERMIT
Issued by local building departments, permission t ...
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OCCUPANCY RATE
The percentage of available rental space tha ...
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OFFER TO PURCHASE
A written expression of a person's willingness to ...
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OFFICE PARK
Similar to an industrial park but for office ...
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OPERATING EXPENSES
Often referred to as op costs and outgoings. ...
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OPTION TO PURCHASE
A clause of a rental agreement allowing the tenant ...
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OUTBUILDING
A structure that is not a part of the main buildin ...
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OVERALL CAPITALISATION RATE
An income rate for a total real property interest ...
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OWNER OCCUPIED
Any property where the owner resides in all or par ...
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