Here is a list of commonly used terms in the field of real estate rental, which can be useful to know for tenants and landlords:
Lease: rental contract for real estate
Rent: monthly payment that the tenant pays to the landlord in exchange for the use of the property
Deposit: sum of money paid by the tenant to the owner as a guarantee to cover any damage caused to the property during the rental
Duration of the lease: period during which the rental agreement is valid
Lease renewal: extension of the duration of the rental contract when it expires
Termination of the lease: ending the rental contract before its expiry
Indexation of the rent: periodic increase of the rent according to the reference rent index (IRL) or the consumer price index (CPI)
Termination clause: clause in the rental contract which allows the owner to terminate the lease in the event of non-compliance with the tenant's obligations (for example, non-payment of rent)
Inventory: detailed inventory of the characteristics and equipment of the property before and after the rental.
Charges: additional costs related to the use of the property, such as heating, electricity, water, etc.
Well-furnished: property that is rented with furniture and fittings
Unfurnished property: property that is rented empty
Visa guarantee: deposit paid by the tenant to the deposit and consignment fund to guarantee payment of rent and charges
Rental guarantee: deposit paid by the tenant to a surety organization as a guarantee of payment of rent and charges
Mobility lease: short-term rental contract (less than 12 months) intended for people on professional or student mobility
Precarious lease: short-term rental contract (less than 3 months) intended for people in precarious situations
Lease for residential use: rental contract for real estate intended to be used as a principal residence
Lease for professional use: rental contract for real estate intended to be used for professional purposes
Commercial lease: rental contract for real estate intended to be used for commercial purposes
Mixed lease: rental contract for real estate intended to be used for both professional and residential purposes
Building lease: contract for the rental of real estate which provides for the construction of a building on the leased land
Farm lease: rental contract for real estate (often a farm) for a fixed period of time, with the obligation for the tenant to cultivate the property and return part of the crops to the owner
Emphyteutic lease: long-term rental agreement (generally 99 years or more) of real estate, with the obligation for the tenant to pay an annual fee to the owner
Lifetime lease: rental contract of real estate for the duration of the life of the tenant
Lease in joint ownership: rental contract of a property by several people (joint owners) in common
Lease in company: contract for the rental of real estate by a company
Rehabilitation lease: rental contract for a property in poor condition, with the obligation for the tenant to carry out rehabilitation work
Dependent lease: rental contract for real estate with the obligation for the tenant to carry out upkeep and maintenance work
Repurchase lease: rental contract for real estate which allows the tenant to become the owner of the property at the end of the rental period by purchasing the property at the price fixed in the contract
Part-time lease: rental contract for real estate for a period less than that usually provided for in the lease contract
Renewable lease: rental contract for real estate which provides for the possibility for the tenant to renew the lease one or more times at the end of the period
initial rental
Solidarity clause: clause of the rental contract which obliges each tenant to be responsible for the full payment of the rent and the charges, even if only one of the tenants does not pay his share
Security deposit: amount of money paid by the tenant to the owner as security when signing the lease
Application fees: management and processing fees related to setting up the lease
Brokerage fees: fees collected by the real estate agent to find a tenant or owner for a property
Peaceful enjoyment clause: clause in the rental agreement which guarantees the tenant the right to peaceful enjoyment of the property without being disturbed by the owner or other persons
Forfeiture of term clause: clause of the rental contract which provides that the lease ends automatically in the event of non-compliance with the obligations of the tenant
Forfeiture clause: clause of the rental contract which provides that the lease ends automatically in the event of non-compliance with the owner's obligations
Rent review clause: clause in the rental agreement which provides for the possibility of reviewing the amount of the rent according to changes in costs or market conditions
Early termination clause: clause of the rental contract which allows the tenant or the owner to terminate the lease before its expiry under certain conditions provided for in the contract
Penalty clause clause: clause of the rental contract which provides for a financial penalty in the event of non-compliance with the obligations of the tenant or the owner
Liability clause: clause of the rental contract which specifies the obligations and responsibilities of each party in the event of damage or claims occurring in the property
real estate
Non-subscription clause: clause of the rental contract which prohibits the tenant from taking out home insurance for the property
Rental clause: clause of the rental contract which provides for the possibility for the owner to rent the property to other people during the lease period.
Subrogation clause: clause of the rental contract which provides that the tenant becomes the new owner of the property in the event of the death of the initial owner
Termination clause for sale: clause of the rental contract which allows the owner to terminate the lease in the event of the sale of the property
Assignment clause: clause in the rental contract which allows the owner to assign his rights and obligations under the lease to a third party.
Waiver clause: clause of the rental contract which waives a right or an obligation provided for in the contract
Exclusion clause: clause of the rental contract which excludes a right or an obligation provided for by law
Derogation clause: clause of the rental contract which derogates from a right or an obligation provided for by law
Non-renewal clause: clause of the rental contract which provides that the lease will not be renewed at its expiry.
Rent determination clause: clause in the rental agreement that sets out how the amount of rent will be determined (for example, according to the rent benchmark)
Charges determination clause: clause of the rental contract which provides how the amount of the charges will be determined (for example, according to actual consumption)
Clause determining the work: clause of the rental contract which specifies who will be responsible for carrying out the upkeep and maintenance work on the property
Clause determining the terms of payment: clause of the rental agreement which provides for the terms of payment of the rent and charges (for example, in cash, by check, by bank transfer)
Clause determining the terms of termination: clause of the rental contract which provides for the terms of termination of the lease (for example, by respecting a notice period of 3 months)
Clause determining the terms of reimbursement of the deposit: clause of the rental agreement which provides how and under what conditions the deposit will be reimbursed to the tenant at the end of the lease period
Clause determining the terms of access to the property: clause of the rental agreement which provides how and under what conditions the owner or his representatives can access the property (for example, to carry out works or visits)
Clause determining the terms and conditions for handing over the keys: clause in the rental agreement which provides how and under what conditions the keys to the property will be handed over to the tenant and returned to the owner at the end of the lease period.
Clause determining the terms of change of tenant: clause of the rental agreement which provides how and under what conditions a new tenant can be accepted by the owner
Furnished rental agreement: rental agreement for furnished property
Empty rental agreement: rental agreement for an unfurnished property
Duration of the lease: period of time during which the lease is in force
Lease expiry: date on which the lease ends
Inventory: document that describes the state of the property (state of the walls, floor, equipment, etc.) at the signing of the lease and at the end of the rental period
Inventory of fixtures: inventory carried out at the signing of the lease
Exit inventory: inventory carried out at the end of the rental period
Guarantee: sum of money paid by the tenant as guarantee (deposit or surety)
Reference index of rents (IRL): official index which serves as a reference for the evolution of the rents of real estate
Rent: sum of money paid by the tenant to the owner in return for the use of the property
Monthly rent: rent paid by the tenant each month
Annual rent: rent paid by the tenant each year
Quarterly rent: rent paid by the tenant every three months
Semi-annual rent: rent paid by the tenant every six months
Single rent: rent paid by the tenant in one go at the signing of the lease
Increased rent: rent above the market average
Reduced rent: rent below the market average
Rent payment methods: how the rent is paid (cash, check, bank transfer)
Rent review modalities: how the rent is reviewed (e.g. based on the rent benchmark)
Proof of payment of rent: document which certifies that the rent has been paid (for example, rent receipt)
Rent receipt: document issued by the owner or the manager of the property which certifies that the rent has been paid by the tenant
Security deposit receipt: document issued by the owner or manager of the property which certifies that the security deposit has been paid by the tenant
