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Who owns property?

Only a legal person – natural person or legal entity with legal capacity – may own real estate, including individuals, companies and other entities granted a legal personality by l…


Who manages property development?

Property development is an interdisciplinary field and requires various skills and expertise.  Typically, developers purchase a parcel of land, determine the marketing of the prope…


Who invests in commercial real estate?

An individual investor is an individual who invests relatively small amounts of money for his or her own account, as opposed to an institutional investor.  Most individuals invest…


Who do real estate brokers represent?

A broker can be engaged by either party to a real estate transaction as instructed by that party, to whom the broker has a fiduciary duty.  When acting as a seller’s agent, brokers…


Who are development stakeholders?

A project stakeholder is any individual or group that can affect, be affected by or believe to be affected by a project during its life cycle and/or its output and can influence it…


What professionals are engaged in commercial real estate?

The property development process requires skills of many different professionals, including architects, engineers and site planners, market consultants, attorneys, environmental co…


What pre-construction actions are taken by developers?

After satisfactory performance of due diligence and needs and use analysis, the following occur: Acquisition of a plot of land for a property development project is subject to sati…


What occurs in the property post-completion phase?

Depending on the property development strategy, the final stage of the development process is either operation, including the renovation, rehabilitation and reconstruction and re-l…


What is the subdivision of land?

Subdivision is the act of dividing all or part of a parcel of raw land into individual sections (lots) by a land developer and converting the land into developed property, which ma…


What is the property construction phase?

The construction phase in property development is the period that begins when decisions for the actual construction are made at a pre-construction meeting and end when construction…


What is the project life cycle?

Property development is the development of real estate.  The property development life cycle starts with launch of a development project and ends with project exit and usually the…


What is the loan value of real estate?

The maximum amount a lender is prepared to advance as a percentage of the value of the eligible collateral is loan-to-value (LTV).  LTV is expressed as the ratio of the loan amount…


What is the commercial real estate life cycle?

There are three major constituencies in the real estate process: Space producers – Those who develop properties (e.g., developers) or who provide the capital for the property devel…


What is the business case for hotels?

The first step in the property development process is opportunity definition.  This is when alternative projects are explored, identified and selected. For any project, a business…


What is subleasing?

A sublease is an arrangement between a rental property’s principal tenant and a subtenant, where the lease agreement between the landlord and the principal tenant remains in force…


What is residential real estate?

Residential real estate is real property that is used or available exclusively for occupation and the daily living of individuals and families and for non-commercial purposes, incl…


What is residential commercial real estate?

A multi-dwelling unit (MDU) (multifamily residential building; multifamily residential structure; multifamily residential unit; multi-family house) is a structure consisting of mul…


What is real estate?

Real estate is land, the natural resources situated on land, the structures (building) and other improvements that come from human effort that are permanently affixed to the land a…


What is real estate mortgage securitization?

After their origination in the primary market, mortgages serve as collateral for mortgage backed securities – mortgage-backed securities (MBS) and collateralized debt obligations (…


What is real estate leasing?

Real estate leasing is a contractual arrangement between the owner of real estate (landlord) and the real estate’s occupant (tenant) that allows the tenant to occupy and use the pr…


What is property management?

Property management is the process by which the property owner and/or a third-party service provider maintains and creates value in the property consistent with the owner’s objecti…


What is property development?

Hotel property development is the real estate development process that brings an idea or concept for a hotel with the associated hospitality services to successful realization thro…


What is land-use zoning?

Zoning is the control of the use of land and the buildings on that land by government authority, where land is divided into mapped zones within which the use, form and design of pr…


What is land-use planning?

Land-use planning is a branch of urban planning used by local governments to manage the development of land within their jurisdictions with the objective to order and efficiently r…


What is facility management?

Facilities management (FM) is the integration of processes to develop, provide and maintain the facility services by supporting and improving the effectiveness of the core business…


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