Rental Property

Importance: 0.71

Is a company: no

Is a proper noun: no

Synonyms

  • rental house
  • income property
  • non-owner occupied property

Acronyms

  • RP

Definition of Rental Property

  1. A property purchased to be rented out to one or more occupants who are not owners. Also known as an "income property" or "non-owner occupied property."

Related Terms and Acronyms

  • Tenant Bank,
    • One who rents property.
  • Investment Property Bank,
    • Property bought with the hope of it making money.
  • Rental Agreement (RA) Bank, Important,
    • A document that states the terms and conditions for tenancy of a dwelling.
  • Rent Bank,
    • When one party pays another for the use of an asset, service or property.
  • Income Property Bank,
    • Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
  • Lease (lse) Bank,
    • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
  • Landlord Bank,
    • One who rents or leases his or her property to another person or a business.
  • Condominium Conversion Definition,
    • When an existing building such as a rental project changes to the condominium form of ownership.
  • Non-owner Occupant Bank,
    • A borrower who purchases a property for investment or rental purposes and will not occupy the property.
  • Lessor Definition,
    • The person who grants a lease.
  • Second Home Mortgage Definition, Important,
    • A mortgage used purchase property, often a vacation or a rental property.
  • Second Home Definition,
    • An additionally purchased property, often a vacation or a rental property.
  • Sublet Definition,
    • An arrangement where a tenant leases property to a subtenant.
  • Kingston Rental Property Owners Association (KRPOA)Company, Kingston, Ontario, Canada,
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