Commercial and Business Real Estate in Victoria

tenure
A common-law term referring to a way in which the piece of property is held, such as the fee simple or leasehold.

income property
Property which is not occupied by a owner but is used to generate income.

amortization
The process of paying a principal and interest on the loan through regularly scheduled installments. Initially, most of each payment is applied toward interest owed, and later in a loan term increasingly applied toward principal.

National Association of Realtors (NAR)
A trade organization for real estate agents and brokers who become members by agreeing to abide by a organization's code of ethics. Members may call themselves Realtors.