Property Definitions

A comprehensive glossary of real estate terms and concepts. Clear, expert explanations to help you understand the language of property.

B

Body Corporate / Owners Corporation

The collective owner body in an Australian strata or community title scheme that manages common property, levies, by-laws and insurance.

C

Cooling Off Period (AU States)

A short post-contract window in many Australian states when residential property buyers may rescind a private treaty contract subject to local rules.

E

Ejari

Dubai's mandatory electronic system for registering all residential and commercial tenancy contracts, administered by RERA.

F

FIRB (Foreign Investment Rules AU)

Australia’s foreign investment screening framework affecting foreign buyers of residential property, with ATO administration and registration obligations.

Freehold Property

A type of property ownership where the buyer owns both the building and the land it stands on indefinitely.

L

Leasehold Property

A form of property tenure where the buyer owns the property for a fixed period but not the land.

N

Negative Gearing

An Australian tax position where a borrowing-funded investment’s deductible costs exceed its income, typically for residential rental property.

O

Off-Plan Property

Property purchased before construction is completed, typically at a discounted price.

P

Property Manager

A licensed Australian real estate professional who manages a rental property’s leasing, rent, repairs, inspections and tenancy compliance.

R

ROI (Return on Investment)

A percentage measuring total property investment profitability, combining rental income and capital appreciation relative to cost.