Hold-over tenant

A occupant keeping sanctions of the rental after the expiration of a lease

Implied cap rate

Overall functioning income divided by the sum of a REIT's equity industry capitalization and its overall outstanding debt

Highest and best use

The apparently probable and appropriate use of vacant land or a restored property that is actually likely, properly sustained, financially feasible and that results in the top value

Income capitalization value

The signal of market value acquired for an income-producing piece of real estate by reorganizing its forecasted benefits into property value through direct capitalization of likely income or by reducing the annual cash flows for the holding period at a defined yield rate

Improvements

In the situation of renting, the word traditionally refers to the improvements made to or inside a unit but may involve any permanent structure or other development, like a street, sidewalk, utilities, etc.