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Following is a list of common
property rental terms, advertising abbreviations and their usage. Advertising abbreviations are used in the
main to reduce the size of an advertisement, thereby reducing its cost.
Given our considerable experience in the area
of Property Promotion, it is our belief that such abbreviations should be used
with discretion. An overly abbreviated
advertisement may be perceived to portray a “cheaper” and less glamorous
Property. It is also difficult to convey
emotional appeal in just a few words. A
balanced approach to using descriptive words with accepted abbreviations is
most likely to produce the most desirable outcome.
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Acceptance
Agreement with the terms and conditions of an offer or contract.
Adjustments
Apportionment of paid or unpaid rates and other charges between the
vendor and purchaser at settlement. See also Statement of Adjustments below.
Agent
A Company or person who is authorised to act on behalf of the client in
the sale, purchase, letting or management of real property.
Body
Corporate
The owners of the units/apartments within a building form a Body
Corporate. These owners select a Committee which is responsible for the
maintenance and insurance of the building (which includes all common areas).
Bond
Upon signing a Tenancy Agreement a bond needs to be paid by the Tenant
to the Residential Tenancies Division (usually equivalent to 4 weeks rent). A bond is held as security against damage or
default by the tenant.
Capital
Gain
The monetary gain that you obtain when an asset is sold for a higher
price than originally paid for it.
Common
Property
An area of land and/or building which is owned by the Body Corporate (ie
driveways/stairways and open areas).
Condition
Report
A statement prepared at the beginning of a tenancy describing the condition of
the premises.
Easement
An easement is a right that allows one person's land to dominate another
person's land by exercising some right over the dominated or subservient land
such as a drainage easement or a right of way.
Encumbrances
A claim that one person has against another person's land. If the land changes
hands, the new owner may acquire both the land AND
encumbrances attached to it
Fittings
Any item which is not permanently attached to a building or land.
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Fixtures
Items affixed to structures or land, usually in such a manner that they cannot
be easily moved without damage to themselves or the property.
Form 3 Body
Corporate Certificate
A statement provided by a body corporate to any person who requires it. It
contains specified information about the body corporate, including financial
information.
Landlord
The owner of a property who leases that property to another person (or
legal entity).
Land Tax
An annual tax paid to the State Government, on commercial and investment
properties calculated according to the site value of the property.
Lease
A document which grants a person/s tenancy of a property for a specific
period and subject to particular terms and conditions.
Lessee
A person (or legal entity) who leases a property.
Lessor
The owner of a property who leases that property to another person (or legal
entity).
Strata Title
A system of ownership of space within a block of apartments or units
which you can be leased or sold. Membership of the Body Corporate is automatic.
The Body Corporate owns and insures the Common Property.
Tenant
A person (or legal entity) who leases a property.
Yield
The income derived from a property. The yield is usually expressed as a
percentage of the value or cost of the investment.
Zoning
The use permitted by Local Council.
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Advertising Abbreviations
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a c
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Air Conditioning
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a g
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Above Ground (pool)
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attract
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Attractive
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avail
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Available
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b i
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Built In
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b i c
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Built In Cupboard
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b i r
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Built In Robe
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br
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Bedroom
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cpbd
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Cupboard
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cpt
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Carpet
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d w
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Dishwasher
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dble
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Double
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dble gge
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Double Garage
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det
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Detached
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din rm
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Dining Room
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dlug
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Double Lock up Garage
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elec
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Electric
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encl
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Enclosed
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ens
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Ensuite
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exc
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Excellent
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f furn
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Fully Furnished
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fitts
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Fittings
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flr covs
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Floor coverings
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gge
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Garage
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gdn
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Garden
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hol blds
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Holland Blinds
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htg
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Heating
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hws
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Hot Water Service
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i g
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In Ground (pool)
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insul
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Insulation
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kit
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Kitchen
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l scape
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Landscape(d)
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l fitt
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Light Fitting
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lge
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Large
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liv
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Living
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l u
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Lock Up
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l u g
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Lock Up Garage
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mais
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Maisonette
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mod
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Modern
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mstr
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Master (bedroom)
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o f p
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Open Fireplace
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o n o
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Or Nearest Offer
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o s p
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Off street Park
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orig
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Original
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p a
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Per Annum
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p m
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Per Month
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p w
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Per Week
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pol flr
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Polished Floorboards
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pkg
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Parking
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prop
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Property
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qual
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Quality
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r c
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Reverse Cycle (air conditioning)
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rm
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Room
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s c
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Self-contained
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s l u g
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Single Lock Up Garage
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s t c a
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Subject to Council Approval
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s out
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Sleep Out
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s b
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Solid Brick
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sec
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Secure
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semi
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Semi-detached
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sep
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Separate
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shwr
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Shower
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shwr rec
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Shower recess
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spac
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Spacious
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stry
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Storey
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t out
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Throughout
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t f
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Timber Frame
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tmbr
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Timber
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u c
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Under Cover
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u m r
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Under Main Roof
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ustrs
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Up Stairs
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v p
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Vacant Possession
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vdah
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Verandah
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ver
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Verandah
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ven blds
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Venetian Blinds
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w b
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Weatherboard
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w c
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Water closet (Toilet)
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w i pantry
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Walk In Pantry
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w o
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Wall Oven
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w w
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Wall to Wall
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w i r
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Walk In Robe
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y o
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Years Old
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Useful Hints & FAQs 
