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Real Estate Vocabulary
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negotiate
to try to reach an agreement by formal discussion
seller
someone who ones something and trades it in exchange for money
real estate
property in the form of buildings and land
property management
the process of overseeing a rental property for someone who owns it
party
a person, group or other entity in an agreement or transaction
owner
someone who possesses something or has the legal right to it
landlord
a person or company from whom you rent a room, a house, an office, etc.
tenant
a person who pays rent for the use of a room, building, land, etc. to the person who owns it
lease
a legal agreement that allows you to use a building, a piece of equipment or some land for a period of time, usually in return for rent
rent
an amount of money that you regularly pay so that you can use a house, room, etc.
responsibility
a duty to deal with or take care of somebody/something, so that you may be blamed if something goes wrong
purchase
to buy something
represent
to act on behalf of someone or in his or her interest
property
a thing or things that are owned by somebody; a possession or possessions
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