Glossary of Regional Terminology

  • Updated

This article is designed to clarify the key terminology differences within Re-Leased software across various regions of the world.

Sometimes, what you call a "Lease" in North America may be known as "Tenancies" elsewhere. Similar nuances in real estate and accounting terminology may arise based on your location. This article aims to outline these regional differences, promoting a more seamless and intuitive experience when you navigate our platform. For any further questions regarding regional terms, our Customer Support team is readily available to assist you.

Highlights of Regional Terminology Differences

North America vs. Other Regions

  • Leases vs. Tenancies: In the context of Re-Leased, what is commonly termed 'Leases' in North America corresponds to 'Tenancies' in other regions.

UK vs. Other Regions

  • Client Accounting vs. Trust Accounting: The management of funds held on behalf of clients is known as 'Client Accounting' in the UK, but is referred to as 'Trust Accounting' elsewhere.
  • Service Charge Budgets vs. Outgoing Budgets: The financial planning for charges levied to tenants for services related to the property is known as 'Service Charge Budgets' in the UK, while it is referred to as 'Outgoing Budgets' in other regions.

Should you encounter unfamiliar terms or have any questions about the correct terminology for your region, our support team is eager to provide clarity.

 

Europe, Middle East & Africa
(EMEA)

Asia-Pacific
(APAC)

North America
(NoAM)

Properties

Client Accounting

Trust Accounting

N/A

Current Rating Valuation

Current Valuations

Current Property Values

Property Charges

Outgoings

Operating Expenses

Direct On-Charges

Direct On-Charges

Cost Recovery

Service Charge Budgets

Outgoing Budgets

CAM Budgets

Tenancies/Leases

Tenancies

Tenancies

Leases

Arrears Status

Arrears Status

Delinquency Status

Terms & Breaks

Terms & Breaks

Terms & Options

Vacate Current Term

Vacate Current Term

End Current Term

Lease Break

Lease Break

Lease Option

Break Clause Conditions

Break Clause Conditions

Option Clause Conditions

Rent & Service Charge

Rent & Outgoings

Rent & Outgoings

Bank Guarantees

Security Deposits

Security Deposit

Deposits

Bonds

N/A

Tenancy History

Tenancy History

Lease History

VAT

GST

Tax

General Terms

Expiry Date

Expiry Date

Expires or Expired

DD/MM/YYYY

DD/MM/YYYY

MM/DD/YYYY

Tenancy Schedule

Tenancy Schedule

Rent Roll

(In Maintenance Tasks) Description of Works

Description of Works

Description of Issue

Work Order

Work Order

Purchase Order

Financial

Credit Note

Credit Note

Credit Memo

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