Glossary of Regional Terminology

This article is designed to clarify the key terminology differences 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.