The Lexicon of Real Estate

ALS
Allocation de Logement à Caractère Social : Allocation intended for people with limited resources and responding to pre-defined resource conditions. The ALS is financed by theFond National d'Aide au Logement (FNAL), which is funded by the State and an employer contribution. It is paid to beneficiaries through the Caisses d'Allocations Familiales (CAF).
APL
Aide Personnalisée au Logement : It is an aid to the person defined by the law of 3 January 1977. It is granted in respect of the principal residence and intended for the tenants, first-time homeowners, owners, occupants of new or old housing but Improved and benefited from assisted or contracted loans or other social loans or home loans. The determination of his / her amount depends on several resource conditions and his / her family situation. Beneficiaries receive this assistance directly from the Caisse d'Allocation Familiale (CAF) or the Caisse Centrale de Mutualite Sociale Agricole.
CAF
Caisse d'Allocations Familiales : Public body responsible for paying the family aid. In the field of real estate, CAF pays various housing subsidies such as the APL, ALS, ALF, etc.
Common area
Parts of buildings for the use of all the inhabitants of the building (staircase, courtyard, etc.).
Flatsharing
Shared accommodation
Force majeure
An unpredictable and insurmountable event that prevents a person from performing his obligations normally. A person undergoing force majeure may be exempted from his obligations if this is so.
Furnished rental
It concerns rented dwellings with the supply of furniture sufficient for everyday everyday life. Income from this type of rental is subject to personal income tax. Please note that the furnished rental is not regulated.
Guarantee
This is what ensures the execution and the respect of the terms of the contract. There are several guarantees: the biennial guarantee, the guarantee of completion, the guarantee of good functioning, the guarantee against the unpaid rent, the guarantee of delivery, the decennial guarantee, the guarantee of perfect completion, the surface guarantee.
Guarantor
An undertaking by a third party to guarantee the payment of a mortgage in the event of default by the borrower, or payment of the rent in lieu of the legal tenant.
Housing
Rental contract for residential or mixed use premises (business and residential). Most of the residential leases for a principal residence that meet current standards of comfort and habitability are governed by the laws of December 23, 1986 and July 6, 1989. They commit the lessor at least three years, the tenant being able to terminate At any time, with a 3-month notice period.
Input
Procedure which consists in immobilizing immovable (or movable) property which becomes non-transferable and unseizable. The seizure is preceded by a command to pay issued by bailiff.
Insurance
Convention whereby, for a premium, the insurers undertake to compensate for any damage.
Lease
Document defining contractual relations between landlord and tenant. Some are subject to special regulations, others are subject to the free will of the parties under the provisions of the Civil Code. They are also called "leases".
Lessor
Person who gives a real estate to rent.
List merchant
Intermediary that sells lists of properties for sale or rent. Since 1995, this occupation has been regulated. Today, list merchants must obtain the agreement of the owner of the property before placing the latter on the list sold to interested persons.
Local taxes
Taxes levied by the local authorities (communes, departments, regions) charged to the tenant.
Mandate
Delegation of a power from one person to another in order to accomplish something (rental, sale ...) in the name of the principal.
Nullity
Cancellation of a legal act for failure to comply with one of the substantive or procedural conditions necessary for its successful implementation.
Prior notice
Acte unilatéral préalable à la rupture d'un contrat de location.
Private Sector
Part of the buildings for the use of only one of the inhabitants.
Property income
These are income from real estate leases.
Property tax
Also known as property tax, property tax is payable by all building owners.
Real estate agency
Term designating a business (often a business) whose function is to offer its services and means for the negotiation and advice of real estate: sale and lease, advice on purchase, appraisal of property ...
Receipt
Evidence sent to the tenant by the landlord for the payment of the rent and its charges.
Recoverable charges
It is the total costs incurred by the lessor that he can be reimbursed by his tenant. Recoverable charges are separate from the main rent. In the case of residential leases, the recoverable charges are exhaustively enumerated by the Decree of 26 August 1987. They relate to expenditure relating to the routine maintenance of the property, the equipment mentioned in the contract, as well as minor repairs and certain taxes.
Reduction of taxes
Amount deducted from the amount of income tax and not from taxable income.
Rent
Monthly or quarterly amount paid to the lessor by the tenant in consideration of the right to occupy the accommodation.
Rental agreement
Cf. Lease
Rental investment
It is a real estate purchase intended to be leased to obtain rental income.
Rental value
It indicates the annual financial contribution paid for the occupation of a property.
Renting
Local, land, housing ... made available to an occupant against the payment of a rent. The landlord or "landlord" and the lessee of the property are bound by a lease or "rental agreement", the latter not necessarily being in writing. However, the establishment of a written lease between the landlord and the tenant is highly recommended. In France, the most common form of rental for housing is bare rental, that is, leasing without the provision of furniture.
Security Deposit
Sum of money entrusted as security for performance of the contract. In the case of a lease, it is handed over to the lessor by the tenant when he enters the premises and is returned to him at the end of the rental, provided that he has paid his rents and charges and properly maintained the property. In the case of a preliminary contract of sale (promise or compromise), the security deposit is used to ensure the signature of the final contract in all its conformity (see also capital allowance).
Seasonal rental
Furnished rental agreed during a vacation period. The seasonal rental contract is freely negotiated for its duration and the amount of its rent, but must first be the subject of a description of the places, their situation in the locality and the conditions of hiring.
Share
This is the share allocated to each co-owner for the distribution of condominium expenses.
Social housing
Social housing : Social housing built with the financial support of the State by social organizations, in the form of collective buildings or even individual houses.
State of play
Document establishing the condition of an immovable or a dwelling at the entrance and exit of the tenant's premises. The inventory of fixtures is compulsory for empty dwellings. Established in front of a bailiff or in a contradictory manner (between tenant and lessor), it is intended to demonstrate the degradations committed by the tenant.
Subletting
Lease contract established by a tenant with the consent of the owner to allow the use of the property he leases to a third party.
Tax authorities
All departments responsible for establishing and collecting taxes.
Taxable income
Total annual net income that will be used as the basis for the tax calculation.
Termination
Breakdown of the rental contract when the tenant fails to fulfill his obligations: failure to pay rent, charges, security deposit, insurance of rented premises.
Usufruct
The right to use real estate (to live in or rent it) whose bare ownership (the walls) belongs to another owner.
Waiver
An act by which one renounces a thing, a right.