| Vocabulary |
Definition |
Example |
| Real estate |
Refers to a property in the form of a land or a building |
We’re going to buy a piece of real estate. |
| Public Utility |
An organization that supplies the public with water, gas, or electricity |
The new plan of the government is to support more public utilities. |
| To move out |
To stop living in a particular place |
Her landlord has given her a week to move out. |
| To move in |
To go to a different place and begin to live there |
Owing to huge rent, student prefer prefer not to move in to a city but rather stay in the outskirts |
| A hall /corridor |
Refers to the room just inside the main entrance of a house, apartment, or other building that leads to other rooms and usually to the stairs |
I left my bags in the hall. |
| An acquisition |
The process of acquiring or getting and owning something for example a property, an apartment, a house etc. |
The cost of acquisition is far too high in Paris owing to it being the capital of France. |
| To own |
Refers to possessing something like for example a property, apartment etc. |
He owns a big apartment in the heart of the city with an amazing view of the Eiffel. |
| The owner |
Refers to a person who owns an appartment or property. |
Are you the owner of this flat ? |
| To rent /to let |
To rent refers to moving in to an apartment for a certain sum or money that is to be paid regularly to its owner while to let refers to giving an apartment to someone for a certain period at a fixed price. |
I have decided to let out my apartment to a student for a year . |
| A renter |
Refers to someone who pays a sum or money to live in a house or apartment that is owned by someone else. |
The apartment can only lodge students as renters. |
| A rental agreement |
A written agreement that underlines the terms and conditions concerning the use and occupancy of a place and its premises. |
The rental agreement included the servicing of the asset if there were any problems experienced during the first 30 days. |
| A 30-day notice |
Refers to the minimum time period to be given to the landlord in advance before moving out from the apartment. |
His landlord didn’t return him the deposit paid because he failed to provide a 30 day notice before quitting. |
| A deposit |
Refers to a certain sum paid at the beginning before moving in to an apartment. |
As the deposit was too high, I decided not to move in over there and instead chose another place. |
| An elevator (US) /a lift (GB) |
Refers to a machine that carries people from one floor of another of a building. |
The office was on the tenth floor, so Helen took the elevator. |
| The premises / facilities |
Refers to the land and buildings owned by someone or by a company or organization |
The company is relocating to its new premises. |
