Data assets
Data assets can be regarded as one version of business “gold”. (And, for such assets to be usable, they have to be uniquely identified) For example, your list of customers…
Archives: CRE Dictionary
Archives: CRE Dictionary
Hierarchy
The best concept to explain hierarchy: “parent-child”. This parent-child model explains both the levels, and the one-to-many relationship. As in a family, you have one great grandmother, with many grandmothers…
Geographical hierarchy
Geographical hierarchy explains how places or properties fit together into a simple-to-understand and ordered structure. Geographical hierarchy is a common concept we use every day. The application of it is…
LPI code
Each land parcel (for example erf) in South Africa is uniquely identified by a unique LPI code. All data assets should have unique, “real world” identifiers. This is property’s version…
GLA
GLA in CRE is an abbreviation for gross lettable area, or gross leasable area. Also known as “rentable area” (or RBA), it is normally expressed as square meters or square…
Horse trading
Horse trading is an unethical practice in CRE. It describes the instance of agents disclosing confidential information that provides one side with an unfair advantage. Agents are required to act with…
API
API is the abbreviation for an application programming interface. In simple terms it is an “electronic handshake” between two systems. This electronic handshake defines a “common language” for the systems…
Erf
An erf (plural erven) is a term used in CRE to describe a piece of land owned by someone (i.e. registered in a deeds registry / office). Alternate terms The words used…
Parking ratio
A property’s parking ratio indicates how “well-parked” a property is. Properties with a high parking ratio mean that there are more parking bays per leased area. In the USA, the…
CRE
CRE is the abbreviation for commercial real estate. Another word for commercial real estate is commercial property. While members of the same family, commercial real estate (or commercial property) is…