Resident
If a building or property adjoins a public road, the owner is called a resident.
Reference document
A reference document (or basic document) includes all site and building plans and descriptions. It will not be read out by the notary after agreement or consent of the buyer and the seller, but in the contract of sale it is only referred to, so that it becomes part of the contract even without reading out.
Return on equity
An indicator that describes the ratio between net income and the equity within a specific given period (typically a year).
Return on borrowed capital
The return on borrowed capital refers to the interest on borrowed capital and is a ratio expressed in %.
Real estate transfer tax
Tax that is applied upon real estate transactions. The real estate transfer tax in Berlin amounts to 6.0% of the notarial certified purchase price. The buyer needs to pay the real estate transfer tax to the tax office of the district where the property was bought shortly afterwards.
Real estate
"The German word ""Immobilie"" for real estate comes from Latin and means ""immovable"". The term is used to describe immovable tradable object, such as land or a property."
Real estate portfolio
The sum of holding owned by a single person, company or a fund. Typically a portfolio include several properties with diversified risk-models.
Repair
Repair is the sum of all measures that serve to repair damage to the property.
Rent
Rent can be the description of the contractual relationship that is concluded between the tenant and the landlord in order to regulate the occupation and use of a space for a monetary sum. Rent is also called the amount of money to be paid. The rent consists of the basic rent and the operating costs, also called cold and warm rent or net and gross rent.
Rent increase
In order to adjust the existing rent to a general rent increase, the landlord is granted by law (MHG) the right to increase the rent. It must be claimed in writing, justified and the rent amount must have remained unchanged for one year before. Different regulations apply to permitted rent increases, depending on the location of the rental property.
Rent deposit
The rent deposit is a security deposit in the form of a cash payment or a rent guarantee from the tenant to or on behalf of the landlord. It is deposited to cover possible damages caused by the tenant.
Rental price calculation
When calculating the rental price, the square meters are to be valued differently. According to the living space ordinance, only areas with a room height of more than 2.00m are 100% of the living space. Areas with a room height between 1.00m and 2.00m are considered to 50%, areas with a height of less than 1.00m are not counted at all. Balconies, terraces and garden areas are considered to 50%.
Rent brake
"The ""rent brake"" is a legal regulation that regulates rent increases. In areas with a tight housing market, the federal states stipulate that rent increases for new rentals of existing housing are only possible to a limited extent."
Renovation
Renovation measures are measures for the repair of structures or buildings. In tenancy law, renovation is usually a synonym for cosmetic repairs, which include wallpapering or painting, which in Germany is usually the responsibility of the tenant.
Reservation
Reservation is understood to be the allocation for the use of a certain object, in real estate purchase it is understood to be the holding of the highest ranking position in the marketing process of a real estate sale for a certain period of time or in the strictest sense, the exclusion of other prospective buyers from the sales process.
Reservation agreement
In the reservation agreement, the reservation is recorded in writing with a signature.
Refurbishment
Fundamental renewal measures, which can even lead to the gutting of a building.
Refurbishment announcement
§ 555 a Abs. 2 BGB states that the landlord has to announce maintenance and refurbishment measures in time with the exception of urgency. Usually, timely means three months in advance.
Redevelopment area
For the implementation of urban redevelopment measures, a municipality can adopt a redevelopment statute by resolution. Thus, according to § 142 Abs. 1 BauGB a certain concretely defined area is defined as a redevelopment area. Redevelopment measures have the goal of significantly improving or remedying urban development deficiencies.
Right of first refusal
The right of first refusal is generally understood to be the right to be the first recipient of an offer to sell. In tenancy law, a right of first refusal for the tenant can be regulated in the tenancy agreement.
Revocation
A revocation is a legally relevant declaration that refers to a previously issued declaration and cancels it out, declaring it to be invalid or false.
Revocation instruction
A revocation instruction is an instruction about the revocation right of a consumer (§ 13 BGB) with certain consumer contracts. It contains a right of revocation, which lasts 14 days and whose period begins with an effective revocation instruction.
Residential property
A residential property is used entirely or at least predominantly for residential purposes.
Right of residence
Who has right of residence is entitled to use certain rooms of a real estate under exclusion of the owner. The right of residence is a kind of easement, which is registered in the land register based on the principles of property law.
