Resources · Glossary
The words on the rent roll, in plain English.
29 commercial real estate terms and 10 HqO terms, defined in a sentence or two. For the outsider joining a property team, and for anyone who wants the HqO vocabulary before a demo.
A
- Access control
- The systems and rules that decide who may enter a building or space, and when. Badges, mobile credentials, readers at doors and turnstiles, and the permissions behind them. Access Control
- ARGUS
- Industry-standard software (ARGUS Enterprise) for modeling a commercial property's cash flows and valuation. Its file format is a common way asset-level financial models are exchanged.
- ASC 842
- The US GAAP lease accounting standard, effective 2019. Lessees recognize most leases on the balance sheet as a right-of-use asset and a lease liability.
B
- Badge-in
- A recorded entry into a building using an access credential. Badge data is the most common proxy for how many people actually came in, and when.
- BOMA Building Owners and Managers Association
- The trade association whose floor-measurement standards (ANSI/BOMA) define how rentable and usable area are calculated and how common areas are allocated.
C
- CAM Common area maintenance
- Operating costs for shared areas such as lobbies, elevators, and landscaping that a landlord passes through to tenants. Estimated in advance, then reconciled against actuals each year.
- Connectors HqO
- Integrations that connect The Grid with the systems you already use, so the record stays current without re-keying. Connectors & APIs
D
- Digital Grid HqO
- HqO's data foundation: The Grid, History, and Connectors & APIs. An open specification, developed by HqO and published at digitalgrid.ai, that every HqO product reads and writes. Digital Grid
E
- ENERGY STAR
- The US EPA program that scores a building's energy performance from 1 to 100 against comparable buildings. A score of 75 or higher qualifies for certification.
G
- GRESB
- The global ESG benchmark for real estate portfolios and funds. Participants are assessed annually on management, performance, and development, and scored against peers.
- The Grid HqO
- A unified model of your buildings, spaces, companies, people, leases, and systems. The record every HqO product and every REX agent works from. Digital Grid
H
- History HqO
- The Grid's record of observations and events over time. Bitemporal and append-only: it keeps what was true and when it was known, and nothing is overwritten. Digital Grid
- HqOS HqO
- HqO's operating system: the applications teams use every day across Portfolio, Experience, Operations, Commerce, and Intelligence. The same name covers the operator's home on mobile and desktop, where REX's work is shown. All products
I
- IFC Industry Foundation Classes
- The open, vendor-neutral data model (ISO 16739) for describing a building and its components. The exchange format behind building information modeling (BIM).
- IFRS 16
- The international lease accounting standard, effective 2019, that brings nearly all leases onto the lessee's balance sheet. The IFRS counterpart to ASC 842.
- Industrial
- Warehouse, distribution, logistics, and manufacturing property. Valued on clear height, loading, power, and location relative to freight and population.
L
- LC Leasing commission
- The fee paid to brokers when a lease is signed, usually a percentage of the total rent over the term. Together with tenant improvements, the main cost of doing a deal.
- Lease abstract
- A short summary of a lease's business terms: parties, premises, term, rent schedule, options, and key obligations, pulled from the full document so nobody has to reread it.
- LEED Leadership in Energy and Environmental Design
- The US Green Building Council's rating system for sustainable buildings. Points across energy, water, materials, and site earn Certified, Silver, Gold, or Platinum.
- Leesman Index
- The workplace-experience benchmark built from Leesman's employee surveys: roughly one million office respondents across 6,410 organizations in more than 100 countries. Leesman is an HqO company. Leesman, an HqO company
- Life sciences
- Laboratory and research property: wet lab, dry lab, and manufacturing space with heavier mechanical, ventilation, and power requirements than office.
M
- MCP Model Context Protocol HqO Beta
- An open standard for connecting AI assistants to external tools and data. The route by which an assistant you already use could read from and act on the Digital Grid. Digital Grid
- Memory HqO
- REX's institutional knowledge: what happened, why, and what to do next. Scoped to your organization. REX
- Mixed-use
- A property or development that combines two or more uses, such as office, retail, residential, and hospitality, in one building or district.
N
- NCREIF National Council of Real Estate Investment Fiduciaries
- The association that publishes the NCREIF Property Index (NPI), the benchmark for institutional US property returns, and the reporting standards behind it.
- NOI Net operating income
- Property revenue minus operating expenses, before debt service, capital expenditures, and income taxes. The number a building's value is capitalized from.
R
- Renewal option
- A lease clause giving the tenant the right to extend the term, at a fixed or market rent, by notifying the landlord within a set window before expiry.
- Rent roll
- The schedule of every tenant in a property or portfolio: suite, square footage, rent, and lease start and end dates. The first document a buyer or lender asks for.
- Resource booking
- Reserving shared spaces and assets such as conference rooms, desks, event space, and equipment, with rules for who can book what, and when. Resource Booking
- REX HqO
- HqO's AI operator. REX answers questions, writes reports, and does routine work across HqOS, and waits for approval before anything moves. REX
- REX agents HqO
- The family of agents that make up REX, each named for the job it does: routing a repair, approving a booking, drafting an announcement, abstracting a lease. See all agents
S
- SLA Service-level agreement
- The committed response and resolution times for a service, such as a work order. Breaching one is what a property team is usually measured on.
- Sublease
- A lease between an existing tenant and a third party for some or all of the tenant's space. The original tenant stays bound to the landlord under the head lease.
T
- Tenant rep Tenant representative
- A broker who represents the tenant in a lease negotiation, as opposed to the landlord's listing broker.
- TI Tenant improvements
- The build-out of a tenant's space. Often funded in part by a landlord allowance (the TI allowance) negotiated into the lease.
V
- Visitor management
- Registering, screening, and admitting guests to a building: invitations, check-in, badges, and notifying the host. Visitor Management
W
- WALT Weighted average lease term
- The average remaining lease term across a portfolio, weighted by rent or area. A measure of how long the income is contracted for, and of rollover risk.
- Work order
- A ticket for maintenance or service, from the report through dispatch to completion. Also called a service request when raised by a tenant. Service Requests
No terms match.
Bring the rent roll. We'll bring REX.
Thirty minutes with the team, on your own buildings. No pitch deck.