Early Termination

If the tenant needs to leave the premises earlier than allowed for in the tenancy agreement. This can be done in one of two ways:
1. Through negotiation and mutual agreement to surrender by compensation.
2. Through introduction of replacement tenant to take up a new lease with terms and condition agreeable to the landlord.

Effective Rental

Average rental achieved for the lease period after deduction of rent free period.

Equity

The interest or value an owner has in real estate over and above the mortgage against it.

Escalation clause

A clause in a contract providing for increases or decreases in rent payments in accordance with fluctuations of certain costs or expenses of the landlord.

Escrow

A written agreement between two or more parties providing that certain instruments or property be placed with a third party to be delivered to a designated person upon the fulfillment or performance of some act or condition.

Estate Agents Authority (EAA)

The body set up to regulate the Estate Agency industry in accordance with the Estate Agents Ordinance. The body acts as an educator and regulator.

Executive suite / Business Centre

Executive suites are shared offices with services provided by a management firm.

Expiry

The date that the tenancy ends.