homeowner star_border
/ˈhoʊmˌoʊ.nɚ/ play_circle_filledHomeowner = a person who owns their house or apartment
- Millions of homeowners have remortgaged their homes to take advantage of lower interest deals.
- To become a homeowner, the first step is to get the initial approval for the mortgage from the bank before you start looking for homes. Getting approved upfront can tell you exactly how much loan you'll qualify for so you don't waste time shopping for homes outside of your budget.
- The easiest option for most homeowners is to pay for their mortgage through their online bank accounts. Online payments are fast and efficient, and paying online means you can decide when you want to make the payment, maintain a record of when it was made, and ensure that it is paid by the due date.
mortgage star_border
/ˈmɔːr.ɡɪdʒ/ play_circle_filledMortgage = an agreement that allows you to borrow money from a bank to buy a house
Take out a loan or mortgage
- He will have to take out a mortgage in order to buy the house.
- My dad had to take out a bank loan to start his own business.
- I really don't think it's a good idea to take out a loan to buy a luxury car. You know what they say: a new car loses 20 percent of its value the moment you drive it off the lot. New cars lose value fast.
To make a mortgage payment
- I couldn't make my mortgage repayments so the lender repossessed my house.
- Once you get a mortgage, you will need to start paying mortgage payments each month to pay back your loan until it is fully paid off.
- They hope to pay off the mortgage soon.
To borrow/take out a loan against something = To put something up as collateral
- The firm's taking out a loan against its assets.
- She used/put up her house as collateral for a loan.
property star_border
/ˈprɑː.pɚ.t̬i/ play_circle_filledProperty is a noun and has three meanings.
1. Property = an object that belongs to someone or some organization (Uncountable noun)
- The library is public property.
- There are a limited number of paid lockers available inside the ski rental shop to store personal belongings. There are also a select number of cubbies located outdoors at the resort, available on a first-come, first-serve basis. We will not be responsible for the loss of personal property.
2. Property = area of lands or buildings that belong to someone or some organization (Countable noun)
- Are you aware that you are trespassing on private property?
- The property had an appraised value of about $1 million in 2021.
- She owns several valuable properties in the bay area.
- My advice to first-time homebuyers is this—do your research on the property and the area before you put in your offer. Check your commute, what other properties have recently sold for, broadband coverage, how much tax you'll pay, etc.
- If you've been on the lookout for a new house, you've probably noticed that a 'south-facing' house or garden is often listed as a feature. The main advantage of a south-facing property is the amount of sunlight you'll enjoy. As the sun rises in the east and sets in the west, the south side of any house will see the most hours of sunlight during the day—especially in the Northern Hemisphere.
3. Property = a quality in a substance or material (Countable noun)
- Garlic has antibacterial properties.
- Famed for its medicinal properties, garlic is also a culinary staple in most kitchens.
- It is true that marijuana has medicinal properties. For many seriously ill people, medical marijuana is the only medicine that relieves pain and suffering or treats symptoms of their medical condition.
realtor star_border
/ˈriː.əl.tɔːr/ play_circle_filledRealtor = real estate agent = a person whose job is to arrange the sale, renting or management of homes, land and buildings for the owners
- Let's call the Realtor and tell her we're going to make an offer.
- A Realtor can help you find the right home, schedule the showing or open house, negotiate the price, and handle all the paperwork and details.
- A real estate agent is a professional who assists in buying and selling properties and has obtained a real estate license to do so.
- Listing agents work with sellers to list a home, while buyer's agents help aspiring homeowners search for properties. On the other hand, Rental agents work with potential tenants to find rental units within a given area.
rent star_border
/rent/ play_circle_filledIf you rent something, you regularly pay its owner a sum of money in order to be able to have it and use it yourself. Rent can also be an uncountable noun, meaning the amount of money that you pay regularly to use a house, flat, or piece of land.
- How much do you pay in rent?
- My rent is $1350 a month inclusive of bills.
- The building has full laundry facilities with coin-operated washers and dryers in the basement. We ask all our tenants to provide an equivalent of two months' rent when they first move in. Any more questions?
M: We've always dreamed of owning a home and I know we have to get on the property ladder sooner or later, but the down payment is such a huge expense. W: It really is, but we're also throwing our money away by renting. |
- They flew out to Boston and rented a car at the airport.
- From my personal experience, if you're in a position to stay at home and save towards your down payment, rather than renting, you're likely to get on the property ladder a lot quicker than if you move out, pay rent and try to save at the same time.
- Summer is everyone's favorite season. Getting out on the water in a party boat can amplify the entire experience, and the good news is you don't have to own one to enjoy one. Though it may sound daunting at first, renting a boat is not so different from renting a car. You'll need to fill out some paperwork, prove that you're of legal age to be renting, and consider whether you want to purchase insurance coverage.
Rent out something
- I rented out the extra room over the garage to a college student.
- If you are one of the many people who have an unused basement space, then you may want to consider turning it into a rental unit. Not only will the space be put to good use, but it could also provide massive payoffs. Before deciding to rent out your basement space, be sure to look into any legal issues within your state that may affect your ability to rent the space.
rental star_border
/ˈren.t̬əl/ play_circle_filledThe rental is the process of renting something. The rental is also the amount of money that you pay when you rent something such as a car, property, or piece of equipment. The rental can also refer to something such as a house, car, or bike that you rent:
- The car rental is $270 a week. It includes unlimited mileage, but not fuel. You also need a valid driving licence.
We're the pet-friendly vacation option Can't bear the thought of leaving your pet at home? Neither can we. That's why Casa homes proudly allows guests to bring their dogs along. Surveys estimate that over half of pet owners travel with their dogs—and with our more than 3,000 dog-friendly vacation rentals, so can you. |
- The boat rental was exorbitant.
- Lovely new car! Is that yours or is it a rental?
- Have you ever noticed that all rental cars have little barcode stickers on the windshield, the rear window, or at least one side window? The bar codes are placed in the windows so the rental car companies can scan the car when it goes in and out of the lot to keep track of it.
- In the summer of 2020, rental car companies across America sold their inventory due to the dramatic decline in travel. But now as the country returns to the patterns of pre-pandemic life, rental car companies no longer have the necessary supply of cars to meet consumer demand.
- Your rental agreement will usually say how much rent you have to pay and when you have to pay it. If you don't have a written agreement, the amount of rent you have to pay will be what you agreed with your landlord. Note that your landlord might be able to evict you if you don't pay your rent on time.
- He had so many legal expenses that he had to sell the rental properties.
vacant star_border
/ˈveɪ.kənt/ play_circle_filledVacant = not filled or occupied; available to be used (Adjective)
- We don't have any more vacant rooms
- There are no vacant apartments in the building.
- The hospital has no vacant beds.
A vacant job is one that no one is doing and is therefore available for someone new to do
- The position became vacant when James resigned.
- The position will become vacant next year.
amenity star_border
/ameni-ty/ [ah0.m.eh1.n.ah0.t.iy0] /əˈmen.ə.t̬i/ play_circle_filled- This property is just 5 minutes' walk from all of the local amenities, restaurants, and shops.
- Hotel amenities include a complimentary full breakfast, sauna, steam room, free parking, a business center, and meeting space accommodating up to 80 people.
Each room at the Hotel Delfini has been redecorated to best preserve the past while offering every modern amenity including a smart TV with complimentary movie library, safe box, minibar, room service, laundry service, en-suite bathroom, and free Wi-Fi Internet access. |
Do what you want, when you want—self-catering is freedom! At the base of Blackcomb Peak and Whistler Mountain, this self-catering apartment hotel is a 3-minute walk from the Whistler Village Gondola and a 8-minute walk from Whistler Golf Course. Our Whistler vacation rentals offer a fully equipped kitchen, two private bedrooms, a minimum of two bathrooms and each rental property comes with unique bedding and amenities. |
foreclosure star_border
/fɔːrˈkloʊ.ʒɚ/ play_circle_filledIf the person or organization that lent someone money forecloses, they take possession of a property that was bought with the borrowed money, for example because regular repayments have not been made.
- A home equity loan is a type of second mortgage that allows you to borrow against your home's value, using your home as collateral. Suppose your home is valued at $400,000, and your mortgage balance is $300,000. That's $100,000 you can potentially borrow against. However, using your home to guarantee a loan comes with some risks. What it means is that if you are unable to make the monthly repayments for a sustained period of time, there is a risk that the lender could foreclose on your house.
- Ms. Specter has missed several months of mortgage payments and now her mortgage company has threatened to foreclose on her home.
Foreclose as a noun
- A foreclosure occurs when you fall too far behind on your mortgage payments and the banks repossess your home.
- Most people buy homes by taking out mortgages. Mortgages are secured loans. With a secured loan, the borrower promises collateral to the lender in the event that they stop making payments. In the case of a mortgage, the collateral is the home. If you stop making payments on your mortgage, your lender can take possession of your home, in a process known as foreclosure.
- The neighbors to the south of us moved out and their place is now in foreclosure. I wonder what happened.
- Many homes in this neighborhood went into foreclosure and haven't sold.
foreclosed houses/properties
- I just bought a house at a foreclosure auction.
- Since banks are often eager to unload these foreclosed properties, you'll find them often sell for less than asking price—about 15% below the home's actual value.
- Buying a foreclosed home can be a good way to score a deal while hunting for real estate. However, it's not without risk. Many foreclosed houses have been poorly maintained and may have structural issues or mold damage.
furnished star_border
/ˈfɝː.nɪʃt/ play_circle_filledFurnished is an adjective describing a place that has furniture and is available to be rented. The difference between a furnished apartment and an unfurnished apartment is that a furnished apartment comes with furniture.
- The downside of renting a furnished apartment is that you will have no control over most of your décor. The look of the apartment is mostly determined by your landlord. With that being said, a furnished apartment does save you a lot of money upfront if you don't have furniture already.
- Their house is expensively/luxuriously furnished.
★★★★★ 5 Stars I really enjoyed my recent stay at the Hotel Fantastic Plaza. My room was comfortable and well furnished, and the hotel staff provided outstanding service as well. I only wish there had been a shuttle service. I had a difficult time getting a taxi to the airport, and it was expensive. Aside from that minor inconvenience, I enjoyed my stay very much. |
lease star_border
/liːs/ play_circle_filledA lease is a legal agreement by which the owner of a building, a piece of land, or something such as a car allows someone else to use it for a period of time in return for money. If you lease property or something such as a car from someone or if they lease it to you, they allow you to use it in return for regular payments of money. Common collocations are "take out a lease", "the lease will run out/expire", "sign a lease", and "renew a lease".
- The current lease still has 15 years to run.
- The lease will run for 15 years.
- The lease expires in November.
- The lease runs out in November.
- Before signing a lease, be sure to fully review what utilities are included and what are not.
- We signed a two-year lease when we moved into the apartment.
- The company decided not to renew the lease on the office.
- I took out a year's lease on an apartment on the Upper East Side.
- If there's language in the lease agreement you do not understand, it might be time to get professional assistance. There are numerous agents and legal counsel that specialize in representing tenants.
A private seller is looking for a credit-qualified buyer to take over this 2021 MINI Cooper Convertible lease before the lease runs out. There are 29 months left on the lease contract. The lease payment is $1,325 per month and the vehicle is located in La Quinta, California. |
W: I just got a call from unit B at the Carolina Apartments. The tenants would like to move out at the end of July, but their lease doesn't expire until 31 October. M: Well, the contract says that tenants who leave before the lease expires must pay a penalty. But sometimes the owners of the property will waive the fee if they think they can get new tenants right away. What about calling the owner and seeing if they'll make an exception? W: I think I can give it a try. I am going to let the owner know that we have many people who are waiting to rent the place. |
Lease as a verb
- We have leased this house for the last five years.
- I'm interested in leasing a blue convertible on your website.
- All of our computers and copy machines are leased from another company.
- The building was leased to a gym.
- We leased the house to a young married couple.
At LeaseTrader, we believe that life is for living and cars are for loving. Our mission is to unite drivers with the cars they really want to drive. So, if you'd love to drive a convertible, leasing your car is a simple way to make it happen. Remember, when you lease a car, you don't have to worry about resale value. When your lease period ends, you just return the car, hand over the keys, and walk away. |
At LeaseTrader, we believe that life is for living and cars are for loving. Our mission is to unite drivers with the cars they really want to drive. So, if you'd love to drive a convertible, leasing your car is a simple way to make it happen. Remember, when you lease a car, you don't have to worry about resale value. When your lease period ends, you just return the car, hand over the keys, and walk away. |
presale star_border
/ˈpriːseɪl/ play_circle_filledThe presale means the practice of arranging the sale of a product before it is available. A presale can also refer to a presale home/property, a home/property that is available for purchase before it's move‑in ready.
- Presale properties can take up to four years to be built, giving buyers a larger time frame to fix up and sell their existing residence, save money for a down payment, and have a slow and comfortable move.
- Presales are popular with investors and other buyers because it allows these buyers to have the benefit of increasing prices without having to pay a mortgage, property taxes, maintenance fees, or deal with troublesome tenants.
- When purchasing a presale, the first step is to put a deposit down on the property. Typically, there is a small initial deposit due at the time of putting down an offer.
- Hundreds of prospective buyers have inquired about the presale condominiums in New Westminster.
- The store does a presale for everyone who has a Nordstrom credit card.
- Today is your last chance to catch the cheapest presale tickets for The Munich Christmas Market 2022. From 1 Dec 2022 the ticket price will be more expensive.
- The publisher announced the release date of Mr. Martin's new book would be pushed forward to June 14 after it reached number 1 on Amazon for presales.
- Presales of the book have skyrocketed.
remortgage star_border
/ˌriːˈmɔːr.ɡɪdʒ/ play_circle_filledTo remortgage is to change the conditions of a mortgage (= agreement by which you borrow money to buy property), usually by increasing the amount you borrow:
- I'd like to remortgage at a lower rate.
- The truth is the economic environment that allowed consumers to borrow cheaply, remortgage quickly, and run up large debts has changed.
- Chase decided to remortgage his house to pay off his debts.
- Remortgaging your house is a big risk if you're retired.
- Millions of homeowners have remortgaged their homes to take advantage of lower interest deals.
residential property star_border
/ˌrez.əˈden.ʃəl//ˈprɑː.pɚ.t̬i/ play_circle_filledResidential properties include single-family homes, townhouses, and apartments
- I used to live in downtown Vancouver, but now I live in a quiet residential area in Victoria.
- The agency deals with residential and commercial property.
- The Taiwan government has spent years trying to cool a red-hot residential property market, but prices remain high in the most desirable markets, putting homeownership out of reach for many Taiwanese.
Whether you are interested in selling, buying, investing in, or renting a home, the residential real estate experts at Assured Properties are dedicated to helping you achieve your personal and financial objectives. We source and arrange the purchase and management of multi-unit residential apartment buildings so you can invest with peace of mind. You get a stable stream of income on your investment with a potential upside on cash out. |
tenancy star_border
/ˈten.ən.si/ play_circle_filledTenancy is the period of time for which you have the right to use a building or piece of land:
- A tenancy agreement outlines what the landlord and tenant have agreed to. Both parties must sign the tenancy agreement and the landlord must give the tenant a copy before the tenancy begins. This is a legally binding contract, so it's critical that it's completed accurately and carefully.
- A landlord and tenant agree on the amount of rent and when it's due at the start of a tenancy. The tenancy agreement must be clear about what's included in the rent.
- Normally, the lease requires the tenant to give the landlord a 30-day notice to end the tenancy. In other words, if you are a tenant and want to move out after the lease term ends, you must give the landlord the notice 30 days prior to the termination of the lease term.
- After a three-year tenancy, we were ready to move out.
Words List
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TOEIC 800
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homeowner
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mortgage
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property
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realtor
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rent
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rental
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vacant
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TOEIC 900
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amenity
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foreclosure
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furnished
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lease
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presale
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remortgage
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residential property
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tenancy
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