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Landlord
The lessor or owner of the leased property.
Last Room Availability
This is when agents can book the last room a hotel has at the contracted rate.
Lease
A contract that creates the relationship of landlord and tenant. A contractually binding agreement that grants a right to exclusive possession or use of property, usually in return for a periodic payment called rent.
Leverage
The use of borrowed funds to finance a portion of the cost of an investment.
Liquidation value
The likely price that a property would bring in a forced sale (foreclosure or tax sale). Used when a sale must occur with limited exposure time to the market or with restrictive conditions of sale.
Loan balance
The amount of money remaining to be paid on an amortizing loan at a given time.
Loan-to-value ratio (L/V)
The amount of money borrowed in relation to the total market value of a property. Expressed as the loan amount divided by the property value.
