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Ease of Ingress/Egress - Ingress - entrance; egress - exit; capacity of Ingress/Egress relates to the capacity and convenience of the entrance(s) and exit(s) of a property.

Effective Gross Income - Term used for an income-producing property, derived from the potential gross income, less a vacancy factor and a collection loss amount.

Engineering Fee - A quoted or estimate fee to cover the cost of the engineering report or property inspection required by the lender to obtain a mortgage.

Est. Market Rent - The amount for which the competitive rental market indicates property should rent. Also referred to as "economic rent." Generally, contract lease rates are "marked to market" if contract rent is greater than or less than market rent.

Est. Market Vacancy - The overall percentage of all units or space that is unoccupied or not rented in a market or sub-market. On a proforma income statement a projected vacancy rate is used to estimate the vacancy allowance, which is deducted from potential gross income to derive effective gross income.

Excess Interest/Spread - Interest received from repayments that is greater than the interest on the certificates. It is defined as the difference between the interest paid on the mortgage loans (net of servicing fees) and the interest accrued on the certificates.

Expense Growth Rate - A guideline that suggests the expense growth rate for the proposed loan. An expense growth rate is used to calculate (or "gross up") projected operating expenses when for the purpose of underwriting the income and expense cash flows; this number reflects the percentage by which the cost of each expense item are projected to increase over the following year.

Expense Matrix - see MBA Coding Matrix in Table of Contents

Expense Reimbursements - Income received from the tenant as a reimbursement of expenses paid by the landlord. In a lease, an expense reimbursement clause stipulates that some or all of the operating expenses paid by the landlord are recoverable (reimbursable) from the tenant; also called expense recoveries, reimbursable, billables or pass-throughs. Recoverable expenses are deducted as expenses and (offsetting) recoveries are treated as separate revenue items in income and expense statements.

Extended Stay Primary Guest Types - Identifies that the hotel rooms are predominately occupied by long-term guests (usually one week or greater).

Extraordinary Capital Exp. - Actual major capital expenditures that were not anticipated; these expenses are typically non-recurring expenses and are generally normalized to zero.

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