Glossary

Vacancy factor

The amount of gross revenue that pro forma income statements anticipate will be lost because of vacancies, often expressed as a percentage of the total rentable square footage available in a building or project.

Vacancy rate

The total amount of available space compared to the total inventory of space and expressed as a percentage.

Vacant space

Existing tenant space currently being marketed for lease excluding space available for sublease.

Value-added

A phrase generally used by advisers and managers to describe investments in underperforming and/or undermanaged assets. The objective is to generate 13 percent to 18 percent returns.

Variable-rate

A loan interest rate that varies over the term of the loan, usually tied to a predetermined index. Also called adjustable-rate.

Variance

Permission that allows a property owner to depart from the literal requirements of a zoning ordinance that, because of special circumstances, cause a unique hardship.

Vertical Search

A search service which is focused on a particular field, a particular type of information, or a particular information format.

Viral Markeing

Self propagating marketing techniques. Common modes of transmission are email, blogging, and word of mouth marketing channels.

Many social news sites and social bookmarking sites also lead to secondary citations.

Virtual storefront

An online business presence for sales.