Reference
Property glossary
Plain-English definitions of 13 key property terms across the jurisdictions we serve. Sourced from primary references (HMRC, RICS, GOV.UK, Dubai Land Department) — links below every entry.
Tax + fiscal
Tax + fiscal
Council tax
GBCouncil tax is an annual UK local-authority charge paid by the occupier of a residential property. The amount is set by the local council based on the property's council-tax band (A–H in England/Scotland, A–I in Wales).
DLD service fee
AEThe Dubai Land Department (DLD) service fee is an annual charge administered by the DLD covering property registry, oversight, and master-community contributions. Distinct from the one-off 4% transfer fee paid on purchase.
Property tax
Property tax is an annual recurring tax on real-estate ownership. In the US it's the local county property tax (~0.5-2.5% of assessed value); in Singapore it's the IRAS Annual Value tax; in Japan it's the kotei-shisan-zei (固定資産税).
SDLT
GBSDLT is the tax paid to HMRC by buyers of UK residential property. It's tiered: bands at 0%, 5%, 10%, 12% (main rate); a 5% additional-property surcharge; and a 2% non-resident surcharge.
Sustainability + energy
Sustainability + energy
EPC rating
GBAn Energy Performance Certificate (EPC) rates a property's energy efficiency on a scale of A (most efficient) to G (least). Required by law for any UK property being sold or rented; valid for 10 years.
MEES
GBMEES is the UK regulation banning the letting of properties below a minimum EPC rating. The current floor is E; the rumoured 2025 tightening lifts it to C for new tenancies.
Tenure + ownership
Tenure + ownership
Ground rent
GBGround rent is the annual rent paid by a leaseholder to the freeholder for the use of the land under the property. Under the Leasehold Reform (Ground Rent) Act 2022, ground rent on most new long residential leases in England and Wales is now restricted to one peppercorn (effectively zero).
HOA fee
USHOA fees are recurring charges paid by US condominium / planned-community owners to the homeowners association that maintains shared amenities, insurance, and reserves. Equivalent to UK service charge.
Leasehold vs freehold
GBFreehold means you own the property AND the land in perpetuity. Leasehold means you own the property for a fixed term (typically 99–999 years) under a lease from the freeholder.
Service charge
A service charge is an annual fee paid by leasehold flat owners (UK) or condominium owners (UAE, US) to cover the upkeep of communal areas, building insurance, and contributions to a reserve fund for major works.
Process + transactions
Process + transactions
Off-plan property
Off-plan property is sold before construction is complete — sometimes before ground is broken. Buyers usually pay in instalments tied to construction milestones, with the developer holding their funds in escrow.
POA
POA means the asking price is not advertised publicly. Qualified buyers receive the price after they introduce themselves to the agent and meet vendor-defined criteria.