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Gaap
Generally Accepted Accounting Principles.

Gas Compliance Certificate
A Certificate of Conformity issued by an authorised person as defined in the Pressure Equipment Regulations 2009 made by the Minister of Labour under section 43 of the Occupational Health and Safety Act 85 of 1993, to the effect that the gas installation on the property conforms to the required health and safety standard. The cost of the certificate and any repairs that need to be made are for the sellers account and is required by law for the property to be transferred to the buyer’s name.

Gearing
Also called leverage. The degree to which an investor or business is utilising borrowed money to acquire income producing assets. Negative gearing refers to a situation in which the income generated by an asset does not cover the interest on the loan. Positive gearing means the asset produces sufficient income to cover the loan to acquire the asset.

General Lien
A lien such as tax lien or judgement lien which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to specific property.

Geometric Mean
A measure of central tendency calculated by multiplying the series of numbers and taking the nth root of the product, where n is the number of items in the series. The geometric mean is defined only for sets of positive numbers. For example, the geometric mean of 6 and 7 is the square root of (6*7). The geometric mean of 6, 7 and 8 is the cube root of (6*7*8); and so forth.
Related Topic: Arithmetic Mean, Median.

Geometric Mean Return
It is also called the time-weighted rate of return or the average compounded rate of return. It is calculated by taking the geometric mean of a portfolio’s sub-period returns. Where there is a great variance in sub-period returns, this is a better return measure than the arithmetic mean return. Unlike the internal rate of return, it is not influenced by the timing and weights of money-flows.

Grant
The transfer or cession of an interest in a property, in part or entirely. A grant may be a lesser interest such as an easement, where only a certain right of use is granted.

Grantee
The person to whom rights are granted in a Power of Attorney.

Grantor
The person granting rights in a Power of Attorney.

Green Buildings
Energy-efficient and environmentally-friendly buildings.

Gross Income
Total income before taxes or expenses are deducted.

Gross Leasable Area (GLA)
The total usable, rental space in a building.

Gross Lease
A lease whereby the tenant pays a single monthly rental and the landlord remains responsible for the payment of all costs associated with the ownership of the property.
Related Topic: Basic Rental, Escalation Rate, Huur Gaat Voor Koop, Lease, Lease with Option to Purchase, Leasehold, Long Lease, Natural Vacancy Rate, Net Lease, Notarial Deed of Lease, Occupation, Percentage Lease, Renewal Option, Rental Types, Rent-Free Period, Resolutive Condition, Right of Pre-Emption, Sale & Leaseback, Triple Net Lease, Turnover Rental.

Gross Rental
The total rental payable by the tenant, excluding VAT, the tenant’s own electricity and water charges, but including other operating costs recovered by the landlord as well as promotion expenses payable by the tenant in the case of shopping centres.

Guarantee
In a property transaction, it is a formal letter issued by the financial institution undertaking that the loan amount will be paid to the transferring attorneys, for payment to the seller, on registration of transfer of the property into the name of the buyer.

 
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