Investment Glossary:

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G

Graduated lease: A lease in which the rent is fixed for the initial term and increases at certain set intervals by predetermined amounts or by amounts based on periodic appraisals.

Gable Roof:  A roof with a triangle; with the ridge forming an angle at the top and each eave forming an angle at the bottom.

Gain:  An increase in money or property value.

Garden Apartments:  A housing complex whereby some or all tenants have access to a lawn area.

General Contractor:  One who constructs a building or other improvement for the owner or developer.

General Lien:  A lien that includes all of the property owned by the debtor, rather than a specific property.

General Warranty Deed:  A deed in which the grantor agrees to protect the grantee against any other claim to title of the property.

Gentrification:  The displacement of lower income residents by higher income residents in a neighborhood.

Graduated-Payment Mortgage (GPM):  A mortgage that requires a borrower to make larger monthly payments over the term of the loan. The payment is unusually low for the first few years but gradually rises until year three or five, then remains fixed.

Grantee:  The party to whom title to real property is conveyed.

Grantor:  The party who gives the deed.

Gross Debt Service:  The amount of money needed to pay principal, interest and taxes, and sometimes energy costs. If the dwelling unit is a condominium, all or a portion of common fees are excluded, depending on what expenses are covered.

Gross Monthly Income:  Income before deductions for taxes, social security, saving plans, court ordered child support, etc.

Gross Rent Multiplier (GRM):  A tool used to assess the approximate value of a rental property by comparing its rental income with other like properties. It gives the relationship between the gross rental income and sales price.  Also referred to as gross income multiplier. 

Gross Rent Guillotine Clause:  A clause in a mortgage that enables a lender to call a loan if specified goals are not met. 

Ground Lease:  One that rents the land only.

Gross Income Multiplier:  A tool used to assess the approximate value of a rental property by comparing its rental income with other like properties. It gives the relationship between the gross rental income and sales price.