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Garantie de mise en place du 1er locataire (Carence locative)

English translation: guaranteed tenancy (first tenant guarantee)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:Garantie de mise en place du 1er locataire (Carence locative)
English translation:guaranteed tenancy (first tenant guarantee)
Entered by: Rebecca Elliott
Options:
- Contribute to this entry
- Include in personal glossary

13:01 Apr 7, 2008
French to English translations [PRO]
Law/Patents - Real Estate
French term or phrase: Garantie de mise en place du 1er locataire (Carence locative)
This is from a list of guarantees relating to a management mandate - an agreement between the agent and the owner of the property.

"Carence locative" has been asked before but, while the explanation makes good sense, no translation was offered.

Thank you
Rebecca Elliott
United Kingdom
Local time: 19:54
guaranteed tenancy (first tenant guarantee)
Explanation:
One possibility that would take the explanations at http://www.proz.com/kudoz/2023076 into consideration (especially the difference between vacance and carence).

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Note added at 20 mins (2008-04-07 13:22:14 GMT)
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or just "guaranteed tenancy (first tenant)"
Selected response from:

Expialidocious
France
Local time: 20:54
Grading comment
Thank you both.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1guaranteed tenancy (first tenant guarantee)
Expialidocious
3Guaranteed first tenant (rental vacancy guarantee)
Eutychus


Discussion entries: 2





  

Answers


12 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Guaranteed first tenant (rental vacancy guarantee)


Explanation:
It means that the agency offers a guarantee to potential investment buyers that they will find an initial tenant for the property, or, in other words, guarantee them against the risk of no tenant being found - for a fee.

Someone may have a better term than me, I made this up but at least one other person has thought of it (see link)!

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Note added at 13 mins (2008-04-07 13:15:05 GMT)
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in other words, the insurance policy provides for payment equal to the nominal amount of rent to the investor for a set period for them to pay off any loan they have taken out to buy the property.


    Reference: http://www.somersoft.com/forums/search.php?s=589506c6863c976...
Eutychus
Local time: 20:54
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 41
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16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
guaranteed tenancy (first tenant guarantee)


Explanation:
One possibility that would take the explanations at http://www.proz.com/kudoz/2023076 into consideration (especially the difference between vacance and carence).

--------------------------------------------------
Note added at 20 mins (2008-04-07 13:22:14 GMT)
--------------------------------------------------

or just "guaranteed tenancy (first tenant)"

Expialidocious
France
Local time: 20:54
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Thank you both.

Peer comments on this answer (and responses from the answerer)
agree  Eutychus: that's much neater than my suggestion, and a useful distinction
25 mins
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