Real Estate Glossary S [Part 7]

CONTINUED-FROM

Continued from…

:point_right: Real Estate Glossary S [Part 6]

Stair carriage or stringer

Stair tread supporting member

Stair landing

A platform located between flights of stairs or at the bottom of a flight of stairs.

Stair rise

The distance up and down between steps.

Standard deviation

The standard deviation is a statistical measure of the dispersion or variation of data points or values around the mean. In a data set, 95.4% of the values will fall within two standard deviations (plus or minus) of the mean, making the standard deviation a very helpful statistic.

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Standard industrial classification (SIC)

A set of universally agreed-upon codes used by governments and businesses for recording and accounting purposes, classifying economic and employment activity by sector.
Standard practices of the trade

A word used to describe the most basic and bare-bones requirements for building construction.

Standing Mortgage

A standing mortgage is one where only the interest is paid and the principal doesn’t go down over time.

Starter strip

At the eaves, asphalt roofing is put to provide protection by filling in the areas under the cuts and joints of the first course of shingles.

Static vent

A vent that does not have a fan.

Statistical descriptions

Reasonably inferring something about a larger statistical population based on a smaller sample of that population (and stating how likely it is that the statement is true) (in probabilistic terms).

Statistical population

The sum of all parts; the group of people or things considered in a survey or study. Simply put, the members of a given group make up a population, which is a complete set of all possible individuals in that group.

STC (Sound Transmission Class)

The amount of sound that can be stopped by ordinary noise.

Steel inspection

Before the concrete foundation wall is poured into the foundation panels, it is inspected.

Step flashing

A method for applying flashing where a vertical surface meets a roof with a sloped plane.

Step-up lease

A lease in which the rent paid by the lessee increases at regular intervals by a predetermined rate or dollar amount. A step lease is a means for the lessor to hedge against inflation and future maintenance or operational expenses.

Stile

A straight piece of framing in a panel door.

Stool

The flat moulding went over the window sill between the jambs and touched the lower sash’s bottom rail.

Stop box

A cast-iron pipe with a lid that shuts off the water to a property in case of an emergency.
Stop order

A formal, written notice to a contractor that some or all of the work on a project has to stop. This could be because of safety violations, bad materials or work, or because the contract has ended.

Stop valve

A device put in a water supply pipe, generally near a fixture, that allows an individual to turn off the water supply to one fixture while keeping the rest of the system operational.

Stops

Moldings are added to the inside of a door or window frame. Also, the valves that turn off the water supply to a fixture.

Storm sash (storm window)

A second window that helps keep out cold weather even more.

Storm sewer

A network of pipes that is made to collect rainwater and keep it separate from the waste water system.

Story

The space between any two floors or between the floor and the roof of a building.

Street-based mapping

Easily navigated GIS programmes that can be used to plot points of interest like stores and other commercial establishments based on their street address.

Strike

The plate on the door frame that engages a latch or dead bolt.

String, stringer

A piece of wood or another material that holds up cross beams in floors or ceilings. The part of a stair that holds up the treads.

Strip flooring

Wooden flooring made up of narrow, matching pieces.

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Structural floor

A wood-framed floor that was put in as a basement floor.

Stub, stubbed

To persevere, or to push one’s self.

Stucco

A finish on the outside of a building that is made with Portland cement.

Stud framing

A construction technique that distributes structural loads to a number of comparatively lightweight studs.

Stud shoe

A vertical stud is reinforced with a metal structural bracket.

Subfloor

The sill plate, floor joists, and deck sheeting are the parts of a floor’s frame. A finish floor will be put on top of these.

Subject to financing

A provision in a cooperative housing contract that states that the agreement is contingent on the buyer securing financing from a financial institution in an agreed-upon amount.

Sublet

When the owner of an apartment or the person who has the main lease decides to rent the apartment to a subtenant, this is called a sublet.

Subprime Mortgage

A form of mortgage that is typically granted to customers with poor credit.

Sunk costs

No longer recoupable investment expenses.

Super jumbo loan

A loan in excess of $1,000,000.

Superregional center

An expanded version of a regional mall, a superregional centre offers a wider variety of goods and services and attracts customers from a wider geographic area. Similar to regional malls, enclosed malls with multiple floors are the norm for superregional malls.

Supply factors

Factors or forces that affect the availability of a commodity or service in a market.

Supporting industries

Sectors of the economy providing inputs to production processes or supporting the distribution and sale of intermediate or final goods.

Suspended ceiling

A ceiling system that is held up by the structural framing above it.
Suspended losses

If you have a passive loss that you can’t use this year, you can put it on hold and use it next year or when you sell.

Sway brace

Angled supports are put up to keep a wall from falling over.

Switch

A piece of electrical equipment that connects or breaks a circuit.

Synthetic lease

Changing a lease obligation from a capital lease (a long-term lease on the company’s balance sheet) to an operating lease (a short-term lease on the company’s balance sheet) is a form of lease reclassification, which is part of a larger leasing and financing strategy.

Systems analysis

A set of procedures for examining a system’s parts and how they work.