Continued from…

# Real Estate Glossary S [Part 6]

## 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.

We specialise in Development funding | Commercial finance | Construction loans | Portfolio refinancing & Property investment loans in Australia.

## 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.

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.

You are missing out if you haven’t yet subscribed to our YouTube channel.

## 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.

Continued at…
Real Estate Glossary S [Part 8]