Listing Price : The rental price requested by the property owner for the rental area. The price can change as a result of negotiations.

Landlord Representation : The mediator, who represents the interests of the property owner in a typical renting operation, is referred to as the property owner representative.

Landlord : The company, legal entity or person, who has the ownership of a specific real estate.

Lease : A contractual agreement whereby the owner of real property (the lessor) grants to another person (the lessee) the right to the possession and use of the property for a specific amount of time in return for a stipulated rent.

Lease assignment : An agreement between the commercial property owner and the lender that assigns lease payments from tenants directly to the lender. Otherwise, lease payments are made would be the owner who would then forward mortgage payments to the lender.

Letter of Intent : A document expressing an intent to invest, develop or purchase without creating any firm legal obligation to do so. Letters of intent are frequently used to negotiate the business points of a transaction before preparing a formal binding contract.

LIBOR London Interbank Offered Rate  : The rate that international banks dealing in Eurodollars charge each other for large loans. Some domestic banks use this rate as an index for adjustable rate mortgages.

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