16 terms starting with L
Landlord insurance is cover for a rental property owner, protecting against tenant related loss such as damage, theft and lost rent, plus legal liability.
Read definitionA lease is a contract giving the lessee the right to use an asset owned by the lessor for a set term in return for payments.
Read definitionLease payments are regular amounts a lessee pays a lessor for the use of an asset over a set term, bundling a finance charge with fees and sometimes services.
Read definitionA lease purchase is a lease over a vehicle or equipment with a contractual option to buy it at the end for a pre-agreed residual value.
Read definitionA lease rate factor is the monthly rental a lessor charges per dollar of equipment cost, used to price a lease without quoting an annual rate.
Read definitionA lease term is the agreed period a lease runs, from the commencement date to expiry, which sets when rent or rentals are payable and when the lease can end.
Read definitionLease vs buy is the choice between paying to use an asset for a set term and owning it outright or with finance.
Read definitionA lessee is the party that takes the right to use an asset, such as premises, a vehicle or equipment, from the lessor under a lease.
Read definitionA lessor is the party that grants a lease of property, goods or equipment to a lessee, keeping legal title while the lessee has possession and use.
Read definitionA liability is a legal responsibility to pay money or answer for a loss; in accounting, a present obligation to transfer an economic resource, shown on the balance sheet.
Read definitionA lien is a legal right a creditor holds over another person's property, such as goods or land, as security until a debt is paid.
Read definitionA line of credit is a revolving credit facility with an approved limit that you can draw, repay and redraw, paying interest only on the drawn balance.
Read definitionLiquidation is the process of winding up a company: a liquidator takes control, sells its assets, pays creditors in a set order of priority and the company is deregistered.
Read definitionAn LMCT (licensed motor car trader) is a dealer licensed under Victoria's Motor Car Traders Act to buy, sell or exchange vehicles as a business, giving buyers statutory protections.
Read definitionA loan is money advanced by a lender to a borrower, repaid as principal plus interest over an agreed term under a contract.
Read definitionA loan-to-value ratio (LVR) is the amount you borrow as a percentage of the value of the security, usually property, and a key measure of lending risk.
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