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Acronyms & Glossary List

Discussion in 'Information Resources & Tools' started by devank, 27th Jun, 2015.

  1. devank

    devank Look, lets just get on with this, ok? Premium Member

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    This list is originally created by Jas. I have added few more from @D.T., @geoffw, @Rixter, LynnH, hobo & myself.
    It was useful when I was new to the game.

    Organisations/People
    APRA: Australian Prudential Regulation Authority - Prudential regulator of banks, insurance companies and superannuation funds, credit unions, building societies and friendly societies.
    ASIC: Australian Securities and Investment Commission
    ATO: Australian Tax Office
    BA: Buyers Agent
    DFT: Department of Fair Trading
    DHA: Defence Housing Authority
    DoH: Department of Housing
    DoP: Department of Planning
    FIRB: Federal Investment Review Board
    OSR: Office of State Revenue
    PM: Property Manager
    QS: Quantity Surveyor
    RBA: Reserve Bank of Australia
    REA: Real Estate Agent
    REINSW: Real Estate Institute of New South Wales
    REISA: Real Estate Institute of South Australia
    REIT: Real Estate Institute of Tasmania
    REIV: Real Estate Institute of Victoria
    REIWA: Real Estate Institute of Western Australia

    Renovating/Building
    Reno/Rehab: Renovation
    STCA: Subject To Council Approval


    Investing
    B&H: Buy & Hold (you buy a property and don't sell it, thus ‘hold' it)
    DD: Due diligence
    DYODD: Do Your Own Due Diligence
    EOFY: End of Financial year
    FHOG: First Home Owner's Grant (A monetary grant available to First Home Owners)
    Flip: (where you find a property at well below market value and either pass it on to an investor for a finder's fee or higher price)
    FMV: Fair Market Value (what the market thinks the property is worth)
    IP: Investment Property
    LO: Lease Option (You offer someone the option of buying a property. They place a deposit and then rent from you. At or before the option term, they can choose to buy at the preset price. If they choose not to buy, you keep the deposit)
    LOE: Living On Equity
    NRAS: National Rental Affordability Scheme
    OPM: Other People's Money (this could be the banks, a partner's, or anyone's. A way for you to get ahead faster)
    OPT: Other People's Time (this could be the banks, a partner's, or anyone's. A way for you to get ahead faster)
    OTP: Off The Plan (You buy a place before it has been built. You settle once the property is fully constructed)
    PPR/PPOR: Principal Place of Residence (Tax term for when you own, not rent, the place you live in)
    SANF: Sleep At Night Factor (Conscience and risk profile)
    UCV: Unimproved Capital Value (The value of the property before you increase the CG)
    Wrap: Wraparound Mortgage (You own a place and sell it on a hire/purchase scheme)
    SMSF: Self Managed Super Fund

    Computer/Internet
    BTW: By The Way
    DH: Dear/Darling Husband
    DW: Dear/Darling Wife
    FAQ: Frequently Asked Questions
    FWIW: For What It's Worth
    FYI: For Your Information
    IMHO: In My Humble Opinion
    LMAO: Laugh My A*** Off
    LOL: Laugh Out Loud
    PIA: Property Invest Analysis Software from Somersoft
    PIF: Property Investment Forum
    ROFL: Rolling On Floor Laughing
    ROFLMAO: Rolling On Floor Laughing My **** Off
    TLA: Three Letter Acronym


    Forum Specific
    OP: Original poster
    PC: Property Chat (here)
    SS
    : Somersoft

    Finance
    CF: Cashflow (The income stream from a property, ie cashflow +ve is cash in your hand. Cashflow -ve is a negatively geared property)
    CG: Capital Growth/ Captial Gain (This is the increase/decrease in price. Like cashflow, this can be negative or postitve)
    CGT: Capital Gains Tax (The tax you pay when selling a property)
    DSR: Debt To Service Ratio (How much your loans are over your income)
    Equity: (The amount money the property is worth, minus any outstanding loans)
    GST: Goods and Services Tax (Australians pay 10% tax on just about everything. You can't claim it back for property expenses, but you can for other things)
    IO or I/O: Interest Only (On a loan, you only pay the interest portion every month. At the end of the loan term, you still owe the full amount)
    IRR: Internal Rate of Return (A method of calculating how much money you'll make on a deal)
    LMI: Lenders Mortgage Insurance (Something the bank takes out on your loan to insure itself. At high LVRs, you pay the premium. Happily, you only have to pay once)
    LOC: Line Of Credit (A loan that looks like a credit card. Secured against a property, you have a limit, and only pay interest on the current outstanding balance)
    LVR: Loan To Value Ratio (The size of the loan over the value of the property. $50,000 loan secured against $100,000 property equals a LVR of 50%
    NPV: Net Present Value (How much the property is worth now)
    P&I: Principle & Interest (On a loan, each month you pay both an interest and repay some of loan. At the end of the loan term, you owe 0)
    PA or p.a.: per Annum (Each Year)
    ROI: Return On Investment (A method of calculating how much money you'll make on a deal)
    xcoll/xcollat/xcolled: cross-collateralise, cross-collateralisation, cross-collateralised etc (A situation in which the bank uses multiple properties as security for one loan)
    EOFY: End of Financial year
    DD: Due diligence

    Locations
    ACT: Australian Capital Territory
    ADL: Adelaide
    BNE: Brisbane
    CBR: Canberra
    MEL: Melbourne
    NSW: New South Wales
    NT: Northern Territory
    NZ: New Zealand
    PQQ: Port Macquarie
    QLD: Queensland
    SA: South Australia
    SYD: Sydney
    TAS: Tasmania
    VIC: Victoria
    WA: Western Australia
     
    Last edited: 27th Jun, 2015
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  2. Coota9

    Coota9 Well-Known Member Premium Member

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    Fantastic list Devank...
    Maybe roll this info into a welcome sub section on Propertychat with other key elements also for new members..
    @Sim
     
  3. keithj

    keithj Moderator Staff Member

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    Location:
    Blue Mtns
    RBA
    and APRA :eek:
     
  4. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Thanks. Added to the list.
     
  5. Be Developer

    Be Developer Property Developer Business Member

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  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    OP = Original poster
    DD = Due diligence

    DW = Dear/Darling Wife
    DH = Dear/Darling Husband
    EOFY = End of Financial year
    SMSF = Self Managed Super Fund
     
    Last edited: 27th Jun, 2015
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  7. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Added them to the list. Thanks for writing out the meaning.... made my life a little easier.
     
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  8. Toon

    Toon Well-Known Member

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    Sorry for a dumb question, but does anyone know what STCC stands for? I'm seeing quite a few ads with 'Sold STCC' on them but cannot find an explanation of the acronym on Google. Is it something to do with sold subject to ? contract?
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    Subject to Construction Certificate? (For a development site).

    NFI - any takers?
     
  10. Toon

    Toon Well-Known Member

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    The one's I'm looking at are all ordinary residential properties. I've run out of ideas too:confused:
     
  11. devank

    devank Look, lets just get on with this, ok? Premium Member

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    STCC = Subject To Council Consent ??
     
  12. RiMo

    RiMo Well-Known Member

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    STCC = Subject to Council Conditions
    STCA = Subject to Council Approval
    And don't forget the holy grail:
    LOR = Living off rent
     
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  13. Toon

    Toon Well-Known Member

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    Hmmm, subject to council conditions doesn't seem to fit though, as they're all just standard houses on avg. sized lots that don't seem to require any council approval for anything.
     
  14. RiMo

    RiMo Well-Known Member

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    STCC normally refers to special conditions or consents from the local council. It might have something to do with easements/change in zoning/specific requirements/future development & planning/etc. It can be anything. Best to ask the REA or check directly with the council.
     
  15. Toon

    Toon Well-Known Member

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    After further Googling, I think I've finally found it:

    [​IMG]
     
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  16. RiMo

    RiMo Well-Known Member

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    There you go! Where would we be without Dr Google? :)
     
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  17. Perthguy

    Perthguy Well-Known Member

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    The ATO now refers to PPoR as Main Residence (MR).

    "In general, your main residence (your home) is exempt from capital gains tax (CGT)."
    Is the dwelling your main residence? | Australian Taxation Office
     
  18. Azazel

    Azazel Well-Known Member

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    BCC - Brisbane City Council, MBRC - Moreton Bay...
    GC - Gold Coast.
     
  19. Azazel

    Azazel Well-Known Member

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    Oh and FTW means "for the win" now apparently...
     
  20. devank

    devank Look, lets just get on with this, ok? Premium Member

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    I wish I can edit my first post. But... @Simon Hampel doesn't trust us enough :)
    How about a 'Good Kids' Group with longer edit access??