THE WORD MANUFACTURING COMPANY – WORD LIST & DEFINITIONS:
WORD ECOSYSTEM: A grouping of words linked together based upon a central theme or concept, resulting in definition uniformity. Using Prefixes and suffixes serve as the most common methods of grouping letters to create terminology associations.
The word “premises” expands the definition of real estate as a collection of assets and on-site activities. Additional suggested terms phonically linked to the premi-[ses] theme are continuously under development. The following terms are listed in alphabetical order, along with sample sentences:
Premiarea: An area of the premises, including reference to dimensions and sections.
“The San Pedro Cliff Apartments premiarea spans over fifteen acres.”
Premicare: Premises involved in the healthcare industry, including senior living facilities, nursing homes, and hospitals.
“More investors expand their premicare portfolios to include assisted-living properties, as baby boomers demand additional services.”
Premicenter: The center of activities within the premises. It also refers to a larger complex with many properties, the focal point.
“An ice-skating rink serves as the premicenter linking four buildings located within the Acme Office Park.”
Premicomp: For the purpose of analysis, a comparable premises vs. the specific premises.
“When using the Market Approach, the appraiser discovered twelve premicomps of equal or greater value.”
Premicrew: Various people hired by ownership for operating, managing, leasing and any other authorized activities on the premises.
“Faso Industrial Management Corp. uses different premicrews for management and investment sales, assuring a competitive environment among vendors.”
Premidata: Any information specifically associated with the real estate premises, namely financial, physical and legal data.
“The investors decided to shred historical financial statements and other premidata older than seven years, as a safety precaution to control confidential information.”
Premidate: Any relevant dates relating to the premises, primarily time triggers for leases, contracts, and other events.
“Benchmark premidates for Green Garden Apartments include April 1st and October 1st, representing the spring and fall rental season lease expirations.”
Premidebt: Any debt associated with premises, including personal property, business, and real estate.
“Campbell Avenue Partners actively provides first mortgage and mezzanine premidebt for rehabbed condominiums.”
Premidesign: The premises design elements, namely architectural, engineering and structural features.
“The bank lobby premidesign is inspired by Louis Sullivan-inspired architectural style.”
Premidistrict: A district surrounding the premises.
“The Lincoln Park premidistrict spans over five square miles.”
Premidriver: Anyone involved with promoting and supporting activities on the premises, including the premises itself.
“The mall’s anchor tenants premidrived a successful holiday show during New Year’s Day.”
Premiduty: Any premises duties and responsibilities owed to the users, community, environment, and investors.
“The outdated view of premiduty focuses on profits as the main objective of real estate ownership.”
Premiecology: Any ecological and environmental impact issues associated with the premises.
“Kotz Industries hired a premiecologist to inspect the quality of the well water at their headquarters campus.”
Premiengineer: Any of the engineering professionals involved with the premises including, but not limited to, structural, mechanical, electrical and civil engineers.
“The Village of Cicero hired the same team of premiengineers employed by the neighboring community of Berwyn for designing a new city hall building.”
Premifault: Any problems and issues of concern about the premises.
The Heartford Insurance Company denied liability coverage for the premises because of too many premifaults discovered during the inspection.
Premifessional: Any professional involved in owning and operating the premises.
“The investment syndicate is composed of four premifessionals: a lawyer, an architect, an engineer, and a mortgage banker.”
Premiflip: A purchase and quick subsequent sale of the premises, otherwise known as a “flip.”
“Two college students became instant millionaires by premiflipping multiple assets near the campus.”
Premifraud: Any fraudulent activities on the premises.
“The Palos Verdes Flea Market disallows premifraud, especially targeting counterfeit merchandise.”
Premifull: A premises experiencing full occupancy, or running at full capacity.
“Since the premises is located at the busiest intersection in Madison, across the street from the State Capitol, it’s always premifull.”
Premifund: Any funds involved with investing in premises.
“Iowa Street Ventures is launching a new premifund this year.”
Premigroup: A collection of individuals, and other entities, forming a group for the purpose of owning the premises.
“Doctors from Woodstock Community Hospital formed a premigroup to develop a medical center in the immediate area.”
Premihood: The neighborhood and surrounding area of the premises.
“Redondo Beach and Torrance are the largest premihoods of the Del Amore Fashion Center.”
Premihost: Anyone hosting and greeting users on the premises.
“The security desk is the first premihost that most people meet when entering the skyscraper lobby.”
Premiland: Any reference to land within the premises.
“Pawlus Industrial Park plans to rezone 200 acres of premiland, currently used as a farm.”
Premileverage: Any financial leverage involved with the premises, including personal property, business, and real estate.
“ADAC Mortgage Company underwrites owner-occupied real estate to a maximum of 75% loan-to-value as a premileverage limitation.”
Premiloan: Any loans associated with premises, including personal property, business
and real estate.
“Best Florist Global Industries recently obtained premiloans for nearly all of their retail outlets.
Premilot: Any lots within the premises.
“Kotz Homes still has several premilots remaining within the Whispering Hills residential development.”
Premimanager: Anyone involved with managing the premises.
“Greybone Multifamily Services is the nation’s largest premimanager, operating over a half million apartments.”
Premimatch: Any other premises that matches the specific premises in design, financial performance, location or other identified characteristics.
“The Tracy Chevy automobile dealership is an economic premimatch to the nearby Stockton dealership – both share the same monthly sales volume figures.”
Premimember: Any member of the ownership group.
“Myron Wisconicz is the founding premimember of Green Lake Partners.”
Premimind: Thought leadership about premises, or a state of mind and attitude.
“The Earning & Yang Consulting Group specializes in hospitality advisory services, preferring to hire premiminds from universities with hotel programs.”
Preminetwork: The network of people and technologies associated with the premise
“The Wicker Park Post preminetwork boasts over thirty employees at that branch.”
Preminotice: A legal or other notification regarding the premises.
“The sheriff served an eviction preminotice for the apartment complex.”
Premiparcel: Any parcel, or land component, associated with the premises.
“Lucky Luzak Acres Country Club is composed of numerous non-adjacent premiparcels.”
Premipiece: Any piece, or component, relating to the premises.
“The Round Lake Osela resort features a variety of premipieces for entertaining tourists, namely sailboats and jet-ski rentals.”
Premiprocess: Any processes involved with the premises including design, construction, renovation, or any other activities for operating and enhancing a property.
“The premiprocess for completing the renovation was delayed due to extensive permits reviews.”
Premiproof: Any evidence relating to the premises.
“The attorney provided ample premiproof to reinforce legal title validity.”
Premiregion: A region surrounding the premises.
“Even though the premises is located in Austin, most residents identify with the Oak Park premiregion.”
Premirival: Competition and rivals to the premises.
“The new development economically shocked premirivals within the immediate area.”
Premisale: A partial or full sale transaction of the premises.
“The ownership venture agreed to discontinue the premisale when written offers arrived below expected pricing.”
Premiscene: Any events or scenes occurring on the premises.
“The Bucktown Neighborhood Association held a big block party closing a two-block area, creating one of the largest premiscenes in the Chicago.”
Premiscience: A branch of knowledge that deals with real estate premises including history, technology, law, design, ethics, philosophy, urban planning, financial analysis, and valuation.
“The University of Wisconsin-Madison hired a new chair to head the Premiscience Department.”
Premisearch: The process of information gathering for real estate premises research.
“Kowsz Mortgage Company does in-house premisearches on all agency loan requests.”
Premisection: A specific, identifiable section of the premises.
“The surveyor identified the highest-elevation premisection of the land.”
Premisecurity: Any measures taken to protect real estate premises against thief, fraud, vandalism, crime, escape, espionage or sabotage.
“The anti-terrorist premisecurity protocol was recently upgraded for the shopping mall.”
Premisetting: Any place or surroundings within the premises.
“The apartment complex has a large water fountain as the entrance premisetting.”
Premisism: Anything related to real estate premises.
“New York City is encouraging more development in the Bronx by offering premisism municipal tax breaks to developers, business owners, and tenants from adjacent boroughs.”
Premisist: A steward of the premises, focusing on socially responsible real estate ownership and investments.
“Not-for-profit affordable housing developers represent the best examples of premisists active in underserved urban communities.”
Premisite: Any geographic reference to real estate premises. Linked to two other components forming the complete definition of real estate premises, including premisist (ownership) and premispace (usage).
“Volomo Corporation advises theme park operators on selecting the most suitable premisites for constructing new recreational venues.”
Premisocial: Social activities and gatherings within the premises.
“Most East Village Manhattan apartment buildings offer extensive premisocial programs for residents.”
Premisolution: Any solution and corrective measures relating to the premises.
“The buyers decided to purchase the home with a cracked foundation, due to an affordable premisolution.”
Premisource: Any reference to the premises as a source.
“The neighbors complained that Waste Recycling Terminal Company is the premisource of local pollution in the area.”
Premispace: Any multidimensional space/time revenue unit generating income within the real estate premises, using the three physical dimensions of space (length, width, and height). The fourth dimension covers the time applicable to ownership possession and benefit. Premises usage tied to economics. Linked to two key components forming the complete definition of real estate premises word ecosystem, based on the premi- prefix combined with a description suffix including premisist (ownership) and premisite (location).
“After an on-site audit, the church added more premispaces including a soda vending machine, local parking rental from neighboring tenants, signage income and paid property tours.”
Premispec: Any technical specifications and details about the premises.
“The house premispecs, particularly the fireplace and pool, attracted many buyers.”
Premispecialist: Any professional specializing in various aspects of real estate premises, including development, design, management, and supervision.
“The airport authority subcontracted a team of appraisers, accountants, and architects to serve as premispecialists for analyzing airport expansion plans.”
Premistatus: The physical, economic and legal status of the premises.
“Institutional investors prefer premium premistatus assets, and will frequently outbid private investors.”
Premistorage: Storage areas on the premises.
“The family recently created premistorage in the basement, after relocating items from a local self-storage facility.”
Premistrategy: Any strategy associated with owning and operating the premises.
“The unseasoned investor lacked a clear premistrategy after buying the hotel.”
Premistyle: Any style and design elements of the premises.
“The community asked the developer’s architect to conform to other buildings in the area by redesigning the project to reflect a Victorian premistyle.
Premisuite: Any rooms designed for a specific use on-premises.
“The penthouse unit is the most desirable premisuite. “
Premiswag: Any style and design elements relating to premises, including personal
property, business, and real estate.
“The developer targets Gen-X professionals using Art Deco premiswag for their outlet stores.”
Premisystem: Any systems used for operating the premises, including financial, social, physical and environmental details.
“The main on-site premisystem is based upon attracting millennials by providing superior technology and internet service.”
Premitask: Any duties and responsibilities assigned to the premises.
“The new management company was given extensive premitasks to complete as part of the major renovation program.”
Premitech: Any technological aspects of the premises.
“Tobor Artificial Intelligence Corporation, a premitech startup, installed ‘Intelli-cameras’ with facial recognition at all of the building entrances and exits.”
Premitenant: Any tenant using the premises as a result of a contractual obligation.
“Most of the premitenants decided to vacate, rather than renew, at the new rental rates.”
Premiterm: Any timeline or term associated with the premises.
“The grocery-anchored center is encumbered with a 20-year lease, with seven years of premiterm remaining.”
Premitext: Any documentable evidence relating to real estate premises, including contracts, advertising literature, emails, video/audio recording, text messages, and any other retrievable media.
“The tax parcel owner presented an extensive premitext collection to the County Assessor, as part of a tax relief request.”
Premitrack: Any course of action taken on the premises.
“Investors intend to convert obsolete real estate assets in underserved neighborhoods into urban gardens, as a key premitrack strategy.”
Premitrend: Any investment, financial, demographic, economic or other trends relating
to the premises.
“Population growth ranks as the most significant premitrend for investors buying in Orlando, Florida.”
Premiturf: Any reference to an area, or turf, within the premises.
“Fearing trespassers, farmers are very protective of premiturf situated near national forests.”
Premiunit: Any unit of measurement relating to premises.
“Office, industrial and retail assets typically use “square feet” as the preferred premiunit.”
Premiuser: Any person, group or organization using the premises, regardless of time duration.
“The office building has numerous premiusers requesting more bike parking facilities, including tenants from the adjacent apartment building.”
Premiventure: Any financial enterprise relating to the premises.
“Rockingfeller Premiventure, LLC acquires vacant office buildings for redevelopment.”
Premivice: Any vice activities on the premises.
“The police strictly enforce premivice violations near public schools.”
Premiword: Any word, or combination of words, relating to premises discussions.
“Premisist, Premispace, and Premispace are examples of premiwords recently added to real estate vocabulary.”
Premiwork: Any type of work done on the premise including manufacturing, construction, and development.
“The main plant’s premiwork is limited to aircraft headrest manufacturing and plastics research.”
Premiworld: The overall description of premises as a real estate topic.
“Academia is embracing more premiworld concepts for discussing the principles of real estate investing.”
Premizone: Any zones within the premises.
“The hospital’s quietest premizones are situated near the surgery recovery rooms.”
A number of these definitions overlap or perhaps redundant. Notwithstanding, the “premi-“ prefix usage shows extreme versatility in adding words that expand the real estate premises word ecosystem. And certainly, more words will be created, as this word ecosystem gains popularity within the industry. A day may arrive in the foreseeable future where many more assets and terms are premismart!