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|Highest and Best Use||
The highest net return in money or amenities to the land over a given period of time. The best example would be a parking lot in a downtown core will have a highest and best use of building a high-rise office or residential tower.
The act of a tenant remaining in possession of the premises longer after the expiry date of the lease. It typically comes with a penalty (normally 200% of the net rent) and must also accompany the permission of the landlord.
Heating ventilation and air conditioning.