| O |
| Term |
Description |
| Open House |
In order to promote a property, the listing broker or the owner of the property may hold an open house in order to get a large number of people and/or brokers through the property in a short period of time. |
| Open Kitchen |
A kitchen which opens up to the living space of an apartment. There is no door separating the kitchen from the rest of the apartment. |
| Original Detail |
This term is used to describe detailing in pre-war apartments. This can include ceiling moldings, chair rails, ornamental decorations around doors or fireplaces, etc. |
| Owner Pays (OP) |
A situation when an owner of an apartment building or an individual apartment will offer an inducement to a prospective tenant or to a broker by paying all or part of the commission on the rental of an apartment. In a hot rental market, it will be less likely that an owner will pay any portion of a rental commission. |
| Ownership |
There are several different types of residential ownership in Budapest. Each of them has their distinct characteristics. They are Condominiums; Co-operatives; and Rental buildings. |
| Outdoor space |
Garden, terrace, balcony which belongs to the apartment. Apartment owner is the only person this space is available for. |