{"id":888,"count":1,"description":"\r\nJump to:\r\nWhat is variance?<\/a>\r\nWhat types of variance are there?<\/a>\r\nWhat is area variance?<\/a>\r\nWhat is use variance?<\/a>\r\n\r\n\r\nWhat is variance?\r\n\r\nIn real estate, a variance is an official exception\/dispensation from a rule or regulation. For example, an authorization that is given so that a property can be used or developed in a way that does not conform to the zoning regulations that are applicable for the property\u2019s location.\r\nFor example, if a property owner wants to build a second story to a property that is located in a one-story zone, the owner must request a that a variance be granted.\r\nVariances can provide relief from hardships that affect a single lot or an otherwise small area.\r\n\r\nMany similar individual lot variances that are requested within proximity of each other may ultimately lead to rezoning of the entire area in a way that adapts to changes that have amassed over time.\r\n\r\n\r\nWhat types of variance are there?\r\n\r\nThere are two main categories of variances that can be requested from a zoning board or commission: area variance and use variance.\r\n\r\n\r\nWhat is area variance?\r\n\r\nArea variance is an authorization to use the land in a way that is not allowed or severely hindered by dimensional and\/or physical requirements of the zoning regulations in place. Area variances are more common and more easily approved.\r\nFor example, if a developer\u2019s project cannot be built because the lot is irregular and makes it impossible to maintain required setbacks on all sides of the building, the developer can request a variance that allows for smaller setbacks.\r\n\r\n\r\nWhat is use variance?\r\n\r\nUse variance is an authorization to use the land for a purpose that is otherwise not allowed or severely hindered by zoning regulations in place. Use variances are more controversial, because the changes required may affect neighboring lot owners or users.\r\nFor example, if a lot is zoned for single-family residential use, as is the surrounding neighborhood, obtaining a variance that allows for a multifamily property to be built may encounter obstacles (residents may object to changes to the character or the area)\r\n\r\n\r\nYou might also be interested in:\r\n\r\n \tWhat is a listing?<\/a>\r\n \tWhat is a notary public?<\/a>\r\n \tWhat is a principal broker\/agency principal?<\/a>\r\n\r\n\r\n\r\nSearch other terms\r\n\r\n\r\n\r\nA<\/a>\r\nB<\/a>\r\nC<\/a>\r\nD<\/a>\r\n\r\n\r\nE<\/a>\r\nF<\/a>\r\nG<\/a>\r\nH<\/a>\r\n\r\n\r\nI<\/a>\r\nJ<\/a>\r\nK<\/a>\r\nL<\/a>\r\n\r\n\r\nM<\/a>\r\nN<\/a>\r\nO<\/a>\r\nP<\/a>\r\n\r\n\r\nQ<\/a>\r\nR<\/a>\r\nS<\/a>\r\nT<\/a>\r\n\r\n\r\nU<\/a>\r\nV<\/a>\r\nW<\/a>\r\nX<\/a>\r\n\r\n\r\nY<\/a>\r\nZ<\/a>\r\n\r\n\r\n\r\nPopular terms\r\n\r\n\r\n\r\nAmortization<\/a>\r\n\r\n\r\nEquity <\/a>\r\n\r\n\r\nNotary Public <\/a>\r\n\r\n\r\nProgression\/Regression<\/a>\r\n\r\n\r\nAcquisition <\/a>\r\n\r\n\r\nAnnuity <\/a>\r\n\r\n\r\nAsset <\/a>\r\n\r\n\r\nFiduciary <\/a>\r\n\r\n\r\nInflation <\/a>\r\n\r\n\r\nContingency <\/a>\r\n\r\n\r\nEscrow<\/a>\r\n\r\n\r\nPower of attorney <\/a>\r\n\r\n\r\nReal Estate Agent <\/a>\r\n\r\n\r\nEminent Domain <\/a>\r\n\r\n\r\nLiability <\/a>\r\n\r\n\r\nStatute of Limitations<\/a>\r\n\r\n\r\nValid <\/a>\r\n\r\n\r\nVariance<\/a>\r\n\r\n\r\nContiguous <\/a>\r\n\r\n\r\nDeficit<\/a>\r\n\r\n\r\n\r\n","link":"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-variance\/","name":"Variance","slug":"cre-term-variance","taxonomy":"post_tag","meta":[],"yoast_head":"\nWhat is Variance? 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