Definition: The measured finished living area of a residential property under the measurement standard used for the assignment, commonly emphasizing above-grade finished space.
Example
An appraisal reports above-grade living area separately from a finished below-grade basement under the applicable standard.
Keep the distinction clear
A garage, basement, or unfinished area is not automatically included in GLA. Measurement conventions and reporting categories must be consistent when comparing properties.
Related terms
Appraisal · Comparable Property · Subject Property
Keep studying
References: Fannie Mae: improvements and measurement reporting
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